Long

What happens when a multi year RSI downtrend is broken?

Updated

The answer is usually an explosive move to the upside. The monthly RSI is close to being in oversold territory, so if someone wants to pick up some Chinese tech stocks, I think now is probably a good time to do so despite all the regulatory risks.

Good luck with your trades

Note

Obviously this might take a while to play out. When the covid lockdown in China and supply chain issues get resolved, this will probably be the catalyst for this rally.

Note

Buy and hold Chinese tech stocks, you'll be happy you did in 5 years. This setup is too great to ignore.

Note

Already up 20% on Alibaba

cicatrace

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.