Ck Asset Holdings upside rally is still holding on after a strong break above the ascending triangle back in 29th December 2021. Despite a potential head and shoulder formation, we believe that prices will find support at 49.45-49.80, which is 2.43% change from the neckline resistance. Hence, we do believe that there could be a bear trap.
1113 first time above 200 ema in a while and is now testing resistance.
Stop-loss: slightly below 200 ema
Take profit: next resistance level around 49.40
CK Asset Holding Ltd (1113 - HK) is in ABC zigzag wave pattern in 60 min time frame. It made B flat correction, which is about to end soon. But wait for five wave impulse in smaller time frame to confirm the start of C wave up. In weekly time frame it made huge WXY complex correction from the date of inception. Also it should start out-performing HSI to go up for C wave.
What happen when the world's most expensive property start to get cheaper ?
(cheaper is relative since a 10% fall is still out of reach for many people)
Is housing affordability one of the main catalysts that causes the unending chaos and protests in Hong Kong? Let the debate between the fundamentalists and value investors continue....
Let's focus on one of...
