In today’s briefing:
- Agricultural Bank of China Ltd (1288 HK) – Target 13%-24% Uptrend in 2-3 Quarters.
- AAG Energy (2686) Favors Buying Weakness
Agricultural Bank of China Ltd (1288 HK) – Target 13%-24% Uptrend in 2-3 Quarters.
- At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
- The LT downtrend structure in 1288 HK was simply defined by its 2018/2022 sequence of lower highs and lower lows. This structure was broken last week.
- LT momentum indicators (monthly RSI / MACD) have recently confirmed this bullish LT trend change. The current uptrend appears set to extend towards 3.60/3.90 (+13%-24%) in the coming 2-3 quarters.
AAG Energy (2686) Favors Buying Weakness
- AAG Energy (2686) exhibits a clear wedge range to trade with an intermediate positive outcome as long as lower wedge support stands up near outlined 1.50 support.
- The intermediate cycle favors a bullish outcome as long as lower pattern support holds true. Wedge still needs time to mature.
- 1.70 is the level to clear for bull traction. Risk to 1.40 region if we fail to hold lower wedge support at 1.48.
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