Technical Pulse – ZTE Corp November 20, 2019 79


ZTE Corp (HK: .763) might see a strong bullish trend after prolong period of ranging. Based on the technicals below, the bullish cause might even continue higher should the immediate resistance of 24.25 breaks:

  1. Bullish flag formation signifies a bullish continuation.
  2. Morning Star candle above 61.8% of the Fibonacci retracement from 30-24.25.
  3. Inverted head and shoulder formation signify a potential bullish breakout.
  4. 22, 50 and 200 SMA has performed a bullish crossover respectively, strengthening the case of a bullish continuation.
  5. Prices has been trending above the 200 and 50 major moving averages.



Simple Moving Averages

Red dotted line = 200 SMA

Blue dotted line = 50 SMA

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