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It is fairly difficult to predict if the price of 60.55 on 7 Nov 2022 was the bottom for GXC ETF. If option 1 happens weeks/months later, then on hindsight we can said so. However, there lies another option (which imo is more likely) and that is more sideway movements first.
Can it come down to the support level at...
What is it going to be like for 2nd half of 2023 ?
I am getting more enquiries from my followers and friends about investing in China. Mostly, the vibes are negative - from a slump housing challenge to the ongoing never ending US- China relationships to the unpredictable CCP clamping on its own economy.
Looking at the weekly chart, let's be objective and see...
Based on the chart pattern formation, it appears that there is likely chance of inverse head & shoulder formation on mid-long time frame.
This is not financial advise, DYOR pls. Give a thumbs up if you like the idea.
Looking at the weekly chart, I think the downside from the current price is 20 dollars , ie if it falls to 60 dollars. However, with the Central Government promising to support the economy more with its policies, I believe the stock market will recover soon....
Therefore, I will add some each month for the long term. Please note that there is still possibilities...
Been such a fan, waiting for so long, but I think the technical outlook for China Equities is not looking too good.
Three fails
Breakdown of the TDST puts it in Bearish primary trend mode.
MACD is bearish
VolDiv shows some accumulation
Some downside, highly probable.
Target at 66/67
then see how...
for those who love China equites!
This is a list of my personal portfolio selected ETFs with the simplest visuals, using MACD as the only technical indicator and the trend lines with breaks or breakdowns to give us a new series of PSV charts. ;-)
Note that these are using Weekly charts, and a break out is qualified when there is a trendline break out accompanied by a MACD crossover (within a week...
It has been a really long time since GXC was updated. Previously, an imminent breakout was expected, but it failed, in an epic fashion, to find itself the bottom support of the triangle.
Has it bottomed out and ready for a bounce?
Early game, but just want to put in the observation that it might bounce for the next attempt to breakout of the triangle. The weeks...
For some time, GXC had been flagged as potential for upside... massive upside. Within a triangle, it had already gained over 10% since it was flagged.
This week, it appears to be breaking out... out of the triangle that it has been coiling in.
Obvious that the weekly and daily chart technical indicators are bullish, or crossing over bullishly. Candlesticks are...
Previously, GXC appeared to be coiling to launch a break out... it appears to have done so, but at a higher level .
Weekly technicals appear better suited for a impending breakout, Daily technicals are not yet ready and baking...
Still in the radar, but overall sense is that China (and Chinese equities) will take off. We are still in early days, but imminent....
Previously been highlighting China, particularly as Chian equites have been misunderstood, maligned, and assumed to have downside due to their tough COVID-19 strategies.
As expected, GXC launched with a gap up. However, this gap up did not translate further into a gap and run, but instead stalled. In view of the overall technical picture, it appears may have...
As previously described, yes, the GXC ETF appears to have found its footing to launch.
The weekly chart has clocked a higher low, and this week's candlestick is a nice bullish one with a long-ish trailing tail at the bottom, which is a bullish indication.
The daily chart shows the week closing at a gap resistance, and above the MA band. Technical indicators are...
The China ETF, GXC, has in recent weeks been beaten down. This is great part dur to concerns about their ideology about a Zero COVID strategy, where it comes with great economic costs. The Western media (mostly) has had a field day whacking China on their "primitive" idea, saying that it is impossible, it is unreasonable, it is irrational, etc.
I beg to...
Looking at the weekly chart, we can see GXC ETF is still on a bullish trend , despite the correction of over 30% since its peak in Feb this year , recording a high of 155 price level.
The political situation in China is indeed worrying some of the institutional buyers, some calling the big boys like Tencents a SELL which was not what the case just a year or so...
After an intra-week V shape recovery, with a strong weekly candle, the GXC is now range bound (as seen in the daily chart) attempting to breakout of the range. The Daily technicals are bullish and supportive, as the weekly technicals are somewhat coiling.
We might have to wait a bit more on this one... Needs to break clean of 92.50.
So, the double tailed candles on the weekly chart only resulted on a week of downside, but the second week proved resilient.
The daily chart shows the spike down blowout and the immediate recovery. This indicates very strong support at about 98-100. The new interim support at 102 is holding too.
Now, I expected the lack of liquidity and sentiment to push lower,...
As expected previously, GXC (China equities) #epicfail, GXC went down and continues to do so for yet another week probably. You can see that the SHCOMP (Shanghai Exchange) pushed further with people closing positions over the rather long holiday.
Waiting for the Buy Zone soon...
On 6 Jan, I posted:
"GXC is not done... not yet.
Another 8-10% downside perhaps."
Thereafter, GXC surprised me with a run up and a higher low, breaking above the daily 55EMA twice. Only to fail the 55EMA on Friday, and following through today (Monday) with a deep gap down -3% at mid-day.
This is very bearish, and is likely to have a lwoer low with a spike down...
Just doing some research and then realized that the GXC (China ETF) has a 10 year historical cycle pattern. In this pattern, it appears to be at a bottoming out period.
Just sharing an observation from the technical cycle aspects. Other qualifiers suggest a similar indication (not discussed herein).
What you also can observe is that there is a peak about 2/3...
