5G Benefactor, SEHK 788?
Updated
China's 5-year plan towards 5G and Clean Energy may stimulate both sectors over the short to medium term. China Tower has been a large benefactor towards the construction of 5G towers. Therefore, on a fundamental level, China's current price of $1.29 seems like an attractive level to enter.
On a technical perspective, while the price action is showing that 788 is currently on a downtrend, it seems to have found support and bounced off the $1.20 level. For me to want a piece of SEHK788, I would ideally want the MACD crossover and stochastics to turn bullish. I will also want the price action to break above the blue line of 'lower lows'.
Views are my own only, and should be meant for discussion and educational purposes only. Please make your own investment decisions!
On a technical perspective, while the price action is showing that 788 is currently on a downtrend, it seems to have found support and bounced off the $1.20 level. For me to want a piece of SEHK788, I would ideally want the MACD crossover and stochastics to turn bullish. I will also want the price action to break above the blue line of 'lower lows'.
Views are my own only, and should be meant for discussion and educational purposes only. Please make your own investment decisions!
Note
Though a little early, I have taken a small position at $1.29 to get some skin in the game. I will stop out if the price action breaks down and gets to the $1.20 level.Note
I have added to a full position to 788 with plans to swing it for 1-2 weeks.Note
Got stopped out at $1.20 awhile ago, was a losing trade and should not have bought it when it was clearly in a downtrend. Much more room for improvement!
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