Ping An Insurance (2318.HK): Bullish Setup

Published On: 30 September 2024, 9:20 AM | Donny Lew, Assistant Manager, Dealing

Key Entry Price Pivot(s):
  • HK$42.50
Recommended Trade:
  • Long at level HK$42.50
  • Take Profit at HK$57
  • Stop Loss at HK$35
Alternative Case:
  • Short below HK$35
  • Take Profit at HK$30
  • Stop loss at HK$40
Remarks:
  • Looking at the weekly chart of Ping An Insurance, we can see that the price has broken out from the trend line.
  • Currently, we are waiting for the price to pull back at the support level at around HK$42.50. We can potentially look for a long trade at this level in a lower timeframe with confluence such as a bullish bar at the support level with significant volume.