Top pane - Chinas CQQQ vs QQQ ,as you can see, we have entered a "potential" period of outperformance...This is more of an early hint I would say and not yet conclusive/confirmed.
Middle pane- individual chart CQQQ
Bottom pane- individual chart QQQ
I would like to also see CQQQ break above it's long term DTL on its individual chart but we do see the...
Looking at the CQQQ on monthly. Getting close to the bottom of the channel and the MACD is looking like it could start rounding up on that trend line. To add some counter argument, it looks like a giant elliott wave. We could see it break the channel and see a correction.
I'm bearish on US growth tech because of the extreme valuations
I'm somewhat bullish on China, in terms of its value versus the US market
China debt:gdp is lower than the US and China is taking steps to tighten its credit
Whilst this has resulted in a market correction
In the longterm i think it's a better approach
I'd look to dca into this, especially if we...
At 4H, they broke through the 100MA and buried themselves in the additional resistance level = 74.
A local rollback is possible, but after that the growth will continue. Or it will reach 100MA on 1D and the first target and then retest the level 74, unloading local indicators to continue to grow on the rest of the targets. Having also reached the second...
Baak on March *th I posted this chart warning of a break of trendline wave 3
Since then it has drifted lower while building a sweet bear flag,
Simple risk-reward setup. Short on a break stop of it pops back into the bear flag,
No break no trade.
Remember this is my diary you all get to peek in on. :) that means my analysis is on
going to track my progress....
China Tech (CQQQ) has been in a massive bull channel for 8 years. Every 25% drop or more has been a buying opportunity.
Will it be the case this time? Higher rates in the US with a stronger $ are typically bad for Emerging markets. Is China still
an emerging economy is debatable, but my view is higher rates in US attracts $s leaving other economies fighting for
I'm long (and upside down). That said I think the 200SMA at 80 is a bottom worst case, and a new run up over 118 is being pointed at by the daily stoch, rsi, and .786 Fib line
Best of luck. Playing with stop losses to prevent further losses in case the daily loses to the weekly.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
CQQQ is a at a critical support level. Most of the news coming from China on the deadly virus has had an impact on investor sentiment and the ETF has seen a dip from our earlier identified level of potential resistance to a new level of expected support
We can see when we apply the Gann fan, the price has moved beautifully in the range and has tested the...
In continuation to my previous chart on CQQQ, price has continued to move up in the channel and broken the previous resistance of 52.30, which will now act as immediate near-term support levels for the ETF
Meanwhile, price continues to make higher highs and higher lows, indicating current trend is upwards
Chart is self-explanatory
Important Support and resistance...