HSI has negatively reacted to China's 20th Party Congress, but is now very likely to experience a strong support on 2W charts. As you can see, we have reached a very strong support zone, from which HSI has rebounded everytime. I am personally going long on NASDAQ:BILI as it's analysis is also showing a very strong likelihood for short/mid-term rebound since...
HSI is at the most oversold in decades, touching the bottom of its monthly uptrend channel. Valuations are at its rock-bottom extremes with very poor sentiments, on the back of the Congress Party closure without good news. Reward-to-risk is high, especially if reversion to the mean happens.
Just a monthly range Maybe we have bottom, idk R:R isn't perfect but 2 isn't bad
HKEX:HSI1! Intraday pivot: 545/505 as long as these held, bulls are in control #marketprofile #volumeprofile #orderflow #chartanalysis #chartporn ***** I use this platform as a way to organize my thoughts and plan for my personal trading for the sessions to come. Do not misconstrue this newsletter as actionable trading advice. I am simply sharing my thoughts as...
With China opening up and realizing a zero Covid policy doesn't work we should begin to see the country get itself back on track. In addition, China will be buying millions of barrels from Russia, soon. I've attached my levels on the Hang Seng Index. Keep an eye on those ADRs BABA, JD, NIIO, etc.
No good news at all as the HSI drove off the cliff... The weekly chart shows that two weeks ago, the support was broken, and all technical indicators are bearish. The Fibonacci projections put the downside target at 14,600. A very substantial downside burn. Only green shoot observed is a possible bullish divergence forming... The daily chart shows the...
Despite the numerous stimulus by the Chinese government, HSI's previous rally seemed to be short lived. This is in fact, align with my expectations. Reason because: 1. Continuous lock-downs/fears of lockdowns. No one will know when will the city go into lockdown, putting all production etc on hold. 2. Investors' confidence. Despite the credit stimulus, it seems...
Whilst the overall trend and sentiment point lower, yesterday’s false break of support could provide a potential bounce for the Hang Seng index. Despite its downtrend on the daily chart, the HSI produced a strong bullish engulfing candle on the 25th of August which showed strong demand around 19,200 – a level which has held since May (and a similar candle...
For personal interests, analyses on the HSI will be initiated... The weekly chart closed on a bearish note, at a 5 year low. Close to a suuport at 19,200, if it breaks down -250 points, there would be more downside to the last low of March 2022, at 18,235. As with many of the analyses done this weekend, a lot of indications that the last low will be...
HSI touching overbought on RSI, probably pulls back tonight. If you're still holding along position in PDD, I suggest dumping or at least locking in some profit. I'm already out.
Are there even Signs of Reversal ? - Candlesticks below MA200 , Far from MA200 - Candlesticks moving below ichimoku clouds - Downtrend Line B met expectation of 1:1 w.r.t Line A, within a shorter time with higher momentum Take a look at the price Volume traded for the past 1600 days (to the range where last candlesticks were at this area). Total volume at this...
PBoC cut its 1 year and 5 year LPR again in an attempt to spur its credit markets. As expected we saw a huge jump in HSI this morning. However, I think this rally might not be long lasting because of investors' sentiments. Based on the technicals, it seems to be in a downward channel as well. My take is that unless it breaks out 19860, it will probably reverse back down.
Expecting at least a one day bounce off this minor support ADR traders must be looking at the same thing because PDD went green despite HSI going down last night.
MFI hit overbought last night and several companies announced they are going to delist from the US after their market closed. There is a gap in futures, but China doesn't always fill those. Snagged some PDD puts on the gap fill, and added a few on this pump. Will wait until EOD to decide if to bail or add. Despite the delisting news, Chinese ADRs are melting...
Overall, $HSI remains cautious until heavy-weighted names earnings release. Therefore, I expect $HSI will continue tight range bound between Monday and Wednesday. Of note, I want to see how the price reacts around the 2H belt as it entered the belt. Price scenario: Open/bid above 20078-096, build up time/volume, would test these 20230s area and see if the...
China's tanking again, lol. I guess I should have paid attention to the easy play. Was so hung up on CPI that I forgot all about China even though PDD is near the top of my watch list. Oh well. Can't chase it now. I know there's a lot of bears following me, a lot of time if I feel bearish and the US market is melting up I short a foreign ETF or in this case...
China is probably the hardest market to predict because their govt exerts their will on the market, whether it be up or down. I shorted PDD again today because I think it goes down and retests the bottom next week. We'll see.
Indicators are oversold, but chart pattern says one more down day. Taking the safe approach and just leaving profits in PDD puts, cashing out the original investment to lock in profits.