Chinese banks exposure
Read latest news here www.scmp.com/busines...s-valuation-soe-bets
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 as it has gone up more than 20% and is unlikely to soar any higher, maybe another 1-5% which is risky in my opinion to enter now.
On the weekly chart, it displays a nice descending wedge pattern with the apex at 4.00 being the lowest price. Since it is hard to catch the bottom, buying at 4.56 is still a good deal for me .
Let's hope the earnings prospects will improve this year and bring this bank back to its glorious days of 7-8 dollars once more.
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 as it has gone up more than 20% and is unlikely to soar any higher, maybe another 1-5% which is risky in my opinion to enter now.
On the weekly chart, it displays a nice descending wedge pattern with the apex at 4.00 being the lowest price. Since it is hard to catch the bottom, buying at 4.56 is still a good deal for me .
Let's hope the earnings prospects will improve this year and bring this bank back to its glorious days of 7-8 dollars once more.
Comment:
bought some yesterday and will add more if it goes down
Comment:
Praise God, a pretty bullish candle close , expecting more upside