I believe, for sometime KWEB should take a pause for a brief time:
1) The current price is right at the resistance zone on the weekly chart (31.xy to 32.nm) - We can see many times in the past the price has turned back from these levels.
2) 50 ema on weekly chart is right at the resistance, working as double resistance for the price move.
3) Dragon fly doji at the resistance means zone of strong supply.
4) The rally has been a swift and strong, now it is a few weeks old for next round of healthy run it should take a pause.
Bull:
1) RSI is healthy.
2) A support is at $28-29ish
3) Standard Deviation is higher than its previous peak and heading higher
4) Once the pause is over, next pause should be at around 38.50ish
Conclusion: Overall view on KWEB is positive. In a short term the KWEB should take a pause, possibly fall a bit, before starting to run again. If the drama around possibility of US ban on Chinese stocks ends and the Zero COVID policy is lifted, then 2023 will be the year of Chinese Stocks.
PS: I am new to analysis. So, do not forget to do your own research, make your own decision, you are responsible for your trades. I welcome inputs to improve my analysis. So, please share your knowledge and guide me.
1) The current price is right at the resistance zone on the weekly chart (31.xy to 32.nm) - We can see many times in the past the price has turned back from these levels.
2) 50 ema on weekly chart is right at the resistance, working as double resistance for the price move.
3) Dragon fly doji at the resistance means zone of strong supply.
4) The rally has been a swift and strong, now it is a few weeks old for next round of healthy run it should take a pause.
Bull:
1) RSI is healthy.
2) A support is at $28-29ish
3) Standard Deviation is higher than its previous peak and heading higher
4) Once the pause is over, next pause should be at around 38.50ish
Conclusion: Overall view on KWEB is positive. In a short term the KWEB should take a pause, possibly fall a bit, before starting to run again. If the drama around possibility of US ban on Chinese stocks ends and the Zero COVID policy is lifted, then 2023 will be the year of Chinese Stocks.
PS: I am new to analysis. So, do not forget to do your own research, make your own decision, you are responsible for your trades. I welcome inputs to improve my analysis. So, please share your knowledge and guide me.
Note
Looks like the Chinese Stocks are taking off. I can say the pause seems to be over.
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