To continue the topic of investing in China, I am using CHAU chart, which is the CSI300 2 x ETF chart. CSI300 chart is available else where but not on TV. Current holdings. 1. CHAU, the 2x ETF of Shanghai traded CSI300, similar to SPY500 2. NIO, Chinese rival of Tesla. I like its CEO humility and customer service focused business approach. 3. TIGR, 150% ...
With COVID-19 seemingly under control in China is it time to buy? It looks like CHAU is channeling pretty well with a short term target of 22.17.
Looking bullish here, broke above that wedge with some more buy volume.
Keep watching this one for next week.
Recent buy volume, looks to be getting ready for a larger move, up imo.
Fell below that bottom trend, not a good look for longs.
The simple reason is the rising trend hasn't been ended yet.