Hey all ! Check $中国生物制药(01177.HK)$ out ! Price broke out of the descending trendline resistance, signifying an overall bullish momentum. We can expect price to bounce from pivot in line with 50% Fibonacci retracement towards take profit level in line with 127.2% Fibonacci projection. Our bullish bias is further supported by the Ichimoku cloud indicator where price is holding above it.
Potential Pivot level@6.08
Potential Take Profit level@6.47
Potential Sto...

Hey all ~ I am looking at $中国生物制药(01177.HK)$  today ! I see that price could possibly be abiding to the descending trendline resistance. I am expecting a further drop from the pivot level in line with 38.2% Fibonacci retracement towards the take profit level in line with 127.2% Fibonacci extension, 78.6% Fibonacci projection and -27.2% Fibonacci expansion. My bearish bias is further supported by the RSI indicator where it abides to the descending trendline resistance.
Potential Pivot level @ 5.76
Potential Take Profit level @ 5.41
Potential Stop Loss level @ 5.91
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