HakoneDream
Long

SMIC Updated Analysis

SMIC (HKEX:981)  
HKEX:981   SMIC
Dear traders and friends,

Welcome to my updated analysis of this TSM's potential rival in the future. This asset successfully bounced up from the buy-back zone I posted last week. Two consecutive trend-reversal candlesticks have appeared, indicating the potential formation of a major low from here. If today's candle can close engulfing yesterday's doji , then the price could go up to the golden pocket region, from 37.4 to 37.95 USD. Please see the chart.

Have fun and enjoy!

HakoneDream
Comment: Reverse bearish and test the buy-back zone again. Can this one hold?
Comment:
Seems like the major low has formed!

Comments

Now? buyback again? it seems gonna ranging for a while.
Reply
@BtNd, I think it's not a bad idea to accumulate a small bag from here and set up a tight stop loss. Looks pretty promising to me.
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Maybe the price will fall back to the first buy-back zone again next week.
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HakoneDream Amitabha_S
@Amitabha_S, Agree! This is highly possible. If this happens and the price holds, it could offer another entry opportunity.
Reply
Amitabha_S HakoneDream
@HakoneDream, Yep. The price is approaching to this level
, maybe it's time to place a small bet. But I'm gonna wait for another couple of days.
Reply
HakoneDream Amitabha_S
@Amitabha_S, Great! Best of luck for your trading my friend.
Reply
Amitabha_S HakoneDream
@HakoneDream, Thanks~ Right back at you, man!
Reply
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