CFD Trading – Buy Dongfeng Motor Group (489.HKE) at $8.25. Stop at $7.40 and Target at $9.90.

DONGFENG GROUP   Stock Code 0489.HKE

Price hit a high of HK$10.10 on 11 January and there was a price correction thereafter. It brought price lower into the cloud, where the cloud is providing support to the price decline. MACD is bearish at the moment, but both of its lines are near to the zero line. A bullish MACD crossover is also likely in the coming session, hinting of a bullish price trend ahead. We could see price rebounding from current level and to move higher towards its previous high at HK$9.96 again.

$8.25                 Buy
$9.90                 Price Target
$7.40                 Risk Management Stop
2 weeks             Trade Duration

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