CFD Trading – Buy China Construction Bank (939.HKE) at $6.04. Stop at $5.75 and Target at $6.35

Outlook
After reaching a high of $6.38 on 30 November, price has been supported by the cloud for the past two occasions during its consolidation. Price broke above the cloud during the last trading session and there was also a bullish Conversion and Base lines crossover that hints of a bullish price trend ahead. MACD has turned bullish with both of its lines above the zero line and the fast line is still moving higher. We could see price moving higher to retest its high of $6.38 again.

Strategy                  
$6.04               Buy
$6.35              Price Target
$5.75                Risk Management Stop
1 week              Trade Duration

Leave a Reply

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