CHINA OILFIELD Stock Code 2883.HKE
Price is currently consolidating within a rectangle pattern inside the cloud. The consolidation did not go below the cloud, keeping the bullish trend intact. The lower edge of the cloud is acting as a key support at the moment. Lagging span is above the cloud but is below the price of 26 days ago, unable to confirm the bullish trend. MACD is hovering around the zero line and a bullish crossover is likely. We see price rebounding from the cloud support to retest its high again.
$9.35 Price Target
$7.75 Risk Management Stop
2 weeks Trade Duration