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China Mengniu Dairy Co ST: the downside prevails as long as 31.5 is resistance
Trading Central | 2019-09-17 23:30:00

Alternative scenario: the upside breakout of 31.5 would call for 33.05 and 33.95.

31.5 is our pivot point.

Our preference: the downside prevails as long as 31.5 is resistance.

Alternative scenario: the upside breakout of 31.5 would call for 33.05 and 33.95.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 31.24 and 31.22).

Supports and resistances:
33.95 **
33.05 *
31.5 **
30.85
30 (HKD-last)
28
27.05 **
26.15 *
25.25 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 09-18-2019 at 01:30 UTC+1
Price reference: 30.00 last known on 09-18-2019 at 01:30 UTC+1
Investment horizon: ST

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