CFD Trading – Buy Bank Of China (3988.HKE) at $2.68. Stop at $2.56 and Target at $2.83

BANK OF CHINA Stock Code 3988.HKE

Price managed to stay above the cloud for the second consecutive days after penetrating above the cloud on 6 November 2020. Price also broke above the previous high resistance that had capped price’s rally twice before. There was also an earlier bullish Conversion and Base lines crossover that hinted of a bullish price trend ahead. MACD has turned bullish and is moving higher, suggesting a strengthening of the bullish trend. We are likely to see price continue its upward momentum towards the Ichimoku V projection target price at HK$2.83.

$2.68                 Buy
$2.83                 Price Target
$2.56                 Risk Management Stop
1 week              Trade Duration

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