CFD Trading – Buy Petrochina (857.HKE) at $2.39. Stop at $2.30 and Target at $2.60.

PETROCHINA   Stock Code 857.HKE

Price is now reaching the cloud support, which also coincides with the gap support and the Fibonacci 62% correction point of Oct-Nov 20’s rally. The thick cloud is also a hint of a strong support at this zone. The MACD is still strong and bullish now, with both of its lines above the zero line. Conversion and Base lines had a bullish crossover earlier and is hinting of a bullish price trend ahead. As long as this support zone holds, there is chance for price to rebound from here to a higher level.

$2.39                 Buy
$2.60                 Price Target
$2.30                 Risk Management Stop
1 week              Trade Duration

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