CFD Trading – Sell Geely Auto (175.HKE) at $27.55. Stop at $30.90 and Target at $22.00.

GEELY AUTO   Stock Code 0175.HKE

This stock has been moving lower since 26 January 2021. There was a bearish Conversion and Base lines crossover earlier that hints of a bearish price trend going forward. Lagging Span is below price of 26 days ago but is above the cloud at the moment, hinting of a weak bearish trend at the moment. Price is now trading inside the cloud and is supported by a previous low price. MACD has been declining and both of its lines are near to the zero line and are still falling. These could increase chances of the stock price breaking below the cloud support to move lower to the next support at $21.99.

$27.55                Sell
$22.00                Price Target
$30.90                Risk Management Stop
2 weeks              Trade Duration

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