HSTI recently broke out of its peak resistance at 10,100 and extended up to 11,000. There is a nice healthy 8.5% pullback to two strong support areas - peak resistance turned to support - Lower range band of 2 months upward trend Pullback reasons include - sector rotation to metals due to increased consumption - sector rotation to Finance & Real Estate
Happy CNY 2021. Hong Kong Hang Seng Index closes higher by 1.1% for the 2nd day after CNY holidays. Hang Seng Tech Index also rose by 2.34%. HKEX:9618 rose by 6.4%, HKEX:6618 +5.8%, HKEX:3690 +2.78%. Fast-growing new economy continues to drive HSI.
Just keep Long Positions ! It would be a good chance to long if correction happen.
Just spent 1.5 day to reach the top of the ascending channel. Keep long positions and think about covered call to hedge it. Make 0.1-0.2 delta should be a right way.
50% of the cash long today around daylow which is near to middle of the ascending channel. Could long the second 50% at the bottom of the channel while reach.
My opinion. With recent big falling on tech stocks, I am looking to build more long positions.