Tag: PICC P&C

PICC P&C   Stock Code 2328.HKE

Outlook

The outlook of this stock remains bullish as price is still trading above the cloud. There is a bullish Conversion and Base lines crossover that hints for potential upside. Price is now trading near to its Base line support with the formation of a Hammer candlestick pattern reinforcing the possibility of a possible low being formed. MACD is still bullish at the moment. These could increase chances of the stock price rebounding from the Base line support to retest its high again.

Strategy                  

$7.10                 Buy

$7.60                 Price Target

$6.80                 Risk Management Stop

2 weeks              Trade Duration

PICC P&C   Stock Code 2328.HKE

Outlook
A Bearish Engulfing reversal candlestick pattern was formed during the last trading session after testing its previous high of HK$7.68. It could be a hint of potential Double Top reversal pattern as well. The MACD is still bullish now, but the histogram is losing its upward momentum. We could see a price correction towards the resistance-turned-support zone, which is also near to its Base line support at HK$6.80.

Strategy                  
$7.48                 Sell
$6.80                 Price Target
$7.76                 Risk Management Stop
2 weeks             Trade Duration
Please contact your TR to borrow scrip before shorting.

PICC P&C   Stock Code 2328.HKE

Outlook
The outlook of this stock price is positive as price has been trading above the cloud. There is also a bullish Conversion and Base lines crossover that hints for potential upside ahead. Price could have formed a potential Rounding Bottom chart pattern, which is one of the reversal patterns. The MACD is also strong and bullish. Both of its lines are still moving higher, suggesting of a strong upward price momentum. We are likely to see price breaking above the HK$6.78 to confirm the chart pattern and to move higher.

Strategy
$6.80                 Buy
$7.80                 Price Target
$6.30                 Risk Management Stop
2 weeks             Trade Duration