#China #Stocks Should Be Shorted: Specific Level to Watch $FXI #trading Put these support resistance indicator lines on your chart! Indicators show decent places to enter or exit. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long. For commodities and Forex, when your trading...
China currently has a lot problems for sure. But stock market is a discounting and forward looking mechanism. Technically ASHR is in its early bull run.
$ASHR 2x week highs ... ready to break out again
It needs to go above previous high which is $26.14 before anything else. Visually the moving average rainbow is tightening, which indicates the start of a big move is coming.
ASHR (China CSI 300 index) has been steadily rising since 2016 low. MACD is now positive, price is above 10 month MA. Need it to take out Nov. 2016 interim high to confirm the trend change. IF that ever happens, I would expect a price spike.
September will be critical as 10/40 week cross may occur (or fail). Might be a buy if price > $26.
ASHR quietly surpassed April high ($24.86 vs. $25.03) and I think it is ready to challenge the 40 week MA and the red resistance line ($26 level). The bullish case can be confirmed once it is able to close above the red resistance (if that happens, $37 is possible).
So far so good. Might be working on a retest but as long as the blue support holds, I am fine with it. Good chance next stop is $26 area.
the chart seems to suggest China A share ETF is on the verge of major trend change (bias toward going higher). Given the mess in Europe and valuation in the US market, emerging market in general is appealing. Stay tuned.
It has a reverse head and shoulders, broke out, retested the neckline and now broke out again. RSI and MACD look great. I think next target is $26.8.
Might be targeting $26.8 level (and even that is still far from .236 Fib, which is $29.50 level) RSI breaking out and MACD is close to be positive.
Looks like it wants to turn. Worth paying attention in the next several weeks.
The setup from the right shoulder was perfect, and $ASHR did not disappoint cutting right down through the neckline. My 22 target is near.
This chart is demonstrating a classic bearish head and shoulders pattern long term. The neckline is pointing down, which is even more bearish. Target $22! Look out below.
Drawn in by its epic climb and lack of market access, a lot of tracking indexes were made to take advantage of China's equity market rise. The subsequent tumble hasn't played out proportionately though. For example the DB Harvest CSI 300 ETF collapsed 7.6 percent while the index only dropped 1.8%
Despite the noise and mocking on the Chinese stock Collapse, there is no sign the Chinese A Share is stopping. In fact, it has a huge spike on the A Share. The Bullish Channel is still intact. There weren't any correction on the Chinese A Share for the last 9 months. In addition, soon, the Chinese market will break the historic high of Shanghai CSI 5000. ...