I have been trading more HK stocks recently. They are all showing the same chart pattern which I look out for. Same as all my others charts posted regardless of exchange. Once it hits all time high, I am interested.
After a flood of southbound cash into the HK bourse yesterday, HKEX:2196 Fosun Pharma shot up to resistance level at 38.95 within four trading days. Probably a little too much excitement for this particular stock. This was not expected on my part, but very welcome. I took profit as soon as I saw that this resistance level held. Based on these charts, I would wait...
HKEX:868 Xinyi Glass has formed a flag pattern in the past two weeks. This sits within an uptrending regression channel. It should rebound off $19.26, and then, if it breaks out of the short-term down channel (marked by the two red lines), and hits resistance level 20.64, I expect it to rocket up to~$23.50. Timeframe ~21 trading days.
CICC broke all time high. Even on such a muted trading half day, stock attracted enough attention to make an All Time High. Price will move higher. The sky is the limit.
HKEX:686 BJ Energy Intl has been uptrending since July, albeit spasmodically. It has become a bit more consistent since early November. It just bounced off support (false break) level of 26. If I was a gambling man, this will proceed up to $30, retrace to around $28.5 and then bounce again to $33. Timeframe ~10 days RSI just hit 51. Good entry. Low volumes...
HKEX:2196 Fosun Pharma has been in a steady uptrend since last March, it has pulled back in recent weeks in a tight bear channel to sneak below its 50 day EMA. However it has broken through this bearish pattern. Overall it has remained within its longer term uptrend channel. I am guessing it will bounce up to just above a $40 tp. Patience required though - may...
Li Ning HKEX:2331 has been dependable in recent months. Sitting within a tight weekly regression trend channel, it has just pulled back and hit 20 EMA which it seems to more or less respect. It is also moving with the industry-wide uptrend. My guess is that it will bounce 10% within 30 days. Target exit at 55.50.
After the december 2 oversold, XIAOMI price showed a narrow path of upward trend, and by the Fib speed resistance fan can be found that the stock price fluctuations are all within the upper and lower 0.25 line rise. There is also a good chance that XIAOMI price will show an upward trend in the future, with the turning point likely to be when the share price steps...
HKEX:1929 Broke out after a 2-months or so consolidation and looking to see further upside to HKD11.23 thereabouts.
Consolidation or large correction? What's your opinion? HKEX:3800
HKEX:1830 is forming nicely to test 3.73. Next target is 4.1 with a support at 3.26
ENTRY: 35.2 TP: 33.3-34.5 SL: 36.1 - ADX>20 today (30 Oct 2020) - RSI<30 today (30 Oct 2020) - MAs are aligned - Good volume today on drop
ENTRY: 280 TP: 303 SL: 275 - ADX<20 today (28 Oct 2020) - RSI<65 today (28 Oct 2020) - Would like ADX>25 and RSI>70 though - MAs are aligned - Decent volume breakup from C&H - Risker trade based on personnel view
Hello everyone! Traders, we do not like to write more. The prediction of the PING AN' price you can find on a chart! Regards, Team Traders "Powerful Traders"
PING AN - detailing complex Correction with HT (3-3-3-3-3) wave structure. Regards, Team Traders "PowerfulTraders" flat
Every 3-5 years or so, there is a short correction in the market and it ensures the market to grow sustainably. Although this is a complete different scenario compared to 2008's situation, the downslope pattern is quite similar. A downtrend is a downtrend. I believe that the bottom has not yet came by looking into the downtrend timeframe. However, it likely...