A stock that's moved 90% up from lows which is a 1.414 Fibonacci retracement on the monthly and a nice gapup on the weekly shows me this is a bullish recovery reversal. Although understandable that 19.46 will act as temporary resistance, the more this stays above 18, I will see a persistence for this to go as high as 23-27 in the next year or so :)
-If 25,032 holds cover short.
-If 25,032 high probability that it will go back to 20EMA at 24,904
-Uptrend still intact, after covering short can look accumulate longs at 20EMA level.
It is for sure that it is in runaway uptrend,
But we will need to be extra careful as usual as the move up of this week and late last week may be a stop hunt "spring" move.
Trade Safe,
s0nic
HSI is in Bear mode IMO, as US is about to come hard on China exports. (Remember Stocks are leading indicators)
I will be standing with BEAR for now.
Every Pull Up can be considered as opportunity to Shorts or add shorts.
Trade Safe,
S0nic
HSI failed to drop further and back to the channel (red parallel line),
It is likely to swing Upper lip of 23300 again.
I am Standing with BULL for now..
Of coz, result of US elections matter...
Trade Safe,
s0nic
