ASHR quietly surpassed April high ($24.86 vs. $25.03) and I think it is ready to challenge the 40 week MA and the red resistance line ($26 level). The bullish case can be confirmed once it is able to close above the red resistance (if that happens, $37 is possible).
So far so good. Might be working on a retest but as long as the blue support holds, I am fine with it. Good chance next stop is $26 area.
the chart seems to suggest China A share ETF is on the verge of major trend change (bias toward going higher). Given the mess in Europe and valuation in the US market, emerging market in general is appealing. Stay tuned.
I don't usually read much from daily patterns. This one is just for fun. It is going to break the lower bound of the sliding channel any time soon. But before that, it can temporarily go up a little bit.
It has a reverse head and shoulders, broke out, retested the neckline and now broke out again. RSI and MACD look great. I think next target is $26.8.
Might be targeting $26.8 level (and even that is still far from .236 Fib, which is $29.50 level) RSI breaking out and MACD is close to be positive.
Looks like it wants to turn. Worth paying attention in the next several weeks.
The setup from the right shoulder was perfect, and $ASHR did not disappoint cutting right down through the neckline. My 22 target is near.
This chart is demonstrating a classic bearish head and shoulders pattern long term. The neckline is pointing down, which is even more bearish. Target $22! Look out below.
A-Shares hanging by a thread now with a huge head and shoulders breakdown forming. Neckline downward sloping which is even more bearish. Not sure if the Chinese government is going to be able to save it this time. A 50% haircut to the mid-low 20's is possible.
Quietly, ASHR entered bull market since August low, and chance is good it will break out again be the close this week. Next price target $39 - $40 region. The risk is it does not break out and begin to go down.
The top IVR (52-week ToS) non-individual underlyings (i.e., ETF's) aren't all that great again this week, but you'll notice some familiar names popping up yet again, primarily due to jumpiness in the precious metals and oil markets: XBI (SPDR S&P Biotech ETF): IVR 52/IV 50 (Generally, Poor Options Liquidity) EWZ: (See Linked-To Post Below) XOP (SPDR S&P Oil & Gas...
Though a down day, it managed to make a higher high on a weekly basis. With previous higher low, it qualified as a trend changer. MACD is still weak but I expect it to play catchup. It also needs to clear the 10 week moving average. So for now I call it a "green shoot", bullish but not certain yet.
It had a lower high last month, and a close above the red resistance will mark a higher high, which signals potential trend change. MACD needs to catch up, and also want to see a close above 10 week average.
ASHR 32.46 Bearish – 3.5-month falling wedge remains capping ASHR formed a 3.5-month falling wedge (from the 55.19 peak, June 8, 2015), continuing to cap the recent rise to 35.29 (September 21, 2015 high). With the indicators still weak, there is scope for a retest of 28.84 (August 24, 2105 low). Below there would expose the key 27.00/26.65/26.23 support zone...
If you want to play the Chinese markets, you're largely relegated to FXI or ASHR. So which do you play from an options standpoint? With IVR in FXI at 92 and at a comparable 89 in ASHR, is it a rock, paper, scissors type of decision? I would say "no," and for a very simple reason: liquidity. While FXI isn't great from a liquidity standpoint, ASHR is, quite...
Still uncertain the direction, but RSI and MACD are in much better shape. If it can break out next week, next leg up is possible.