CFD Trading – Buy Haidilao (6862.HKE) at $48.20. Stop at $39.50 and Target at $61.00.

HAIDILAO   Stock Code 6862.HKE

Price has been forming higher highs and higher lows recently, which are the characteristics of a bullish trend. There was also a bullish Conversion and Base lines crossover that hints of a bullish price trend ahead. Lagging Span is above price of 26 days ago but is below the cloud at the moment. The MACD has turned bullish and is moving higher. There is also bullish MACD crossover that suggest for the upward momentum. MACD has also given a bullish divergence warning, hinting of a low earlier. These could increase chances of the stock price penetrating above the cloud resistance to move higher to the next resistance point at HK$61.06.

$48.20                Buy     
$61.00                Price Target
$39.50                Risk Management Stop
2 weeks             Trade Duration

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