CFD Trading – Buy Anta Sports (2020.HKE) @ $84.35. Stop at $80.00 and Target at $96.00

ANTA SPORTS Stock Code 2020.HKE

Price managed to rebound from the cloud, keeping the bullish trend intact. There is a bullish Conversion and Base lines crossover, hinting at the potential upside ahead. The momentum indicator, the MACD, is rising from the zero line at the moment, suggesting this stock is having upward momentum. There is also a bullish gap with price closing above the recent range highs that is hinting of an upward strength. These could increase chances of the stock price resuming its upward momentum to move higher.

$84.35                Buy
$96.00                Price Target
$80.00                Risk Management Stop
2 weeks              Trade Duration

CFD Trading – Sell Anta Sports (2020.HKE) @ $71.00. Stop @ $79.55 & Target @ $60.50

This stock moved higher to $79.50 on 9 July and has been moving lower since then. It could be forming a potential Double Top reversal chart pattern and an Evening Doji Star reversal pattern was seen on 10 July. There is divergence warning given from the MACD as well. The conversion line has moved below the base line, and the lagging span is also below the price of the 26 days ago. Price is currently sitting at the upper edge of the cloud support. A bearish MACD crossover is likely in the coming session. We are likely to see price moving lower towards the resistance-turned-support zone at $60.50.

$71.00                 Sell
$60.50                Price Target
$79.55                 Risk Management Stop
2 weeks Trade Duration