HKEX to find buyers at previous resistance?
HS50 - 24h expiry - We look to Buy at 19450 (stop at 19250)
We are trading at overbought extremes.
A lower correction is expected.
Short term bias has turned positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected although we prefer to buy into dips close to the 19430 level.
Our profit targets will be 19950 and 20000
Resistance: 20400 / 20965 / 21770
Support: 19140 / 18015 / 16325
We are trading at overbought extremes.
A lower correction is expected.
Short term bias has turned positive.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Further upside is expected although we prefer to buy into dips close to the 19430 level.
Our profit targets will be 19950 and 20000
Resistance: 20400 / 20965 / 21770
Support: 19140 / 18015 / 16325
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