Want to buy a property in China ?

In a big country like China, it is incorrect to say property market is up or down in any single year. Due to its large population, when highly dense cities like Beijing , Shanghai and Guangzhou (Tier 1 cities) are suffering from loss of sales, rental, etc, other smaller cities , especially those in Tier 3 -4 can be booming.

Now, we may have an opportunity to long a great Property developer in China; China Vanke.
After hitting a high of 34.75 in early Jan this year, it has retreated by 8.5% to current price level of 32. It may bounce from here or revisit the next support at 30.30 before heading up.

We will be watching this counter closely.

Comment:

wow, a false breakdown back into the bearish trend line. It rebounded today !

Comment:

Let's wait a while more. Most sectors are down in China due to the coronavirus. This may takes a while and price may either go lower or moves sideway, awaiting for some good news.

Comment:

worth a 2nd look this week as it revisit the support level at 27. This support is fairly strong. Let's see how it performs this week

Comment:

it has broke out of the bearish trend line and from the past week performance, it looks strong with 7 straight days of gain.

Comment:

www.scmp.com/busines...ally-precarious-peak

we can see that the price is ranging between 24 as support and 27 level as resistance. Let's see if it breaks up or down first before taking any position.

Comment:

22-23 is the support zone now.

those who keen and investing for long term, can take a long position now.

Comment:

Strong resistance at 30 price level , you see price rejected in March, July, November month. Will this time be different ? Let's see