Friday, November 29, 2019

PetroChina – Downtrend Intact

  • PetroChina is still a significant underperformer within the China A50 index stocks as price action maintains a series of lower highs that has formed since November 2018.
  • Today it broke its 3.70 support and if it stays below this level, it could test the next support at 3.44 in the short term.
  • It trades significantly below its 200-day MA and the longer price objective points to a target of 3.11.
All posts and charts are for educational and illustration purposes only

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