1299 Bearish DivergenceBearish divergence seen on 1 hr graph.
Expect to see 1299 leading drop with HSI in coming few weeks
Trade ideas
1299 short on dailyMissed take profit by a penny, therefore moved stop right above previous consolidation and put take profit few pennies lower.
Monthly shows a good bearish hammer. Don't see no reason not to go lower.
Would've exit 30% here, but my lot is not divisible.
AIA also looks weak but...AIA 1299 cannot break 92 , if break means can go more higher, but it looks weak and it might potentially can drop to 85
AIA is approaching support, potential bounce Prices are approaching support in line with our ascending trend line where we could see a bounce here.
AIA is facing bullish pressure Prices are facing bullish pressure from our support and could see a further upside above this level.
1299 (HKEX) - BullishGreetings
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Strategy
- Please care for Money Management
- Have a good psychology
- Do not be hurry to open position
- Evaluate and upgrade your trading plan
Analysis
1299 (HKEX) - Bullish
Nice setup with AIA (HKSE :1299)I seldom made any recommendation about companies in Hong Kong, but I just accidentally observe a great setup with HKEX:1299 which I think could be a great long target in short term.
I dont think we need any introduction of AIA, one of the largestest insurnace giant in the world. Its stock price has trading within the same 20% range for almost a year.
Since late 2020, its has formed some uptrend price action and been gradually getting strong support inside an upward tunnel. I like that it has formal a strong double base at around $93 and is now breakthru 100 within 10 trading days.
Its earning release is coming, with the current price action and 2:1 risk reward ratio (cut lost @ 93 / take profit at 115), it appears to be a great target to add into my position.
Resistance hit around 83.80 and daily double topShort to 79.50. Prediction based on 229MA intersection and double top on the daily.
This is not deemed to be advice, this is my personal view and for the purpose of training.
