GXC is not done... not yet. Another 8-10% downside perhaps.
Weekly GXC chart looks bearish with technicals and candlestick ending with a sandwich like stack with a lower low and lower close. The downside support target appears to be quite a way off, about 10% down from current. Daily chart (right) is at a previously marked Buy Zone, but MACD is pushing down more. Price now has a gap resistance to close. Let's see if it...
The GXC Weekly chart is about ready to break out and take off... just did a best case projection. This is on the back that the Evergrande saga endgame is delayed, which I think would likely be so... into 2022. Watch the next two weeks or so, needs to break out of trend line/channel and clear the gap resistance area.
Although I had expectations for China (funds) previously, I still have good expectations. BUT something fundamentally has been changing, and it is still pushing downwards in consolidation. IF at all, the Evergrande debacle appears to be a spark in the trigger. Looks like Lehman 2.0 for thsoe who still remember... Looks more bearish than bullish to me IMHO......
Of late, Chinese stocks had been bashed and a downside target was set as a Buy Zone. The thing is, the GXC nicely bounced twice by huge gaps (see the orange rectangle), and appears to be clocking two lower lows. Of interest is the current lower low to be... said so as a gap up marubozu is typically bullish, but was transformed into a bearish harami. This happened...
Recently, the China market had dived on regulatory action over the past couple of weeks. It hit a low point way out of range, and then bounced back technically. And the past week saw a range bound attempt to break out. This attempt failed to extend the rally higher out of the range, but instead fell down to the range support. In the process, it left a gap support ...
Great set up here. some green volume spikes. looking for 5 then 7. $GXC
inverse activity after intersecting orange man says china bad short it
Is China index oversold? I do not think so from both short term fundamental reason as well as trend analysis. I expect the price to fall through the inner bullish trend line (dotted) and heads much further south. To help support my chart, I use Relative Strength Indicator (RSI) to determine if it is oversold. You can see that it still has some room to move...
#BRICs Equity Market Performance since March 08
#BRICs Equity Market Performance since March 08
break out or break down? $YINN $YANG $BILI $BIDU $BABA
The current on-going trade war has pushed the Chinese market down. The GXC (China ETF), is still in a down-trend and may find support at 82. If it can hold 82, then it's a good long term buy at this level.
China could be the tell whether EEM is bottoming or not.
Fib. ret on chart shows a reversal area on .786, feel like price action is bearish for rest of year and down to $80-$82 area. Will be selling or doing put options