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.
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...
Honk Kong 33 Short Order Entry: 28,267.8 TP & RR: 27,881.1 (1.5) Stop Loss: 28,525.9 REASONS FOR THE TRADE I hate to open a position against the trend, but I believe that the price will respect the upper trendline and reverse to test the lower trendline. The Stop Loss is set just above major resistance, so if we do get hit it's very likely that the price...
Hello Traders, Hong Kong is going through some troubling times right now. To summarize very briefly, Hong Kong has been its own entity for some time with its own legal systems, boarders and rights but due to legal agreements China wants to take back Hong Kong as part of China. This is a crude summary of events. This is causing friction between Hong Kong and...
We had a very good trade on HKG33 last month, and now it's giving us another opportunity for a good risk to reward trade. After hitting our previous target (22600) it made a double bottom pattern and broke back above the previous resistance (23500 ish) and it seems like its holding above it and regained it as support. this setup provides a 4R trade to take.
Go Long if break the pink resistance line and the green line (20MA). Technical indicators are bullish.
Hang Seng has been devastated by the recent negative geopolitical climate, reaching in August the 24,900 1W Support. The rebound that followed on 1D was rejected near the Lower High trend line (dashed) and 1D MA200 (orange line) thus keeping 1W bearish (RSI = 43.695, MACD = -309.550, Highs/Lows = -317.3100). We have had a Death Cross formation on that bottom and...