Tag: Air China

AIR CHINA   Stock Code 0753.HKE

Outlook

This stock price was resisted by the gap resistance zone on three occasions. Price was unable to sustain above the cloud and in the past three trading session, it has been declining. Price is currently inside the cloud. Lagging span is below the cloud but above the price of 26 days ago. A bearish MACD crossover is likely in the coming session, hinting at a bearish price trend ahead. We are likely to see further price decline.

Strategy

$5.41                 Sell

$4.75                 Price Target

$5.70                 Risk Management Stop

2 weeks             Trade Duration

Air China Stock Code 753.HKE

Outlook

Price reached a high of HK$5.78 on 15 October and went into a decline. The decline is currently near to the cloud support zone as well as a previous resistance turned support line. We think price is likely to be supported around this area. Conversion and base line remain bullish after a bullish crossover earlier. Lagging Span is above price of 26 days ago but is inside the cloud. MACD remains in the bullish zone and is hinting of a bullish price trend ahead. We think price, if it can be supported above the cloud, is likely to advance to HK$5.78 in the next 2-3 weeks.

Strategy                  

$5.28                 Buy

$5.78                 Price Target

$5.15                 Risk Management Stop

3 weeks           Trade Duration

AIR CHINA Ltd Stock Code 0753.HKE

Outlook
There was a big rising window formed on 10 November when price broke above the cloud, changing the stock outlook from bearish to bullish. Price managed to stay above the cloud as well as the window since that day, keeping the uptrend intact. There was a bullish Conversion and Base lines crossover, hinting at the bullish movement ahead. Lagging Span is above price of 26 periods ago as well as above the cloud, confirming the bullish trend. The MACD is also strong and bullish, where both of the MACD’s lines are far above the zero line. Price formed an Ichimoku reversal pattern as well. We could see price moving higher towards the next resistance point at HK$6.75.

Strategy
$6.05                Buy
$6.75                 Price Target
$5.60                 Risk Management Stop
1 weeks             Trade Duration

AIR CHINA Stock Code 0753.HKE

Outlook
This stock has formed an Ichimoku W-bottom reversal pattern and where has price broken and closed above the previous resistance of HK$5.30, triggering the Ichimoku reversal breakout. There is also an early MACD histogram divergence that hints for the potential upside. The momentum indicator, the MACD, also had a bullish crossover, hinting of a bullish price movement ahead. We are likely to see price moving higher from here. Using the Ichimoku reversal together with the 3E price projection gives us a price target of $6.35.

Strategy
$5.46                Buy
$6.20                 Price Target
$4.85                 Risk Management Stop
2 weeks             Trade Duration

AIR CHINA Stock Code 0753.HKE

Outlook
Price appears to rebound from the previous low of HK$4.90, and has been moving higher since that low. If price can surpass the previous high of HK$5.30, it could be forming a W-bottom chart pattern, and we are likely to see price moving higher towards the target at HK$5.70. There is divergence warning given from the MACD histogram that hints for the reversal. MACD is currently in the bearish zone but a bullish MACD crossover is also likely in the coming session, hinting of a bullish price trend ahead.

Strategy
$5.32                 Buy
$5.70                 Price Target
$4.95                 Risk Management Stop
2 weeks             Trade Duration