Citic Pacific (267)

Perfect Box Breakout Chart.

The drama of this chart is very simple.  The breakdown from 20 dollars to 4 dollars was mainly the derivative losses coming from the company’s AUDUSD position.  If you look at the AUDUSD currency chart position, it is very similar.  They are identical twins.

The AUDUSD chart looks like it’s going to go back to 80 cents.  It just broke out and is in a reversal pattern from the confirmed breakout at 74 cents.

267 HK or Citic Pacific broke out today too at the breakout price of 13.20.  This is a very bullish chart.  The probabilities of making money in this trade is 80-90%.
The MACD is essentially telling you to buy.  The DMI is also telling you to buy with an ADX line greater than 30.

Recommendation:  Buy 13.50 – 14.  Place your stop loss at 13.20 (the breakout price).  Target is 20 dollars.
I am very confident that you will make money in this chart.  Just follow your trading plan.  Don’t chase the price.

Disclosure:  The author is long 267 and AUDUSD.