AIR CHINA Stock Code 0753.HKE
Outlook
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.
Strategy
$5.46 Buy
$6.20 Price Target
$4.85 Risk Management Stop
2 weeks Trade Duration
