CFD Trading – Buy HSBC Holdings (005.HKE) at $45.50. Stop at $43.90 and Target at $49.00.

HSBC HOLDINGS   Stock Code 0005.HKE

This stock has been moving within an ascending triangle chart pattern for the past two months. Two days ago, it finally broke out from this triangle pattern with a rising window, hinting at the increased upward momentum. This triangle resistance which is also the gap resistance that created on 1st Apr 2020. There is also a bullish Conversion and Base line crossover that hint for potential upside ahead. The MACD is moving higher and there is also a bullish crossover. We are likely to see price move higher as long as price stay above the breakout point of HK$44.00.

$45.50                Buy
$49.00                Price Target
$43.90                Risk Management Stop
1 week             Trade Duration

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