HKEX Stock Code 0388.HKE
Outlook
The chart outlook of this stock is bearish as price is trading below the cloud. Conversion and base lines remain in a bearish crossover that hints at potential downside ahead. MACD is bearish and is moving lower, hinting at the strong bearish price trend. We are likely to see price continuing to move lower to the next support at $317.40 in the next 1-2 weeks.
Strategy
$342.20 Sell
$317.40 Price Target
$354.65 Risk Management Stop
2 weeks Trade Duration
Outlook
Since the second break above the cloud, this stock has been moving higher along with the rising Conversion line which is currently acting as support. There was also bullish Conversion and Base lines crossover that hints for potential upside ahead. Price broke out from a Flag pattern, which is one of the continuation patterns, during the last trading session hinting of a bullish price trend ahead. The MACD is bullish and is moving higher. We are likely to see price continuing its upward momentum to move higher HK$581.20 in the next 1-2 weeks.
Strategy
$535.00 Buy
$581.00 Price Target
$510.00 Risk Management Stop
2 weeks Trade Duration
Outlook
Price has been moving higher from the base low at HK$421.00. There was a bullish Conversion and Base lines crossover that hints for potential upside ahead. The MACD has turned bullish and both of its lines are above the zero line and are moving higher. These could increase the chances of the stock price breaking above its overhead cloud resistance to move higher. Price could be moving higher to the previous high at HK$571.
Strategy
$505.00 Buy
$570.00 Price Target
$470.00 Risk Management Stop
2 weeks Trade Duration
