JICPT|HSI range breakout with target of 25700 (AB=CD)
Hang Seng Index dropped by more than 8% in the past 2 weeks amid tightened regulations on Chinese Tech stocks. BABA, Tencent, Meituan all fell quite a long to recent lows.
From the chart, I can clearly spot that the range move has been terminated with big bearish candle.
Technically, how much more could the index go down further?
By applying the measure move method, there might be another 5% room to go down. 25700-25900 is a confluence zone with flip & gap & ab=cd. The probability of rebound from this zone is very high.
Those days could be really tough, If you have exposure to Chinese tech stocks, like BABA and BIDU that listed in both HK or U.S. We could know how the stocks move in the U.S. trading session half day in advance, based on the movement in HK market, unless something important happens after HK market is closed.
Give me a like if you're with my idea.
From the chart, I can clearly spot that the range move has been terminated with big bearish candle.
Technically, how much more could the index go down further?
By applying the measure move method, there might be another 5% room to go down. 25700-25900 is a confluence zone with flip & gap & ab=cd. The probability of rebound from this zone is very high.
Those days could be really tough, If you have exposure to Chinese tech stocks, like BABA and BIDU that listed in both HK or U.S. We could know how the stocks move in the U.S. trading session half day in advance, based on the movement in HK market, unless something important happens after HK market is closed.
Give me a like if you're with my idea.
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