Own a piece of Forbes' Global 2000 companies
Make a guess first before clicking this link ? Which country do you think scores the 1st position ?
I randomly asked several people and their answers are all the same - USA.
Yes, most would not believe that a China bank can beat even our 3rd contender; JP Morgan in USA. Of the top 10 companies in this list, half are from China. WOW!!!
Let's take a look at the chart.
The Day chart tells us after hitting a high at 6.00 in early Jan this year, it has been heading south thus far. And at current price, it seems selling is not quite done yet although there is some support at 4.70.
The bottom is at 3.72 in Feb 2016 which I do not think it is likely to reach that level.
Here's a better news - China is opening up to allow its big banks to penetrate the investment banking area. This will give offer some healthy competition in Hong Kong, US and Singapore where the main players are congregated.
Put this stock in your watch list. Not a buy now for me.
I randomly asked several people and their answers are all the same - USA.
Yes, most would not believe that a China bank can beat even our 3rd contender; JP Morgan in USA. Of the top 10 companies in this list, half are from China. WOW!!!
Let's take a look at the chart.
The Day chart tells us after hitting a high at 6.00 in early Jan this year, it has been heading south thus far. And at current price, it seems selling is not quite done yet although there is some support at 4.70.
The bottom is at 3.72 in Feb 2016 which I do not think it is likely to reach that level.
Here's a better news - China is opening up to allow its big banks to penetrate the investment banking area. This will give offer some healthy competition in Hong Kong, US and Singapore where the main players are congregated.
Put this stock in your watch list. Not a buy now for me.
Comment:
still premature to say it would not break out based on the last 3 strong green candles. Let's see the next 2 days how it performs.
Comment:
did u see the last 3 days candles ? All red and one doji pattern. But it has closed above the bearish trend line. So, to me it is safe to take a small bite to test out. If you feel it is still too risky, then wait for a few more candles confirmation.
Comment:
disappointed? last 4 days show bearish candles consecutively.......
Comment:
If you study the price action pattern closely, you will notice the reversal is a inverse Head (30 Jun 20 candle) and shoulder pattern (left shoulder on 19 Mar 20 and right shoulder on 20 Jul 20). Thus, we can expect the price to continue charging higher.
Those who believe in the China growth story might want to partake in this banking stock.
Those who believe in the China growth story might want to partake in this banking stock.
Comment:
sadly, the stock keeping heading south.....
Look at the strong spike up. If you have not bought it, relax. Let the price action break out of the trend line first.