CFD Trading – Buy China Longyuan (916.HKE) at $11.30. Stop at $10.10 and Target at $13.40.

CHINA LONGYUAN Stock Code 916.HKE

Outlook

Price broke above the cloud three days ago and has been continuing its strong uptrend since the breakout. Conversion and base lines had a bullish crossover and is hinting at a bullish price trend. Lagging span is above price of 26 days ago but is inside the cloud. MACD is strong and bullish. MACD is hinting at a bullish price trend. If price can stay above the cloud, it could be heading to the next resistance at HK$13.40 in the next 1-2 weeks.

Strategy                     

$11.30                Buy

$13.40                Price Target

$10.10                Risk Management Stop

2 weeks              Trade Duration

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