Tag: Geely Auto

Geely Auto Stock Code 175.HKE

Outlook

Price moved below the cloud two days ago and yesterday, price continued to move lower, keeping the bearish trend intact. The strong black candle in the previous trading session is another sign of a bearish price trend. The conversion and base lines had a bearish crossover, hinting at a bearish price trend. The lagging span is below price of 26 days ago and below the cloud, confirming the bearish price trend. The MACD indicator is moving lower and is likely to turn bearish if there is another day of price decline. We think price is likely to decline to the previous low at HK$21.36 in the next 2-3 weeks.

Strategy

$23.64                Short Sell

$21.36                Price Target

$24.90                Risk Management Stop

3 weeks Trade Duration

GEELY AUTO   Stock Code 0175.HKE

Outlook
The outlook of this stock is bullish as price is trading above the cloud. Price rebounded from the Base line support yesterday after forming a Bullish Engulfing reversal candlestick pattern, suggesting that the recent price correction could have ended. Lagging Span is above price of 26 days ago and is near to at the upper edge of the cloud. A move above would confirm the bullish price trend. The MACD is still bullish at the moment with both of its lines are above the zero line. We could see price continuing its upward momentum to move higher.

Strategy                  
$24.60                Buy
$29.00                Price Target
$22.55                Risk Management Stop
2 weeks              Trade Duration

GEELY AUTO Stock Code 0175.HKE

Outlook
Price has been on a decline since January 2021. It is in a downtrend now as price is forming lower highs and lower lows. Price was capped by the declining Base line which is acting as resistance at the moment. There is a bearish Conversion and Base line crossover that hints of a bearish price trend ahead. The MACD is also bearish with both of its lines are far below the zero line. A bearish MACD crossover is likely. We could see a further price decline to HK$14.73 if price were to break below its recent low of HK$18.90.

Strategy
$18.88                Sell
$14.75                Price Target
$21.20                Risk Management Stop
2 weeks             Trade Duration

GEELY AUTO   Stock Code 0175.HKE

Outlook
This stock has been moving lower since 26 January 2021. There was a bearish Conversion and Base lines crossover earlier that hints of a bearish price trend going forward. Lagging Span is below price of 26 days ago but is above the cloud at the moment, hinting of a weak bearish trend at the moment. Price is now trading inside the cloud and is supported by a previous low price. MACD has been declining and both of its lines are near to the zero line and are still falling. These could increase chances of the stock price breaking below the cloud support to move lower to the next support at $21.99.

Strategy                  
$27.55                Sell
$22.00                Price Target
$30.90                Risk Management Stop
2 weeks              Trade Duration

GEELY AUTO   Stock Code 0175.HKE

Outlook
Price gapped up on 8 January 2021 and has managed to stay above this gap support since then. It is now consolidating within a Pennant chart pattern, which is one of the continuation chart patterns. The Conversion line is acting as support at the moment. Lagging Span is above price of 26 days ago and is also the cloud, confirming the bullish price trend. MACD is still bullish with both of its lines above the zero line. These could increase chances of the stock price breaking out from the Pennant pattern to move higher.

Strategy                  
$35.00                Buy
$40.50                Price Target
$31.70                Risk Management Stop
1 week               Trade Duration