CFD Trading – Sell Hua Hong Semiconductor (1347.HKE) at $40.50. Stop at $46.80 and Target at $30.80.

HUA HONG SEMI Stock Code 1347.HKE

Outlook
Price has broken below the cloud support last Friday. There is a follow-through bearish candle on Monday that closed below the cloud, reversing the stock outlook from bullish to bearish. There is also a bearish Conversion and Base lines crossover that hints for potential downside. The Lagging Span is below the price of 26 days ago, but is still above the cloud, unable to confirm the bearish trend. There is also a bearish MACD crossover. We see price moving lower to the next support level at $30.75.

Strategy
$40.50                Sell
$30.80                Price Target
$46.80                Risk Management Stop
1 week              Trade Duration

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