Technical Pulse: MTR Corp Ltd April 9, 2020 299

MTR Corp (HK: 66) is headed for another sell-off after the strong rebound in late March 2020:

  1. The stock rebound was capped at the resistance turned support level at 42.55 and formed a bearish engulfing candle.
  2. The bearish engulfing rejects the 50% simple moving average and closes below the 61.8% of the Fibonacci level from 45.85-37.95.
  3. Death cross is still valid as prices have been trending below the 200 and 50 Simple moving average.
  4. Stochastic shows oversold bearish cross over above the 80 oversold zone.


*The technical call is valid only for 3 weeks.



Simple moving average

Blue line = 50 SMA

Red line = 200 SMA

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