04 June 2022
Chinese Tech Shares have been beaten down badly since the kick start of the tech regulation.
However, last week, couple of Chinese tech shares reported good earnings and with China border reopening may bring good news effect on it.
RSI showing bullish divergence.
The Hang Seng Tech Index appears to be carving out a Rectangle chart pattern on the 4-hour setting.
The ceiling seems to be at 4883 with the floor at 4300.
Breaking above could open the door to extending the mid-March bounce, but that would place the focus on a long-term falling trendline from February 2021.
The latter may reorient the index lower. On the other...
Bearish Head and Shoulders Top pattern Completed on 4HR time frame at the end of an upwards move, signalling a reversal.
The Negative Neckline was then Broken @1.24540.
Pullback formed towards the neckline, this is a .618 retracement of Swing High to Swing Low of Neckline Breaking move, the golden mean.
Equal Measured Move is Lining up with 1.68 Extension of...
On the 4 hour chart, $HST seems to have created a double bottom (Yellow Line), while showing a bullish divergence (Green Lines).
TA and fundamentals seem to be aligning, as Horizon State has released news today on a new big project in New Zealand ( more info found on their Reddit or Twitter ). Several more clients are hopefully to be announced in the following weeks.
Looking at HST on the daily.
* VPVR looking full
* OBV healthy
* Bullish divergence in histogram
* Willy stupidly over sold and in divergence
I will be playing this with a very tight stop loss due to the volatility in BTC
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HST is approaching our first resistance at 17.41 (horizontal pullback resistance, 23.6% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 14.69 (horizontal swing low support, 61.8% fiboancci extension, 76.4% fibonacci retracement).
RSI (89) is also seeing a bearish exit where we might see a...
Interesting chart within the parameters I've been looking for at #Binance, I would mention the volume increase at what it looks like to be a Bottom / Floor. This is what I would like to see and I think it highly probable to see a price move like this...