CFD Trading – Buy Yanzhou Coal (1171.HKE) at $9.45. Stop at $8.85 and Target at $10.20.

YANZHOU COAL   Stock Code 1171.HKE

This stock gapped up on 29 March 2021 and has managed to stay above this gap support for the past few sessions. The Conversion line is also coinciding with this gap support, providing another layer of support for price. The Lagging Span is above the cloud and the price of 26 days ago, confirming the bullish trend. The MACD is also strong and bullish and there is a bullish MACD crossover. We could see price resuming its upward momentum to move higher to the next resistance level at HK$10.20 again.

$9.45                 Buy
$10.20                Price Target
$8.85                 Risk Management Stop
2 weeks              Trade Duration

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