CFD Trading – Buy Longfor Group (0960.HKE) at $24.35. Stop at $21.85 and Target at $30.30.

LONGFOR GROUP   Stock Code 0960.HKE

Outlook

A potential morning star candlestick pattern was formed yesterday at the gap support zone that formed on 16 August. The ability to hold above the gap is a sign that the uptrend is intact. This could be a hint that the price correction could have ended. MACD is turning up, hinting at the increased upward momentum. We are likely to see price rebounding from this support level to retest its recent high again in the next 1-2 weeks.

Strategy

$24.35                Buy

$30.30                Price Target

$21.85                Risk Management Stop

2 weeks             Trade Duration

CFD Trading – Sell Longfor Group (0960.HKE) at $36.95. Stop at $38.90 and Target at $33.80.

LONGFOR GROUP   Stock Code 0960.HKE

Outlook

The price rally was resisted by the Base line resistance point and price continues its downward movement after failing to penetrate the Base line. It could be forming a potential Head and Shoulder reversal chart pattern. MACD is bearish and is hinting at the downside. We are likely to see a price decline if it violates its recent low support, which is also the cloud support.

Strategy

$36.95                Sell

$33.80                Price Target

$38.90                Risk Management Stop

2 weeks             Trade Duration