CFD Trading – Sell Geely Auto (0175.HKE) at $18.88. Stop at $21.20 and Target at $14.75.

GEELY AUTO Stock Code 0175.HKE

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.

$18.88                Sell
$14.75                Price Target
$21.20                Risk Management Stop
2 weeks             Trade Duration

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