Past performance is not a reliable indicator of future performance
Haitong Securities (HK: 6837) will most likely be heading for a bulls recovery based on the technicals below:
- Falling wedge formation will likely head into a bullish movement especially after the price breaks the wedge formation.
- Inverted head and shoulder formation signals a potential bullish reversal.
- Bullish engulfing candle formation engulfs the doji candle, signalling a resilient bullish sentiment.
- The bullish engulfing is seen trying to break the top of the Bollinger band. Additionally, both the upper and middle band are signalling an uptick movement.
- Elliott wave count suggests a final 5th wave movement in the making of the A corrective wave.
Red dotted line = Bollinger upper band
Green dotted line = Bollinger lower band
Blue dotted line = Bollinger middle band