CNOOC Stock Code 0883.HKE
Outlook
Price has been forming higher highs and higher lows, which is the characteristic of an uptrend. There was a bullish Conversion lines and Base line crossover that hints for a potential bullish price trend ahead. Lagging Span is above price of 26 days ago but is currently inside the cloud. The MACD indicator is bullish and there was a bullish MACD crossover. We could see price continuing its momentum to break above its recent high, which is also the cloud resistance, to move higher to HK$10.03.
Strategy
$8.96 Buy
$10.00 Price Target
$8.40 Risk Management Stop
2 weeks Trade Duration
