Dongfeng Group Stock Code 489.HKE
Price broke and closed below the cloud in the previous trading session, changing the chart outlook into a bearish trend. A possible mini Double Top chart pattern could be forming as well, which is a hint of a bearish price trend. The conversion line and base line had a bearish crossover, hinting at a bearish price trend. Lagging span is inside the cloud and is not able to confirm the bearish price trend. MACD remains bullish but is near to the zero line and could be moving below the zero line soon. We foresee price declining to the next support point at $6.41 in the next 2-3 weeks ahead.
$7.01 Short Sell
$6.41 Price Target
$7.41 Risk Management Stop
3 weeks Trade Duration