1357 Meitu Head and shoulders buying opportunityBuy in the red box with a stop loss of 1,34 and targets of 7,5 and the resistance lines to scale out of your position
M5U trade ideas
Moderately bullish on MEITU 1357 HKThe 4 hour timeframe is shown in this analysis and commentary is provided below based on the numbers indicated on the chart:
1. A weak Price & Base Line bullish cross signal takes place below the kumo
2. But RSI divergence strengthen my intermediate bullish view on the stock
3. Due to a rapid slump by the beginning of 2018, the downside risk is limited at current price level
Target
1. Continuous rally Into the cloud range
2. Reaching 0.382 Fib retracement @ $7.5 in intermediate trend
