HKEX:3306, potential profit 22%

3306 is in a forth wave of a impulse, which is a classic triangles correction with the volume decrease at the end. The direction should be cleared soon and we expected the direct will go up because recently it can stand with volume above the shooting star (red line). For the target of this trade, as we are not sure if it is the third wave or the final wave of the impulse, we set the target from both Fib Extension from the third and the fifth wave. Coincidentally, the 3.618 of the third wave and the 1.618 of the fifth wave are nearly overlapped.
Cut loss @14.58
Target @19.42
Buy in @current price

Trade closed: stop reached:

cut loss @14.58 on 2019-05-09