Tag: Zijin Mining Group

CFD Trading – Buy Zijin Mining (2899.HKE) at $9.26. Stop at $8.90 and Target at $9.90.

Shueh Ting Wong

ZIJIN MINING   Stock Code 2899.HKE

Outlook

Price rebounded from the base line which is acting as support currently. Conversion and base lines remain in a bullish crossover that hints at potential upside ahead. Lagging Span is above price of 26 days ago but is below the cloud. MACD is bullish and is rising, suggesting the upward momentum ahead. These could increase chances of the stock price moving higher to HK$9.90 in the next 1-2 weeks.

Strategy                  

$9.26                 Buy

$9.90                 Price Target

$8.90                 Risk Management Stop

2 weeks              Trade Duration

CFD Trading – Buy Zijin Mining(2899.HKE) at $10.70. Stop at $10.30 and Target at $11.50.

Shueh Ting Wong

ZIJIN MINING   Stock Code 2899.HKE

Outlook

The recent price correction appears to be supported by the Base line, which is also the gap support zone. Conversion and base lines remain in a bullish crossover that hints at potential upside ahead. MACD is rising towards its zero line as well. These could increase chances of the stock price rebounding from this support area to move higher.

Strategy                  

$10.70                Buy

$11.50                Price Target

$10.30                Risk Management Stop

2 weeks              Trade Duration

CFD Trading – Buy Zijin Mining Corp @$5.10. Stop at $4.70 and Target at $5.80

Shueh Ting Wong

ZIJIN MINING Stock Code 2899.HKE

Outlook
This stock is currently being supported by the conversion line, which is acting as the first layer of support at the moment. Price has been consolidating within a triangle pattern since 9 July. The momentum indicator, the RSI, is still strong and is rising at the moment. These could increase the chances of stock price breaking above the triangle pattern to move higher towards $5.80, which is the Ichimoku V projection target.

Strategy
$5.10                 Buy
$5.80                 Price Target
$4.70                 Risk Management Stop
2 weeks Trade Duration