Air China Stock Code 753.HKE
Outlook
Price reached a high of HK$5.78 on 15 October and went into a decline. The decline is currently near to the cloud support zone as well as a previous resistance turned support line. We think price is likely to be supported around this area. Conversion and base line remain bullish after a bullish crossover earlier. Lagging Span is above price of 26 days ago but is inside the cloud. MACD remains in the bullish zone and is hinting of a bullish price trend ahead. We think price, if it can be supported above the cloud, is likely to advance to HK$5.78 in the next 2-3 weeks.
Strategy
$5.28 Buy
$5.78 Price Target
$5.15 Risk Management Stop
3 weeks Trade Duration
