Recording this trade:
I was quite conflicted while taking this long trade as I was wondering why did Tencent drop when peers like Ping An and Xiaomi were all rallying.
There was good news on the trade war side and I did read reports of challenging times for Tencent. I have even considered going short...
I don't have fancy charts but the recent candlestick chart is clear that Facebook had completed its double bottom reversal to turn bullish. This is confirmed when Facebook went above $171 today in a continuation of the bullish pattern. Facebook also announced superb results despite the negative privacy news about it. Finally, it would appear that the...
Xiaomi appears to have hit the bottom and appears to be on the recovery after a morning star session. The DOM also looks good where the buyers are overpowering the sellers. Good for a long market entry for Xiaomi:
- Entry: 10.22
- SL: 9.66
- TP: 11.61
Not sure what is the fundamentals behind it?
- New products?
- Thawing of the trade war between...