CFD Trading – Buy HKEX (388.HKE) at $535.00. Stop at $510.00 and Target at $581.00

HKEX   Stock Code 0388.HKE

Outlook

Since the second break above the cloud, this stock has been moving higher along with the rising Conversion line which is currently acting as support. There was also bullish Conversion and Base lines crossover that hints for potential upside ahead. Price broke out from a Flag pattern, which is one of the continuation patterns, during the last trading session hinting of a bullish price trend ahead. The MACD is bullish and is moving higher. We are likely to see price continuing its upward momentum to move higher HK$581.20 in the next 1-2 weeks.

Strategy

$535.00              Buy

$581.00              Price Target

$510.00              Risk Management Stop

2 weeks             Trade Duration

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.