CFD Trading – Buy China Oilfield (2883.HKE) at $8.23. Stop at $7.75 and Target at $9.35.

CHINA OILFIELD   Stock Code 2883.HKE

Outlook

Price is currently consolidating within a rectangle pattern inside the cloud. The consolidation did not go below the cloud, keeping the bullish trend intact. The lower edge of the cloud is acting as a key support at the moment. Lagging span is above the cloud but is below the price of 26 days ago, unable to confirm the bullish trend. MACD is hovering around the zero line and a bullish crossover is likely. We see price rebounding from the cloud support to retest its high again.

Strategy                  

$8.23                 Buy

$9.35                 Price Target

$7.75                 Risk Management Stop

2 weeks              Trade Duration

CFD Trading – Buy China Oilfield Services (2883.HKE) at $6.35. Stop at $5.70 and Target at $7.80.

CHINA OILFIELD Services Stock Code 2883.HKE

Outlook
The stock outlook has turned positive as price is now trading above the cloud. Price broke above the previous high resistance during the last trading session with a long bullish candlestick, which reinforces the bullish trend. There was an earlier bullish Conversion and Base lines crossover that hints of a bullish price trend. Lagging Span is above price of 26 days ago but is inside the cloud at the moment. MACD is also bullish and is rising further, suggesting more upside ahead. We could see price continuing its upward momentum to move higher.

Strategy                  
$6.35                 Buy
$7.80                 Price Target
$5.70                 Risk Management Stop
1 week               Trade Duration