AIA Group Limited (1299.HK): Poised for a breakoutPublished On: 26 Apr 2021, 9:00 AM | Alex Lee, Dealer
- AIA Group Limited has been on a consolidation phase ever since the start of this year. Currently, it is trading within a descending triangle and is poised for a breakout as it approaches its final stage of the consolidation.
- A break below the support of the descending triangle at HK$92.45 will serve as an indication that the momentum has shifted towards the downside and we may see price extending towards the next support level at HK$86.40.
- However, if price closes above the resistance of the descending triangle, we can expect price to continue its longer term bullish trend and proceed to retest the high at HK$109.30.
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