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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Featuring regular TA posts and requests to analyse specific stocksAbout the author
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.