Tag: Shanghai Petrochemical

CFD Trading – Buy Shanghai Pechem (338.HKE) at $1.52. Stop at $1.40 and Target at $1.69.

Shueh Ting Wong


SHANGHAI PECHEM   Stock Code 0338.HKE

Outlook

Price could have formed a base low at HK$1.39. Price broke and closed above its recent price high resistance yesterday with a bullish candle, hinting at a bullish price trend. Price also triggered an Ichimoku V-shape reversal pattern. Conversion line is turning up and a bullish Conversion and Base lines crossover is likely. MACD is giving a divergence warning that hints at possible bullish price trend ahead. We are likely to see price moving higher.

Strategy                  

$1.52                 Buy

$1.69                 Price Target

$1.40                 Risk Management Stop

2 weeks              Trade Duration

CFD Trading – Buy Shanghai Pechem (338.HKE) at $1.94. Stop at $1.85 and Target at $2.13.

Shueh Ting Wong

SHANGHAI PECHEM   Stock Code 0338.HKE

Outlook
The outlook of this stock price remains bullish as price has been trading above the cloud. The Lagging Span is above the cloud and the price of 26 days ago, confirming the bullish price trend. A bullish Conversion and Base line crossover is likely in the coming session. The MACD is still bullish at the moment, with both of its lines are above the zero line. These could increase chances of the stock price moving higher to HK2.14.

Strategy                  
$1.94                 Buy
$2.13                 Price Target
$1.85                 Risk Management Stop
2 weeks            Trade Duration