Trader Type: Intraday/Active
Tencent (HK): -0.04% (08:21am SA Time)
Chinese Tech ETFs (US Market). Tuesday, 14-Dec.
KWEB: -0.84%
CQQQ: -1.15%
Chart Time Frame: 1-Hour
Last: 250460c
How I'm Seeing It: Yesterday morning the share spent the first 10-min trading slightly below out support range of R2468-R2477 before consolidating in that range for the rest of the hour. Following that we saw a R50 rebound to an intraday high of R2518. With the Tencent unchanged in HK, I'm expecting subdued price action, although the JSE futures close out could have an effect on prices. Levels: We could see R2578-R2488 act as a support area while R2529-2534 is a likely resistance zone.
Tencent (HK): -0.04% (08:21am SA Time)
Chinese Tech ETFs (US Market). Tuesday, 14-Dec.
KWEB: -0.84%
CQQQ: -1.15%
Chart Time Frame: 1-Hour
Last: 250460c
How I'm Seeing It: Yesterday morning the share spent the first 10-min trading slightly below out support range of R2468-R2477 before consolidating in that range for the rest of the hour. Following that we saw a R50 rebound to an intraday high of R2518. With the Tencent unchanged in HK, I'm expecting subdued price action, although the JSE futures close out could have an effect on prices. Levels: We could see R2578-R2488 act as a support area while R2529-2534 is a likely resistance zone.