Tag: PICC P&C

PICC P&C   Stock Code 2328.HKE

Outlook

The chart outlook remains bearish as price is trading below the cloud. Price further violated its recent price’s low support level, reinforcing the bearish outlook. Both conversion and base lines are heading lower after having a bearish crossover, suggesting a strong bearish price trend. MACD is also bearish and is moving lower. We are likely to see price continuing its downward momentum to move lower in the next 1-2 weeks.

Strategy                     

$7.24                 Sell

$6.65                 Price Target

$7.55                 Risk Management Stop

2 weeks              Trade Duration

PICC P&C   Stock Code 2328.HKE

Outlook

After reaching a high of HK$8.87 on 15 September 2022, price went into a decline .The uptrend remains intact as price is still trading above the cloud. The cloud is currently acting as support to halt the price decline. The lagging span is above the cloud but is below the price. MACD is hovering around the zero line. As long as price stays above the cloud, we are likely to see price rebounding to retest its high again.

Strategy

$8.21                 Buy

$8.80                 Price Target

$8.08                 Risk Management Stop

2 weeks             Trade Duration

PICC P&C   Stock Code 2328.HKE

Outlook

Price broke and closed above its recent price high with a long bullish candle, showing the strong upward strength. A bullish conversion and base lines crossover is likely in the coming session, hinting at the bullish price trend. The MACD is rising towards the zero line after having a bullish crossover. These could increase chances of the stock price moving higher to HK$9.00 in the next 1-2 weeks.

Strategy                  

$8.14                 Buy

$9.00                 Price Target

$7.70                 Risk Management Stop

2 weeks              Trade Duration

PICC P&C   Stock Code 2328.HKE

Outlook

The price correction was halted at the lower edge of the cloud support, which is also the Conversion line support. This support zone coincides with the Fibonacci 50% correction point as well as the gap support. MACD is near to the zero line and a bullish crossover is likely, hinting at possible price rally ahead. We are likely to see price rebounding from this strong support zone to move higher to the previous high at HK$8.55 in the next 1-2 weeks.

Strategy                  

$7.60                 Buy

$8.50                 Price Target

$7.20                 Risk Management Stop

2 weeks              Trade Duration

PICC P&C   Stock Code 2328.HKE

Outlook

Price is currently having a price correction after hitting a high at HK$8.65. A long-legged Spinning Top candlestick pattern was formed at the Fibonacci 50% correction point yesterday, which could be a hint of a possible rebound. The bullish price trend remains intact and MACD is bullish. We are likely to see price rebounding to retest its previous high of HK$8.60 again in the next 1-2 weeks.

Strategy                  

$7.68                 Buy

$8.60                 Price Target

$7.35                 Risk Management Stop

2 weeks           Trade Duration