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Shenwan Hongyuan ST: the upside prevails as long as 4.77 is support
Trading Central | 2019-09-17 17:32:00

Our preference: the upside prevails as long as 4.77 is support.

4.77 is our pivot point.

Our preference: the upside prevails as long as 4.77 is support.

Alternative scenario: the downside breakout of 4.77 would call for 4.57 and 4.46.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is below its 20 day MA (4.96) but above its 50 day MA (4.86).

Supports and resistances:
5.66 **
5.54 *
5.42 **
5.3
4.94 (CNY-last)
4.84
4.77 **
4.57 *
4.46 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 09-17-2019 at 19:32 UTC+1
Price reference: 4.94 last known on 09-17-2019 at 19:32 UTC+1
Investment horizon: ST

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