CFD Trading – Buy PSBC (1658.HKE) at $4.75. Stop at $4.45 and Target at $5.12

Outlook
The stock outlook is bullish as price has been trading above the cloud, since it moved above the cloud on 4 November. Price is now supported by a thick cloud, which is acting as strong support at the moment. There was a bullish Conversion and Base line crossover that hints of potential rally ahead. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend.  The MACD has turned bullish and both of its lines are moving higher. We could see price breaking above its recent high to continue moving higher towards HK$5.12.

Strategy                  
$4.75                 Buy
$5.12                 Price Target
$4.45                 Risk Management Stop
1 week               Trade Duration

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