Tag: Sunny Optical

Sunny Optical Stock Code 2382.HKE

Outlook

Price was capped by the upper edge of the cloud two days ago and in the previous trading session, there was a bearish Engulfing candlestick price pattern which confirms the end of the price correction and the resumption of the bearish price trend. Lagging Span is above price of 26 days ago but is below the cloud. MACD remains bearish and is turning down from the zero line, which is a sign of a bearish price trend ahead. We see the decline going to the previous low at HK$184.05 in the next 2-3 week ahead.

Strategy

$206.00              Short Sell

$184.05              Price Target

$221.50              Risk Management Stop

3 weeks Trade Duration

SUNNY OPTICAL Stock Code 2382.HKE

Outlook
Price has been declining after reaching a high at HK$241.80. It is now sitting at the upper edge of the cloud, which is acting as support at the moment. A potential Morning Star candlestick pattern could have formed and we would like to see a confirmation above HK$205.00 to confirm the low. Conversion and Base lines could be about to have a bullish crossover. The MACD is still strong and bullish and a bullish MACD crossover is likely. We could see price rebounding from the cloud support to retest its high again.

Strategy                  
$206                  Buy
$240                  Price Target
$185                   Risk Management Stop
2 weeks             Trade Duration