CFD Trading – Buy China Res Beer (291.HKE) at $53.80. Stop at $52.00 and Target at $59.30.

CHINA RES BEER   Stock Code 0291.HKE


The price correction appeared to halt at the cloud support, which is also the key Fibonacci 62% correction point. If price stays above the Fibonacci 62% correction point, we are likely to see a resumption of the price rally. A bullish engulfing candlestick pattern was formed yesterday, hinting at a bullish price trend. MACD is rising after having the bullish crossover as well, suggesting the increased upward momentum. We are likely to see price rebounding to test its recent price high again.


$53.80                Buy

$59.30                Price Target

$52.00                Risk Management Stop

2 weeks              Trade Duration

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