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Week Ahead: Ping An Insurance (2318 HK): Potential Entry Into Markup Phase

 



Ping An Insurance (2318 HK):
Potential Entry Into Markup Phase

Ping An has almost complete a long Wyckoff accumulation and is now testing the HKD 60 resistance level. A strong close above 60 would confirm a Sign of Strength and begin a markup phase.

On Friday, Morgan Stanley added Ping An to its focus list, kept an Overweight rating, and raised its H-share target to HKD 89. The stock jumped over 6 percent on the news.

Short-Term Trade Setup
• Stop-loss: Close below HKD 54–55
• Targets: HKD 75–78, then HKD 85–89

Technical structure and the MS upgrade create a favourable setup for upside continuation.

http://www.aastocks.com/en/stocks/analysis/stock-aafn-con/2318/HK6/NOW.1488699/hk-stock-news

Disclaimer apply


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