Technical Pulse: Haitong Securities Co Ltd November 8, 2019 688

Haitong Securities  (HK: 6837) will most likely be heading for a bulls recovery based on the technicals below:   

  1. Falling wedge formation will likely head into a bullish movement especially after the price breaks the wedge formation.
  2. Inverted head and shoulder formation signals a potential bullish reversal.
  3. Bullish engulfing candle formation engulfs the doji candle, signalling a resilient bullish sentiment.
  4. The bullish engulfing is seen trying to break the top of the Bollinger band. Additionally, both the upper and middle band are signalling an uptick movement.
  5. Elliott wave count suggests a final 5th wave movement in the making of the A corrective wave.



Bollinger Bands

Red dotted line = Upper Bollinger band

Green dotted line = Lower Bollinger Band

Blue dotted line = Middle Bollinger Band


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