$JD.com(JD)$ The $HSI(HSI)$ breached its 200 Day Moving Average (orange) last week but it still faces some resistance from a 3 year downtrend line (aqua).
I am anticipating a breakout for Chinese equities and my favorite chart so far is JD.com (JD) which has breached its 200 Day Moving Average with decent volume and a bullish engulfing weekly close.
First target would be the 3 year downtrend line (aqua) at $37. After hitting the first target we will implement a trailing stop loss strategy at $34. The goal is to keep all profits but also play the larger breakout above the downtrend line (aqua).
Second Target would be a gap fill around $51 see chart here.
Stop Loss: $28
Profit Target 1: $37
Trailing Stop: $34
Profit Target 2: $51
HKEX Stocks Opportunities
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