Indices | ChiNext Index | At current levels, the chart structure suggests that there is potentially a shift in trend underway, with the price:
a) Having breached the 4-year downward trend line
b) Re-testing and holding the breakout
c) developing an inverse head and shoulder and imminent breach of the neckline resistance
A break and close above the highs of 2058 could confirm that renewed buying is underway where the target of the inverse head and shoulder formation is 2670. Supporting the bull case is the RSI consolidating above 55 while the price is support by the 40-week moving average and starting to trend higher.
Investor could look to participate via the VanEck Vectors ChinaAMC SME-ChiNext ETF.
a) Having breached the 4-year downward trend line
b) Re-testing and holding the breakout
c) developing an inverse head and shoulder and imminent breach of the neckline resistance
A break and close above the highs of 2058 could confirm that renewed buying is underway where the target of the inverse head and shoulder formation is 2670. Supporting the bull case is the RSI consolidating above 55 while the price is support by the 40-week moving average and starting to trend higher.
Investor could look to participate via the VanEck Vectors ChinaAMC SME-ChiNext ETF.