INVESCO EXCHANGE TRADED FD TR II CHINA TECHNOLOGY ETF

NYSE ARCA & MKT

CQQQ

The ETF AMEX:CQQQ presents a great opportunity for a bullish move to around $55.80. As it broke out above a bullish flag, and there is a nice ascending trendline, we get a good Risk/Reward ratio going into the next price cluster. We can put the stop loss below the previous resistance and the ascending trend-line.

Not much hope in any Chinese tech stock until their market recovers

Story: The Chinese technology stock market has suffered substantially this year for a number of reasons - to put some perspective to this, XLY0 is down 19% YTD, while CQQQ is down in excess of 25%. Be it the trade war with the US, the feared slow-down of the Chinese economy or other political / geopolitical regional tensions the sector has been beaten down to...

One to watch for China (Baidu, Sina, Sohu, Netease, Shanda, Sunpower...). ABC correction possible under 8EMA.