AIR CHINA Stock Code 0753.HKE
Outlook
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.
Strategy
$5.32 Buy
$5.70 Price Target
$4.95 Risk Management Stop
2 weeks Trade Duration
