1833 TARGETS 57.40An interesting example from the Hong Kong Stock Exchange that exemplifies a long term uptrending stock under going a correction in the short and medium term.
Long term trend is still up as long as the supertrend line at 57.40 holds during pullback.
Wait for the test and rebound of 57.40 before considering entry.
Medium trend start 190818 and ended on 071220 for a total of 16 months.
Short Entries now at 89.40 targeting 57.40.
Only a break above the pivot of 109.9 will trigger a new uptrend for now.
Short term downtrend started at 113.30 on 210820. Target was 90.05. New target is 57.40.
Only a break above the pivot of 98.35 will trigger a new uptrend for now.
Bottom line.
1833 is in a short/medium term downtrend within a long term uptrend targeting 57.40.
Buy only at the break above 98.35 on the daily charts. You will start see see the 4hr price action turn above the SSSA line on the cloud when this happens. A confirmation in the medium term will be obtained when the position breaks above 109.45.
Use this example to look for similar setups where you learn how to buy on weakness in uptrending long term stocks.
