CFD Trading – Buy Shanghai Pechem (338.HKE) at $1.52. Stop at $1.40 and Target at $1.69.


SHANGHAI PECHEM   Stock Code 0338.HKE

Outlook

Price could have formed a base low at HK$1.39. Price broke and closed above its recent price high resistance yesterday with a bullish candle, hinting at a bullish price trend. Price also triggered an Ichimoku V-shape reversal pattern. Conversion line is turning up and a bullish Conversion and Base lines crossover is likely. MACD is giving a divergence warning that hints at possible bullish price trend ahead. We are likely to see price moving higher.

Strategy                  

$1.52                 Buy

$1.69                 Price Target

$1.40                 Risk Management Stop

2 weeks              Trade Duration

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