Unless you are hiding in the cave (which is a good thing to do from time to time), you must have read about the news in China.The much anticipated fanfare about the post Covid did not take place much to the disappointment of both hedge funds and retail investors. In short, the Chinese are simply not spending as much as we thought. Government are doing what they...
Hong Kong market has lost about 45% from its peak on 16 Feb 2021 (more than 2.5 years ago) while China has lost about 55% as well. Looking at the dwindling red candles over the past few weeks, it is possible the selling pressures is almost over.
For the patient investors, you can wait for the breakout to happen first before deciding to go long. This could be a...
I revisited the wave count of FXI yesterday and came out with an alternate 5-wave count compared with my previous analysis . The trend still remains bearish and there is no modifications in the target price.
In this alternate count, we have a simple wave i, wave ii and wave iii as depicted in the graph and an expanded triangle as wave iv that consumes...
I came across an article recently about bullish on FXI. I had my doubts since I am not optimistic on the chinese economy as well as on the strength of RMB.
So I decided to take a closer look at this etf index fund that tracks the movement of large cap equities in China.
As depicted in my chart, we are now in the 5th wave of an impulsive wave that begins in Feb...
After a 61% correction and a 59% rebound, now Chinese big techs are getting out of consolidation after 22 weeks and breaking above the resistance line at the same time with a +35% above-average weekly volume!
August could be a very fantastic month for the Chinese big cap!
Could this be the bottom for the China market ? Let's take a look at this ETF.
It has recorded a nice triple bottom recently after the Central Government made the announcement (read here )
Further evidence - They asked listed companies to buy back shares. Alibaba did that !
Chinese Factories are still open and production running despite spike in Covid-19...
Key things I see
1) The AD in an ascending triangle, I see this on multiple time frames
2) Bullish ABCDE set up
3) The Results of the ABCDE set up appears to be a Bullish Cypher
4) also have a potential desc. triangle breakout
5) Uptrend going back to April 24th 2023
6) Stop Loss at the beginning of the uptrend
7) FXI needs to close above the Gap down
8) BABA...
iShares China Large-Cap ETF forms bullish "Megaphone Bottom" chart pattern
"Megaphone Bottom" chart pattern formed on iShares China Large-Cap ETF (FXI:NYSE). This bullish signal indicates that the stock price may rise from the close of $29.91 to the range of $32.10 - $32.60. The pattern formed over 26 days which is roughly the period of time in which the target...
China stocks have outperformed over the last few months. A major ETF is running into resistance which likely means we could see money rotate out of China.
Profit taking is likely especially if the DXY catches a technical bounce.
Cycles now point to a decline of 5.6 to 6.3 weeks .Fib we are nearing a .382 and almost a =c within a alt of an ABC . ALSO WE ARE NEARING A MATCH TO THE FIRST LEG UP 2009
Price is just above the long entry level.
Possible stop where you see support.
No recommendation.
iShares Trust - iShares China Large-Cap ETF is an exchange traded fund launched by BlackRock, Inc. It is managed by BlackRock Fund Advisors. The fund invests in public equity markets of China. It invests in stocks of companies operating across diversified sectors....
Monthly Demand Zone (19-24)
Weekly RSI below 30, and divergence
Entry 24.6
Stop 19
Target 33, 41
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
