8NX trade ideas
HKEX:1316 Short term 20 days. Potential profit 19.1%HKEX:1316
Buy in @6.69
Cut loss @6.09
Target @7.97
5.95 to 6.52 buying zone for NexteerAs an automaker supplier, the fate of the auto industry globally has a big impact on Nexteer performance. If the dark cloud hanging over automakers in 2020 will to be clear and improved, the share price of Nexteer can be expected to outperform, shooting up and breaking out of the bearish trend line.
In buying a product stock, the risk of product recall will always be there. And the market is constantly filled with it, especially the automakers market. So those who need further assurance, may want to dig deeper into its fundamentals.
There are 2 support level which I think the price action will visit shortly and am expecting a rebound from there. Those would be the areas where I am initiating a buy . 5.95 is the threshold, if this level is broken down, buying cease.
