CHINA OILFIELD Stock Code 2883.HKE
Outlook
The price correction was halted at the cloud support, keeping the uptrend intact. This support also coincides with the Fibonacci 62% correction point. MACD remains bullish at the moment and the fast line is turning up. We are likely to see price rebounding from this key support zone to retest its recent price high resistance zone again in the next 1-2 weeks.
Strategy
$7.96 Buy
$8.88 Price Target
$7.50 Risk Management Stop
2 weeks Trade Duration
CHINA OILFIELD Stock Code 2883.HKE
Outlook
Price managed to stay within the cloud during its correcting, keeping the uptrend intact. The conversion and base lines remain in a bullish crossover and the base line is acting as support currently. The MACD is strong and bullish, and is turning up. A bullish MACD crossover is likely in the coming session. We are likely to see price continuing to move higher in the next 1-2 weeks.
Strategy
$8.40 Buy
$9.70 Price Target
$7.95 Risk Management Stop
2 weeks Trade Duration
Outlook
This stock could have formed a bottom at HK$7.01. There was a divergence warning given from the MACD that hints of a possible price low and a potential rebound ahead. The Conversion line is moving higher and a bullish Conversion and Base line crossover is likely. There is also a bullish MACD crossover that hints for a potential bullish price trend ahead. These could increase the chances of this stock price moving higher from here to the next resistance at HK$9.70
Strategy
$8.20 Buy
$9.70 Price Target
$7.50 Risk Management Stop
2 weeks Trade Duration
