We can see a similar pattern for Alibaba and Tencent shares in the daily chart. Both are in a consolidation stage and the resistance is hampering the price action to rally further. I am watching closely this level and any breakup with a bullish signal could be a potential trend reversal to the bullish side. Patience
First thing first, I am not buying , yet. I will watch it over the next few weeks to see if the price rebounds strongly from the support at 344 -350 level. There is a possibility that it may continue to head south to revisit the next support at 289.80. Remember the F&B business in China faces a lot of competition with new restaurants and menu being served up or...
I am not so concerned about its property exposure since all big local banks in China have loans with the property developers. It is negligible at 1 over % compared to its insurance, tech, etc businesses. As a corporate, while its dividend of 8.8% may seems attractive, there will be a capital withholding tax of 17% compared to 8% net from LINK REITS. Of course...
Price came back for successful test of support. Uptrend intact. Buy.
Tencent short based on: 1. Completion of 5 waves structure. 2. Fibonacci Extension level from wave 1. 3. RSI divergence. 4. 5-min corrective wave up.
Trading involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results. Always conduct your own analysis and consider your risk tolerance before entering any trade.😉😉
══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the...
══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the...
If buying individual tech company proves to be a hassle, costly and too much research work, going into a basket of them like this ETF may be the solution. We are now in a resistance phase so wait patiently for it to break out with a bullish sign and then you can add some to your portfolio. Avoid the mentality of always wanting to catch the bottom like buying...
Hello, We identified a strong Buy Signal on China Construction Bank stock in the weekly chart for a target of 5.33 within a few weeks, Ibrouri
HKEX:700 after years of down trend it is showing some sign of trend bottoming. Mainly supported by company share-buyback in the past few weeks. While selling pressure from the market is not strong to pull the price lower after each selling. This is indicating that the selling pressure is weak. Which supports the kick start of a bullish trend. In short term,...
A few positive things did happen for Alibaba. The removal of Daniel Zhang and being replaced by Joseph Tsai. So far, I like what Jospeh has done for the company, making it leaner and removing excess fats that are stalling its growth. They have also started to declare dividends and shares purchase buyback, boosting investors confidence. We have seen the share...
Interesting move initiated, the price is back on the demand zone which took the liquidity on the left side and initiated a huge break of structure and bullish movement, we can see that the price retraced in a structured way reacted on the zone with an internal break of structure upside which is for me the sign of a bullish trend initiation targeting 416.
The Hang Seng Index, with everything measured in Hong Kong Dollars rather than US Dollars, offers a distinct perspective within our analysis portfolio, focusing on the Hang Seng Index Futures contract. Starting with a weekly chart overview, we've identified that the initial cycle likely concluded in 2008, followed by a flat correction. Notably, the correction for...
Build Your Dreams (BYD): HKEX:285 After closely examining the Chinese electric vehicle manufacturer BYD, we've concluded that there is a very appealing and interesting opportunity to start building positions. We are currently in an overarching Wave III. Wave II concluded at the low of 13.20 HKD, and the all-time high is currently at 63.10 HKD. We are now...
Xiaomi shares recently attempted to break above the HK$16.98 resistance level. This level should still be breached as part of the turquoise wave 3. However, we think it is 30% likely that the price is more likely to form a deeper beige wave alt. II.
For Tencent Holdings, we currently believe we are in an overarching Wave III, which should be created with a 5-wave structure upwards. This should naturally extend far beyond the Wave I level at the all-time high of 715 HKD. We anticipate a rise to at least 1338 HKD for this overarching Wave III. Wave II concluded at 188.6 HKD. Zooming in, we see that we are...
For another interesting Chinese stock, we're looking at the mobile phone manufacturer Xiaomi, trading on the Hong Kong Exchange. Hence, we're dealing with the Hong Kong Dollar, not the US Dollar. Overarchingly, we are also in a Wave III here. Wave II concluded its correction with a double bottom at HK$8.28. This chart adheres well to the Elliott Wave structure,...