GEELY AUTO Stock Code 0175.HKE
Outlook
Price has been on a decline since January 2021. It is in a downtrend now as price is forming lower highs and lower lows. Price was capped by the declining Base line which is acting as resistance at the moment. There is a bearish Conversion and Base line crossover that hints of a bearish price trend ahead. The MACD is also bearish with both of its lines are far below the zero line. A bearish MACD crossover is likely. We could see a further price decline to HK$14.73 if price were to break below its recent low of HK$18.90.
Strategy
$18.88 Sell
$14.75 Price Target
$21.20 Risk Management Stop
2 weeks Trade Duration
