CFD Trading – Buy ABC (1288.HKE) at $2.99. Stop at $2.90 and Target at $3.25.

ABC   Stock Code 1288.HKE

Outlook

Price reached a high of HK$3.07 on 4 April 2022 and was followed by a correction. The correction appears to halt at the upper edge of the cloud support, which is also the Conversion line and gap support as well. Conversion and Base lines remain in a bullish crossover, hinting at a bullish price trend.  MACD is bullish with both of its lines above the zero line. We see price rebounding to move higher if it able to maintain above the cloud.

Strategy

$2.99                 Buy

$3.25                 Price Target

$2.90                 Risk Management Stop

2 weeks             Trade Duration

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