CFD Trading – Buy Air China (0753.HKE) @ $5.32. Stop at $4.95 and Target at $5.70

AIR CHINA Stock Code 0753.HKE

Price appears to rebound from the previous low of HK$4.90, and has been moving higher since that low. If price can surpass the previous high of HK$5.30, it could be forming a W-bottom chart pattern, and we are likely to see price moving higher towards the target at HK$5.70. There is divergence warning given from the MACD histogram that hints for the reversal. MACD is currently in the bearish zone but a bullish MACD crossover is also likely in the coming session, hinting of a bullish price trend ahead.

$5.32                 Buy
$5.70                 Price Target
$4.95                 Risk Management Stop
2 weeks             Trade Duration

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