CFD Trading – Buy Geely Auto (175.HKE) at $35.00. Stop at $31.70 and Target at $40.50.

GEELY AUTO   Stock Code 0175.HKE

Price gapped up on 8 January 2021 and has managed to stay above this gap support since then. It is now consolidating within a Pennant chart pattern, which is one of the continuation chart patterns. The Conversion line is acting as support at the moment. Lagging Span is above price of 26 days ago and is also the cloud, confirming the bullish price trend. MACD is still bullish with both of its lines above the zero line. These could increase chances of the stock price breaking out from the Pennant pattern to move higher.

$35.00                Buy
$40.50                Price Target
$31.70                Risk Management Stop
1 week               Trade Duration

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