CNOOC Stock Code 0883.HKE
Outlook
Price broke and closed above the cloud yesterday, turning the stock outlook from bearish to bullish. It also triggered an Ichimoku V-shaped reversal pattern. There is also bullish Conversion and Base lines crossover that hints for potential upside ahead. Lagging Span is above price of 26 days ago but is inside the cloud at the moment. The MACD is bullish and is moving higher, suggesting increased upward momentum. We are likely to see price continuing to move higher towards its previous resistance high.
Strategy
$8.30 Buy
$8.90 Price Target
$7.90 Risk Management Stop
2 weeks Trade Duration
