CFD Trading – Buy Sinopharm (1099.HKE) at $19.70. Stop at $18.60 and Target at $21.80.

SINOPHARM   Stock Code 1099.HKE

Price broke and closed above the cloud during the last trading session, turning the stock outlook from bearish to bullish. There is also a bullish Conversion and Base lines crossover that hints for a potential upside ahead. The momentum indicator, the MACD, is bullish and is moving higher, suggesting the increased upward momentum. We could see price continuing its upward momentum to move higher to the next resistance level at HK$21.80.

$19.70                Buy
$21.80                Price Target
$18.60                Risk Management Stop
2 weeks             Trade Duration

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