After placing the low of the blue wave (ii) at the lower border of the orange target zone between $10.10 and $11.32, China Life Insurance's share price initially rose to the upper border of the target zone last week, gaining over 12%. However, the price has not yet been able to sustainably break out of the zone, causing it to bounce and fall again. As a result,...
Overall view is bearish, price is holding below our descending trend line and facing bearish pressure from our resistance. A break below our first support at 17.20 could trigger a further drop.
