CFD Trading – Buy Air China (0753.HKE) @ $5.46. Stop at $4.85 and Target at $6.20

AIR CHINA Stock Code 0753.HKE

This stock has formed an Ichimoku W-bottom reversal pattern and where has price broken and closed above the previous resistance of HK$5.30, triggering the Ichimoku reversal breakout. There is also an early MACD histogram divergence that hints for the potential upside. The momentum indicator, the MACD, also had a bullish crossover, hinting of a bullish price movement ahead. We are likely to see price moving higher from here. Using the Ichimoku reversal together with the 3E price projection gives us a price target of $6.35.

$5.46                Buy
$6.20                 Price Target
$4.85                 Risk Management Stop
2 weeks             Trade Duration

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