Tag: Sinopec Shanghai Pechem

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

CFD Trading – Buy Sinopec Shanghai Pechem (338.HKE) at $1.70. Stop at $1.54 and Target at $1.95

Shueh Ting Wong

Outlook
Price reached a high of HK$1.81 on 25 November 2020 and has been on a decline since then. This decline could have ended as it has supported above the cloud, keeping the bullish trend intact. The Conversion line is moving higher and a bullish Conversion and Base line crossover could be likely. The MACD remains bullish and there is a bullish MACD crossover that hints of a bullish price trend ahead. We see price resuming its upward momentum and moving higher to HK1.95 in the next two weeks.

Strategy                  
$1.70               Buy
$1.95               Price Target
$1.54                Risk Management Stop
2 week              Trade Duration