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I have bought this bank quite some time ago for its stable dividends and being a government bank, it offers me a stable dividend payout. The capital appreciation was definitely a surprise as you can see from chart that it went sideway for quite a while...........
For those who wants to take a quick trade, I would say it is over...
Waiting for 3.98 price level where we can see a support in Oct 2020. It could also falls further to the Sept low of 3.44 to 3.74 level. No hurry, since bank stocks are not likely going to shoot up like the cryptocurrency.
The dividends are good and the fact that it is State owned means the Central Banks will not see to it going belly up. So, the last point is...
A few rebounds on the support zone of 4.85 and 5.00 then breakout of this support zone on July 5, 2021 and we have stagnated until now. The RSI is in divergence from the market and is above the neutral zone.
Daily frame
The intersection of the uptrend and downtrend, with the availability of a sell signal on the volume indicator, in addition to the formation of the butterfly pattern on the chart. All these indicators give us a prediction that the market will correct upwards , which gives us an opportunity to buy and get profits.
Daily frame
The intersection of the uptrend and downtrend, with the availability of a sell signal on the volume indicator, in addition to the formation of the butterfly pattern on the chart. All these indicators give us a prediction that the market will correct upwards , which gives us an opportunity to buy and get profits.
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Humbled, we would like to thanks for your support who has already liked, commented and followed us.
Your support, strengthens us, to help in analyzing the market.
ICBC - HKEX - There is potential to bullish
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
It is not a strong recommendation, but we must damage the region’s strong penetration Rebounds with a very large red plug We sell immediately Then we got a very strong signal For sale at 90% without a panic
