Technical Pulse: CITIC Securities Co Ltd August 23, 2019 281


Support 1: 10.40                     Resistance 1: 8.39


CITIC Securities (HK:6030) has the opportunity for a bullish reversal based on the technicals bellow. However, the 2 doji candles in the recent two periods make us worry about further weakness near term. Our entry point will be lower.

  1. Falling Wedge formation suggests a strong breakout to the upside.
  2. Strong demand zone located near the 88.6% retracement level from 86-13.54.
  3. Both the retracement level of 88.6% of 15-12.90 and 16.86-13.54 have a positive confluence zone near the demand zone.



Red Line = 200 periods moving average

Blue line = 50 periods moving average

Green line  = 22 periods moving average

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