CFD Trading – Buy China Eastern Airlines (0670.HKE) @ $3.45. Stop at $3.10 and Target at $3.85

CHINA EASTERN AIRLINES   Stock Code 0670.HKE

Outlook
Price has been supported at the resistance-turned-support zone of $3.06 to $3.15, which is also near to the cloud support. Price managed to stay above the cloud, keeping the uptrend intact. There is an overhead declining trendline that had capped price’s rally, but price is near to this trend line and could be about to break out as MACD is about to have a bullish crossover, hinting for the potential upside. These could increase chances of the stock price breaking above the downtrend line. A breakout from the downtrend line is likely to lead to a test of the previous high at $3.87.

Strategy                  
$3.45                 Buy
$3.85                 Price Target
$3.10                 Risk Management Stop
2 weeks            Trade Duration

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