Trade Idea for Hong Kong Exchanges & Clearing (HKEX)

Hong Kong Exchanges & Clearing (HKEX)

#HK_EX&CLEARI

The trend is bullish. The bearish wave structures are truncated. The stock is trading within the range of the 365 and 135 EMAs. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy upon the formation of a new bullish wave structure, where wave (A) breaks above 400.8 (the pivot of wave 2 of wave C in the truncated bearish structure).

Stop Loss – below the local low of the truncated bearish structure.

Target levels – 412.5; 423.0.