I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Tuesday, 24 April 2018
CCB (939:HK) Expecting Mark Up towards HK$8.60
China Construction Bank (939:HK)
The stock price made a breakout this morning, out of its possible accumulation zone since mid Feb 2018. A breakout would suggest the stock is ready for Mark Up towards 1st target at HK$8.60 with 2nd target at HK$9.00.
The stock's momentum also showed signs that the bears are exhausting as MACD indicator flattens and suggest a reversal of momentum may be in the cards.
A break below HK$8.00 will falsify the set-up.