AIA has been knocking on overhead resistance at $7.21 since the start of the year. Price is being 'squeezed' between that level and a rising uptrend support line. This pincer movement should see price break and hold above resistance - in which case a target of $8.70 is suggested. Note that price also has the potential to fall back below the uptrend and while a move up is seen as more likely, a buy before the break and hold above resistance would entail some risk.

AIA 16Jul21

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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