CFD Trading – Buy China Res Power (836.HKE) at $10.30. Stop at $9.90 and Target at $11.00.

CHINA RES POWER   Stock Code 0836.HKE

Price has been consolidating inside the cloud, where the lower edge of the cloud is acting as support to price. In the past 2 trading sessions, price has started to move above the consolidation’s high, hinting of an end of the consolidation and a resumption of the uptrend. A bullish Conversion and Base lines crossover could be likely. The Lagging Span is above the cloud but is still below the price of 26 days ago. The MACD is bullish and there is a bullish MACD crossover that hints for the increased upward momentum. These could increase chances of the stock price resuming its upward momentum to move higher to HK$10.99.

$10.30                Buy
$11.00                Price Target
$9.90                 Risk Management Stop
2 weeks             Trade Duration

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