China is back online baby, fresh communist stimulus coming right up!
Technical analysis We tested resistance approximately at the $50 limit; and broke it on Thursday, January 2nd. Now this resistance has become out short-term support. A bull flag is forming today, as a continuation of the bull pattern. Top 10 Portfolio holdings Name - Symbol - % of ETF assets Meituan Dianping - 03690 - 10.43% Alibaba - BABA...
Loving this set up for getting long. Based after half cup break out, which now appears to be setting up for another leg up. Lines on chart, and just my thoughts...
The bottom might be in for now. Sure looking like bounce time coming. China internet should get hot short term. I had thought a retest of prior breakout but that not looking in the cards.
Looking at support and RSI this time. RSI indicates oversold conditions, but prices may likely touch the support line again. It is safer to wait until prices touch the displayed support line, but the current price is also a well-tested support. Disclosure: I am long CWEB.
I am personally bullish on Chinese internet/tech companies longer term Just scoping out some zones where I could potentially add money into this investment I don't think we would actually get to the third buy zone, but I would most likely be loading the boat if we did Holdings: portfolios.morningstar.com
Watch for a breakout in the China Internet stocks. $KWEB looking to break out of this rectangle pattern on heavy volume.