Meituan's price is still trading at the lower end of the magenta Target Zone between HK$96.90 and HK$64. Our primary assumption remains that the stock is already working on the wave 1 rises in turquoise - and that it should soon leave the resistance at HK$103.50 well behind it. However, we must continue to weight the option with a 35% probability that the stock...
President Xi Jinping’s New Year address put paid to hopes of much larger stimulus. In his address, President Xi pointed to the consolidation and enhancement of the economic recovery and no signs of a boost from policy coming. Furthermore, China’s economic growth for 2023 came out at 5.2%, above the central government’s 5% forecast, which it boasted it was able to...
Per the council of foreign relations, these are the following current global conflicts. I've included a brief description of each conflict. It's important to understand these if you're planning or already are investing in defense stocks. Per TA, I've labeled bearish price targets, bullish price targets, relevant trends. It looks overvalued from analysis on ITA,...
Revenue: $156.2 billion Net Income: $14.7 billion Market Cap: $114.8 billion 1-Year Trailing Total Return: ~7.5% Exchange: OTC Markets According to Investopedia, it is the 3rd biggest Chinese company and in the top 5 insurance companies in the world Ping An Insurance provides insurance, financial services, and banking. It is one of the top 50 companies...
Technicals RSI is overextending, however, a little cool down would reset the indicators and trigger buy signals across the board. Bears should be looking for an entry, but not entering yet. Plan out a trade. Bulls should be locking in profits and looking to buy the dip. There are two super short term trends that are taking the price up. They are both rejection...
Dr. Copper has recently demonstrated signs of strength, largely attributed to China's stimulus measures. This price surge is occurring within a pattern of consistently higher lows since the lows of 2023. It's important to highlight that this upward momentum previously broke through the downtrend line stemming from the highs of 2023. Following its breakthrough of...
Tesla experienced a notable setback, with its stock falling as much as 4.2% during Friday's trading session. This decline marks the 11th drop in 12 sessions. The dip follows Hertz Global Holdings Inc.'s announcement of plans to sell off a third of its U.S. electric-vehicle fleet, contributing to the downward pressure on Tesla's shares. Adding to the challenges,...
The HSI has risen sharply since Monday. Nevertheless, we continue to believe that the index is still working on a magenta-colored downward structure and is therefore not yet finished with its correction. Only after this five-part wave, and thus the turquoise-colored wave 3, has come to an end should things pick up a good bit - even if there is still further...
Note how the two large pattern #HVF's kept you dollar long as the main directional trade from 2011 to 2022 But things may be turning around and this trade may, potentially be reversing. Often when commentators have given up on the idea of a multi polar world, end of dollar dominance , as price keep going the opposite direction. Is when the trade actually...
Many Chinese stocks are quietly breaking out. News headlines from other aspects of investing and world politics are drowning out these bullish setups. Breakouts observed in some leading names.
Hello Traders, welcome to today's analysis of Alibaba. -------- Explanation of my video analysis: Starting in 2016 Alibaba created a pretty obvious higher timeframe bullish reversal which was followed by a crazy bullrun on Alibaba stock. In 2021 Alibaba broke below a major bullish trendline and dropped more than -70%. If we see another bullish reversal at the...
The development follows another milestone for Chinese auto exports after they hit more than 3 million vehicles in 2022 and over 2 million in 2021, the report said. The latest record was driven by a surge in exports of new energy vehicles, which climbed 77.6% in 2023 to more than 1.2 million units, according to the report. Overall auto sales in China climbed 12%...
AMEX:FXI , China Large Cap ETF, shows a Double Bottom pattern. Wait for a breakout of the parallel downtrend or a stop below the double bottom. CHINA IS PLANNING A STOCK MARKET RESCUE PACKAGE BACKED BY $278 BILLION DOLLARS.
It was nearly three years ago when the China stock market notched a short-term peak. Recall how the world's second-largest economy was initially seen as a growth engine coming out of the worst of the pandemic. An authoritative regime in China, led by President Xi Jinping, crippled the economy's expansion trajectory through harsh ongoing lockdowns and by clamping...
ECONOMICS:RUGRES The latest data from the International Monetary Fund’s (IMF) International Financial Statistics (IFS) report shows that Russia’s central bank increased its gold reserves in August, restoring reserves back to previous levels from earlier this year. “IMF IFS data shows gold reserves at the Central Bank of Russia rose by 3 tonnes in August,”...
The China tech sector is looking was oversold and due for a sizeable rebound soon. Alibaba (BABA), among others, seems near to complete its corrective B wave and start a new upleg. Only a break below last year's low would invalidate this view.
The recent announcement of a stimulus package by the Chinese government to boost the property sector is expected to have a positive impact on the Australian stock market, particularly the Aus200 index. The stimulus package includes measures such as lower down payments for home purchases and tax breaks for developers. These measures are expected to increase demand...
Needs to breakout of the range at 10 and hold 9.50 again for push to 14 and perhaps 21. Volume profile looks constructive for continuation. Real action will be above 10. Disclosure: I am long from 8.0 on a half position. Will wait for breakout above 10 for full position