Tag: SHENZHOU INTL

SHENZHOU INTL   Stock Code 2313.HKE

Outlook

The recent price decline could have ended as price managed to stay above the gap support that is coinciding with the Conversion and Base lines This triple support is likely to be a strong price support.. A Bullish Engulfing candlestick pattern, which is a bullish price pattern, was seen yesterday. There is a bullish Conversion and Base lines crossover as well which is hinting of a bullish price trend. The MACD is moving higher towards its zero line after having a bullish crossover. We are likely to see price breaking above its recent high as well as the cloud resistance to move higher to HK$201.98 in the next 1-2 week.

Strategy                  

$179.00              Buy

$202.00              Price Target

$172.00              Risk Management Stop

2 weeks              Trade Duration

SHENZHOU INTL   Stock Code 2313.HKE

Outlook
Price rebounded after being supported by the gap support, keeping the bullish outlook of the stock price intact as it continues to form higher highs and higher lows. The Lagging Span is above the cloud and the price of 26 days ago, confirming the bullish trend. The MACD is bullish and a bullish crossover is likely, hinting of a bullish price trend ahead. We could see price continuing its upward momentum to move higher HK$220.73.

Strategy
$199.70              Buy
$219.90              Price Target
$191.00              Risk Management Stop
2 weeks             Trade Duration