First thing first, I am not buying , yet. I will watch it over the next few weeks to see if the price rebounds strongly from the support at 344 -350 level. There is a possibility that it may continue to head south to revisit the next support at 289.80.
Remember the F&B business in China faces a lot of competition with new restaurants and menu being served up or...
Interesting move initiated, the price is back on the demand zone which took the liquidity on the left side and initiated a huge break of structure and bullish movement, we can see that the price retraced in a structured way reacted on the zone with an internal break of structure upside which is for me the sign of a bullish trend initiation targeting 416.
The Hang Seng Index, with everything measured in Hong Kong Dollars rather than US Dollars, offers a distinct perspective within our analysis portfolio, focusing on the Hang Seng Index Futures contract. Starting with a weekly chart overview, we've identified that the initial cycle likely concluded in 2008, followed by a flat correction. Notably, the correction for...
Build Your Dreams (BYD): HKEX:285
After closely examining the Chinese electric vehicle manufacturer BYD, we've concluded that there is a very appealing and interesting opportunity to start building positions. We are currently in an overarching Wave III. Wave II concluded at the low of 13.20 HKD, and the all-time high is currently at 63.10 HKD. We are now...
Xiaomi shares recently attempted to break above the HK$16.98 resistance level. This level should still be breached as part of the turquoise wave 3. However, we think it is 30% likely that the price is more likely to form a deeper beige wave alt. II.
For Tencent Holdings, we currently believe we are in an overarching Wave III, which should be created with a 5-wave structure upwards. This should naturally extend far beyond the Wave I level at the all-time high of 715 HKD. We anticipate a rise to at least 1338 HKD for this overarching Wave III. Wave II concluded at 188.6 HKD. Zooming in, we see that we are...
For another interesting Chinese stock, we're looking at the mobile phone manufacturer Xiaomi, trading on the Hong Kong Exchange. Hence, we're dealing with the Hong Kong Dollar, not the US Dollar. Overarchingly, we are also in a Wave III here. Wave II concluded its correction with a double bottom at HK$8.28. This chart adheres well to the Elliott Wave structure,...
Putting emotions aside about how unhappy, disappointed and frustrated with the China stocks, some people I spoke to are thinking to scoop more once the price reaches the support level.
Just because it has rebounded on previous support level does not necessarily means it will do so in the future.
It is possible, plausible and probable that it might falls through...
Drawing the 2 bearish trend lines, we can see that this stock is soon to break out soon.
2 Options - await pullback and go long
OR
wait for it to break the main bearish trend line around 15 dollars before going LONG. This approach is more conservative and less risk taking but the downside is buying at slightly higher price.
Please DYODD
We can see a similar pattern for Alibaba and Tencent shares in the daily chart. Both are in a consolidation stage and the resistance is hampering the price action to rally further.
I am watching closely this level and any breakup with a bullish signal could be a potential trend reversal to the bullish side.
Patience
On the morning of March 12, news spread that Li Ning would be privatized. According to relevant media reports, Li Ning, the founder of Li Ning Company, was contacting investment institutions to acquire the company's shares for privatization. It is reported that Li Ning has invited TPG, PAG (Pacific Alliance Investment Group), Hillhouse, etc. to join the...
We consider the recent setback merely as part of the substructure of the magenta wave (1). This wave should lead to a sustained rise above the resistance line at HK$280.60. However, our 30% probable alternative scenario should also be noted. This would attest to the corrective nature of the upward movement that has been underway since February. Although the price...
W Formation has formed recently on Tencent Holdings.
And where the price broke above the Neckline is also where the price has broken it's downtrend for the first time since January 2023.
This deems a very positive sign for buying and demand to push the price up.
Nature of the trade analysis is High Probability Too.
Price>20MA and Price>200MA
Target...
Hang Seng (HSI1!) is trading within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The dominant pattern is a Channel Down and as long as the 1D MA200 holds as a Resistance, we will continue selling every Lower High.
The structure of the pattern is similar to the 2021/22 Channel Down. Once the 1D MA50 breaks again, we will have a confirmed sell...
Using this as my last post for today, I am hoping the Chinese New Year starting tomorrow will usher in more revenue for KFC and Pizza Hut in China. Looking at the 4H chart, we can see a ultra bearish candle on 7 Feb with a gap up.
Thus I am awaiting for the price to come back down to 292 support level to close the gap before deciding to go LONG.
I also take...
