Technical Analysis: China Aviation Limited November 2, 2016 16

China Aviation Ltd – Daily timeframe (Update from 20 Oct 16)


Current Sentiment: Bullish

Support 1: 1.300                   Resistance 1: 1.515

Support 2: 1.260                   Resistance 2: 1.580

Price headed higher as expected after the last update and started to consolidate after testing the 1.455 resistance area.

Nonetheless, buyers still appear to be in control as price broke above the 1.435 immediate range high with increasing volume on 01/11/16. Expect price to break above the 1.455 resistance area next to target the 1.515 resistance area.

Note: Our current fundamental view on China Aviation is a Buy rating with a fair value of $1.920

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About the author

Profile photo of Jeremy Ng

Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd

Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.

He is also a regular columnist on The Business Times - every Monday ChartPoint column.

He graduated with a Bachelor of Science in Banking and Finance from University of London.

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