CFD Trading – Buy Sino Biopharm (1177.HKE) at $7.98. Stop at $7.35 and Target at $8.85

Price has hit a low of HK$6.48 on 3 December 2020, approaching the previous support zone back on 19 March 2020. There was a bullish Conversion and Base lines crossover, where the Base line is acting as support at the moment. The MACD is also turning bullish, hinting at potential upside ahead. A new bullish trend will be confirmed once price penetrates and closes above the previous high of HK$7.97, forming the uptrend characteristics of higher highs and higher lows.

$7.98               Buy
$8.85               Price Target
$7.35                Risk Management Stop
2 week              Trade Duration

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.