CFD Trading – Buy China Res Beer (291.HKE) at $68.30. Stop at $62.80 and Target at $76.40.

CHINA RES BEER   Stock Code 0291.HKE

Outlook
Price managed to stay above the cloud during the recent price correction, supported by the Base line and the cloud, keeping the bullish trend intact. It broke and closed above its recent high of HK$67.90 during the last trading session. There is a bullish Conversion and Base lines crossover that confirms the bullish price movement. Lagging Span is above price of 26 periods ago and above the cloud, confirming the bullish trend. The MACD remains bullish and just had a bullish crossover. We are likely to see price resuming its upward momentum to move higher to HK$76.46.

Strategy
$68.30                Buy
$76.40                Price Target
$62.80                Risk Management Stop
2 weeks             Trade Duration

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