CNOOC Stock Code 0883.HKE
Outlook
Price managed to stay within the cloud, keeping the uptrend intact. It rebounded from the lower boundary of the cloud support. Conversion line is moving higher and we are likely to see a bullish conversion and base lines crossover in the coming session. MACD is bullish and a bullish crossover is likely as well. These could increase chances of the stock price moving higher.
Strategy
$9.84 Buy
$10.90 Price Target
$9.40 Risk Management Stop
2 weeks Trade Duration
CNOOC Stock Code 0883.HKE
Outlook
The outlook of this stock is positive as price is trading above the cloud. Price closed with a gap up yesterday, showing an increased in upward strength. There is also a bullish Conversion and Base lines crossover that hints at potential upside ahead. The Lagging Span is above the cloud and the price of 26 days ago, confirming the bullish trend. The MACD is still bullish and is moving higher. We are likely to see price continuing its upward momentum to move higher.
Strategy
$8.50 Buy
$9.20 Price Target
$8.15 Risk Management Stop
2 weeks Trade Duration
CNOOC Stock Code 0883.HKE
Outlook
Price broke and closed above the cloud yesterday, turning the stock outlook from bearish to bullish. It also triggered an Ichimoku V-shaped reversal pattern. There is also bullish Conversion and Base lines crossover that hints for potential upside ahead. Lagging Span is above price of 26 days ago but is inside the cloud at the moment. The MACD is bullish and is moving higher, suggesting increased upward momentum. We are likely to see price continuing to move higher towards its previous resistance high.
Strategy
$8.30 Buy
$8.90 Price Target
$7.90 Risk Management Stop
2 weeks Trade Duration
Outlook
Price has been forming higher highs and higher lows, which is the characteristic of an uptrend. There was a bullish Conversion lines and Base line crossover that hints for a potential bullish price trend ahead. Lagging Span is above price of 26 days ago but is currently inside the cloud. The MACD indicator is bullish and there was a bullish MACD crossover. We could see price continuing its momentum to break above its recent high, which is also the cloud resistance, to move higher to HK$10.03.
Strategy
$8.96 Buy
$10.00 Price Target
$8.40 Risk Management Stop
2 weeks Trade Duration
