CHINA GOING FOR IT! Until Christmas? #BlowoffTop and Recession!Breakout and retest for RSI, China breakingout after 6 long years.
This will have implications on every market, they were waiting for the FED to pull the trigger and now they can go. Game on!
#JD is going, Commoditties will go for it, except #oil maybe.
But more important, #Bitcoin will have the #BLOWOFFTOP I was looking for.
That´s the News GOODS...
The BAD News is, Recession or Crisis after it. December or March 25´as late.
China
Bullish IQ , online video streaming in chinaIQ has been drowned and punished for a light q2 june earning report.
seasonally/historically q2 has been the lightest quarter for past 3 years.
the best quarters are toward the winter holidays.
Current valuation is very attractive low PE, low price to sales.
Balance sheet has some debt, so its not excessively cheap in the balance sheet. its all about the earnings growth potential.
This year forward earnings is expected to be .24 cents, which is fantastic for a once 2.00 stock recently. 5 year potential eps is over 1.00, so for me this is a keep for long time.
Hard to say what a growing online streamer could be worth when bullishness kicks in and future growth starts to be anticipated. 20 pe? 30 pe? one can never predict this. All we control is buying value when we get a lot of weight for money paid.
RISKs- continued deflation in china, more competition. Currency devaluation and geopolitics still a major cloud. Yuan is rising now, but if real estate remains a burden, currency devaluation and increased stimulus might hurt the currency and total net returns to foreign investors.
Not advice for you, but I like the stock for me. Stands out on my ranking sheets.
Copper Gets Double Boost from China Stimulus & Fed Jumbo CutThe Fed’s outsized pivot last week and guidance for multiple cuts ahead helped copper’s recovery, as it increases chances of a soft landing for the worlds largest economy. Furthermore, lower rates are expected to bring mortgages down and help the real estate market.
Copper got a second boost this week, from a massive monetary stimulus package from China - the world’s top consumer. Authorities have been enhancing their efforts to prop the sputtering economy recently and the new measures constitute a step up. Crucially, these include lower mortgage rates on existing home loans and a reduction in rates for second homes, in further support for the ailing property sector.
These developments lead copper towards a third straight profitable week and the best month since April, with bulls now getting the opportunity to tackle 4.700. Along with the return of AI euphoria that drives the rebound of the chip industry (where copper is a critical component), there are prospects for further gains.
On the other hand, the Fed’s frontloading creates risk for inflation persistence and less cuts in the future, while China’s actions are in the right direction, but bolder measures are needed on the fiscal front. Furthermore, the move looks stretched technically so a pullback towards the EMA200 (black line) would not be unreasonable. However, the downside appears well protected and sustained weakness below the EMA200 looks hard.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”) (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website:
Stratos Markets Limited clients please see: www.fxcm.com
Stratos Europe Ltd clients please see: www.fxcm.com
Stratos Trading Pty. Limited clients please see: www.fxcm.com
Stratos Global LLC clients please see: www.fxcm.com
Past Performance is not an indicator of future results.
CHINA50 to continue in the upward move?CHN50 - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 12250 will confirm the bullish momentum.
The measured move target is 12350.
We look to Buy at 12100 (stop at 12000)
Our profit targets will be 12300 and 12350
Resistance: 12250 / 12300 / 12350
Support: 12150 / 12100 / 12000
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
$FXI / $SPX | You Should Be Tracking ThisWe've been full bull China since early spring of this year and this chart here represents our macro thesis. We've posted about AMEX:FXI before and it's potential swing move of 75-100%...
This chart here is AMEX:FXI vs SP:SPX on macro HTF. We believe this chart represents a macro bottom of china relative US equities.
Last night, China announced a 50 bps rate cut with plans for additional rates cuts in the near future, as well as lowering existing mortgage rates. We've been expecting some govt influence and we finally got it.
HUGE move printing and we think it's just the beginning. We've been big on NYSE:BABA and OTC:PNGAY all year and they've been two of the big winners today.
Currently printing a macro 3M RSI bottom and looking to confirm it after q4 candle print.
This is a move that will likely take the rest of the decade to fully play out.
Copper Supported by the Fed’s Jumbo CutAfter May’s record peak, copper prices slumped as demand optimism went away due to US and China economic fears, EV adoption slowdown and AI euphoria giving way to skepticism. However, copper staged a rebound, as China has been stepping up its effort to prop the economy, while AI optimism returned recently lifting tech and chip-making sectors. Furthermore US recession fears were quelled after the Fed slashed rates by a jumbo 0.5% last week and pointed to aggressive easing ahead, in what could be a boon for the property sectors where copper is used heavily.
These forces have helped the non-ferrous metal regain control above the EMA200, providing the launch pad for reclaiming the 4.500 handle. This would bring the summer high in the spotlight (4.700), although this level has a higher degree of difficulty.
On the other hand, the Fed’s frontloading creates risk of renewed inflation pressures that could lead to a shallower easing path, while China economic problems persist and the real estate sector remains in distress. Copper starts the current week on the back foot, unable to capitalize on its recent bounce. This sustains risk of sub-EMA200 moves that would pause the momentum, but the downside contains many buffers and prolonged weakness does not look easy, technically nor fundamentally.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”) (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website:
Stratos Markets Limited clients please see: www.fxcm.com
Stratos Europe Ltd clients please see: www.fxcm.com
Stratos Trading Pty. Limited clients please see: www.fxcm.com
Stratos Global LLC clients please see: www.fxcm.com
Past Performance is not an indicator of future results.
NIO (NIO): 55% Increase but Bearish Trends Still LoomA while back, we analyzed NIO, and recently, we’ve seen a considerable 55% increase in the stock price. However, despite this rise, nothing truly convinces us that this bearish trend has ended or that a sustainable upward movement is underway.
The critical factor here is that none of the key levels that need to be breached for a trend reversal have been crossed. Specifically, we’re looking at the current Wave ((iv)) level around $6.04. If this level isn’t breached, it’s likely that we could see further declines, possibly dipping into the $2.99 range—or even lower, potentially as far as $1. It may seem dramatic, but considering NIO has already dropped up to 62% since January, repeating such a decline isn’t out of the question.
In conclusion, the market remains quite weak, and we’re still cautious about the possibility of more significant setbacks. Always remember, it’s okay to stay on the sidelines and not invest in everything that catches your eye. 🤝
Why would it hold? BAIDU Big LevelChina stocks have been beaten up in recent years as the US equities leave them in their wake.
From hearing NVDA is larger than the entire china equity market, to China will always be in a bear market…are we finally into enough of support to see a material rally?
BIDU is hitting a monthly support . This also happens as the US markets could be running into a distribution phase.
Will the US Dollar staying below $102 help this emerging market company?
NIO Options Ahead of EarningsIf you haven`t sold the NIO`s speculative bubble:
bubble
Now analyzing the options chain and the chart patterns of NIO prior to the earnings report this week,
I would consider purchasing the 4usd strike price Calls with
an expiration date of 2024-9-6,
for a premium of approximately $0.24.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Is IBM's retreat from China a strategic gamble or a harbinger ofIBM's recent strategic decision to shutter its research and development center in China has sent ripples through the global tech industry. This move, coupled with the exodus of other American tech giants, has ignited a heated debate about the forces shaping the future of business in the world's second-largest economy.
Is IBM's retreat a calculated response to changing market dynamics, or is it a canary in the coal mine, signaling a broader shift in the geopolitical landscape? As we delve deeper into the intricacies of this decision, a complex picture emerges, one that challenges our understanding of the delicate interplay between business, politics, and economics.
IBM's withdrawal from China is not merely a corporate decision but a reflection of the evolving tensions between the world's two superpowers. The escalating trade wars, regulatory hurdles, and geopolitical uncertainties have created a challenging environment for foreign businesses, forcing them to reassess their strategies.
However, IBM's decision is also a strategic one, driven by factors such as cost optimization and a desire to focus on core competencies. By relocating its operations to regions with lower labor costs, IBM can enhance its profitability and allocate resources more efficiently.
As we navigate the complexities of this situation, it's imperative to recognize that IBM's retreat is not an isolated incident. It is a symptom of a broader trend, a reflection of the challenges faced by foreign companies operating in China. The economic slowdown, increased nationalism, and regulatory uncertainty have created a perfect storm that is forcing businesses to rethink their China strategies.
The future of business in China remains uncertain. IBM's decision is a stark reminder of the delicate balance between economic opportunities and geopolitical risks. As the world continues to evolve, it is essential for businesses to remain agile, adaptable, and prepared to navigate the challenges and seize the opportunities that lie ahead.
$CNIRYY (August/2024)- China's annual inflation rate edged up to 0.6% in August 2024 from 0.5% in July,
falling short of market forecasts of 0.7%.
Still, it was the highest print since February,
marking the 7th straight month of consumer inflation amid supply issues due to flaming heat and pouring rains.
Food prices rose for the first time since June 2023, with their rate of increase the fastest in 19 months (2.8% vs flat reading in July) as fresh vegetables rebounded sharply.
Meanwhile, non-food prices increased 0.2% yoy, much slower than the prior 0.7%, on softer rises in cost of clothing (1.4% vs 1.5%), housing (flat reading vs 0.1%), health (1.3% vs 1.4%), and education (1.3% vs 1.7%).
At the same time, transport costs fell at a steeper rate (-2.7% vs -0.6%), with lower oil prices offsetting higher cost of utilities.
Core consumer prices, deducting food and energy costs, increased 0.3% yoy, the least since March 2021.
Monthly, the CPI rose 0.4%, the second month of gain but lower than consensus of 0.5%.
source: National Bureau of Statistics of China
US30 | Trade ideaKey Points:
Tesla: Shares fell 1.6% after a report that the company plans to produce a six-seat Model Y in China by late 2025.
Boeing: Dropped 7.3% following a downgrade from Wells Fargo to "underweight" from "equal weight."
Nvidia: Slumped nearly 10%, wiping out a record $279 billion in market value, marking the largest single-day decline for a U.S. company.
U.S. Manufacturing: Edged up in August from an eight-month low but remained subdued, according to ISM data.
Market Performance:
S&P 500 fell 2.1%
Nasdaq dropped 3.3%
Dow declined 1.5%
This marks the biggest daily percentage decline for these indexes since early August.
Nine out of 11 S&P 500 sectors fell, with technology, energy, communication services, and materials leading the decline.
Market Sentiment: Weakened amid concerns about the Federal Reserve’s interest rate decisions, with September being historically one of the worst months for stock market performance.
Volatility: The CBOE Volatility Index (VIX) jumped 33.2% to 20.72, the highest close since early August.
Trading Volume: Totaled 12.14 billion shares across U.S. exchanges, above the 20-day moving average of nearly 11 billion.
Labor Market: Traders are awaiting labor market reports ahead of the August non-farm payrolls data.
Fed Meeting: Scheduled for Sept. 17-18, with a 63% chance of a 25-basis point rate cut and a 37% chance of a 50-basis point cut, according to the CME FedWatch Tool.
Market Breadth: On the NYSE, declining issues outnumbered advancers by 2.52-to-1, while on the Nasdaq, decliners outnumbered advancers by 3.5-to-1.
Can Japan Weather the Semiconductor Tempest?In the intricate landscape of global semiconductor trade, Japan's recent decision to restrict exports of chipmaking equipment to China has ignited a tempest of geopolitical tensions. The move, while intended to limit China's technological advancements, risks triggering severe economic retaliation from Beijing. As a leading player in the semiconductor industry, Tokyo Electron finds itself caught in the crossfire, grappling with the potential consequences of this escalating dispute.
The semiconductor industry, a cornerstone of modern technology, is intricately intertwined with global economies. Disruptions to the supply of advanced chipmaking equipment could have far-reaching consequences, affecting industries from automotive manufacturing to artificial intelligence. The potential for economic retaliation from China, a major market for Japanese exports, further complicates the situation.
Japan's decision to impose export controls is driven by a strategic imperative to limit China's technological capabilities. However, this strategy carries significant risks. China has responded with a strong warning, threatening severe economic retaliation. The broader geopolitical context further complicates the situation, as the United States and its allies have been working to limit China's technological advancements.
The question remains: Can Japan successfully navigate this delicate balancing act, maintaining its economic interests while adhering to its strategic objectives? The answer to this enigma will likely shape the future of the semiconductor industry and the global technological landscape for years to come.
Hongkong & China Gas: Do not let up!We stick to our primary assumption that the price should make another attempt to overcome the resistance at HK$6.77 and succeed this time. Finally, as part of the magenta wave (4), we expect the price to rise into our same colored Zone (between HK$8.44 and HK$9.19). Investors could open short positions within this range, with stops placed about 1% above the upper edge. The last leg of the beige wave II should then trigger larger sell-offs. However, we consider it 44% likely that the price is already on the home stretch of this correction. This scenario will be triggered by a fall below our grayed-out Zone. It calls for a fall into the southern Zone between HK$4.73 and HK$3.58 in turquoise.
PDD is a strong buy after misunderstood earningsPDD (Temu) shares have fallen over 30% after recent earnings implied they have missed their targets by a massive margin, and a cautious comment indicating there might be macro issues going ahead.
However, only revenue has missed targets - by only 3% - effectively meeting the markets sky-high expectations.
Looking at the actual releases, EPS is 2.97 in Q2 2024, which actually beat the expectation. The company is still experiencing massive growth - even while, as outlined in the meeting notes around supply chain streamlining, they have simply had some short term costs in this regard.
A 30% drop in share price is an extreme overreaction and I expect a quick and violent retrace once the market has cleared its head.
"Buy when there is blood on the streets" - especially without reason.
Disclaimer: This idea is not intended as investment advice and should not be interpreted as an offer to sell or a recommendation to purchase any asset. Any decisions made based on the information presented in this idea are the sole responsibility of the individual. All investment decisions should be made independently, taking into account your financial situation and objectives.
CN50 dips to continue attract buyers?CHN50 - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
Risk/Reward would be poor to call a buy from current levels.
A move through 11850 will confirm the bullish momentum.
The measured move target is 12000.
We look to Buy at 11750 (stop at 11670)
Our profit targets will be 11950 and 12000
Resistance: 11850 / 11950 / 12000
Support: 11750 / 11700 / 11650
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
PDD Holdings: A Strategic Pivot or a Tempestuous Trial?As PDD Holdings, the e-commerce titan behind Pinduoduo and Temu, confronts a landscape fraught with intensifying competition, economic challenges, and evolving consumer preferences, the question of its future trajectory becomes increasingly pressing. Can the company successfully navigate these turbulent waters, or will it succumb to the tempestuous forces at play?
PDD Holdings, once a beacon of e-commerce growth in China, finds itself at a critical juncture. The company's recent second-quarter earnings report, marked by a revenue shortfall and cautious outlook, has sent shockwaves through the market. PDD's strategic pivot, prioritizing long-term value over short-term profitability, while commendable, may face significant challenges in the near term.
As PDD grapples with domestic pressures, the company's international expansion strategy, spearheaded by Temu, presents both opportunities and risks. The potential for global growth is undeniable, but the competitive landscape is fiercely contested, with established players like Amazon and Shein vying for market share.
The question of whether PDD can successfully navigate these challenges is a complex one. On the one hand, the company possesses a strong financial foundation, with a robust cash position that can provide a buffer during difficult times. Additionally, PDD's commitment to user acquisition beyond China could be a critical driver of future growth.
On the other hand, the intensifying competition within the e-commerce sector, coupled with the economic uncertainties in China, pose significant headwinds. PDD's ability to adapt and innovate in such a rapidly evolving environment will be crucial to its long-term success.
Investors are closely watching PDD's every move, with opinions on the company's future sharply divided. Some view the current low valuation as an attractive entry point, particularly considering Temu's potential for international expansion. Others, however, remain cautious, citing the ongoing challenges in China, management's tempered outlook, and the possibility of declining profitability.
Ultimately, the fate of PDD Holdings hinges on its ability to successfully execute its strategic vision, adapt to changing market conditions, and deliver sustainable value to its investors. The road ahead is likely to be fraught with challenges, but with careful navigation and strategic decision-making, PDD may emerge as a resilient and thriving e-commerce powerhouse.
China's about to fly No more comments needed - weekly double bottomed, broke out of downtrend and retested breakout - I expect FXI > 35 by end of the year
Disclaimer: This idea is not intended as investment advice and should not be interpreted as an offer to sell or a recommendation to purchase any asset. Any decisions made based on the information presented in this idea are the sole responsibility of the individual. All investment decisions should be made independently, taking into account your financial situation and objectives.
Tencent Holdings LtdIs Tencent Stock a Buy Now?
Tencent posted its third quarter earnings report on Nov. 16. The Chinese tech giant's revenue fell 2% year over year to 140.1 billion yuan ($19.8 billion), which represented its second consecutive quarter of declining revenue since its IPO in 2004. Its net profit rose 1% to 39.9 billion yuan ($5.6 billion). On an adjusted basis, which excludes its investments and other one-time items, its net profit grew 2% to 32.3 billion yuan ($4.5 billion). Those growth rates seem anemic, but Tencent's stock had already been cut in half over the past two years amid concerns about China's tightening regulations, slowing economic growth, and COVID19 lockdowns. So is it the right time to take the contrarian view and buy Tencent as a turnaround play? Let's review its core businesses and valuations to decide.
Tencent generated 31% of its third quarter revenue from its video game business. Domestic games, which include its blockbuster game Honor of Kings, accounted for 73% of that total. The remaining 27% came from overseas hits like League of Legends, Valorant, and PUBG Mobile.Its domestic gaming revenue fell 7% year over year, representing its third consecutive quarter of shrinking revenue, as it grappled with tighter playtime restrictions for minors in China over the past year. Those restrictions also coincided with a temporary suspension on new video game approvals in China, which started last July and ended this April.Its international gaming revenue rose 3% year over year, accelerating from its 1% decline in the second quarter, as new games like Tower of Fantasy and Goddess of Victory: Nikke attracted new players. Unfortunately, its overseas growth still couldn't offset its declining domestic revenue.
As a result, Tencent's total VAS (value-added service) revenue which includes its gaming divisions, social media platforms, and streaming media subscriptions -- declined by 3% in the third quarter but still accounted for more than half of its top line. This core business might gradually stabilize as Tencent expands its international gaming business, but it will likely remain under intense pressure as long as the Chinese government continues to scrutinize the gaming industry.
200$ was one of the biggest support and great opportunity to buying the dip. 300-320$ is a big resistance level for tencent and if bulls win that battle then 350$ is next but
can we back 250 or even 200$ again? YES
JD Options Ahead of EarningsIf you haven`t sold JD before the previous earnings:
Now analyzing the options chain and the chart patterns of JD prior to the earnings report this week,
I would consider purchasing the 26usd strike price Calls with
an expiration date of 2024-8-16,
for a premium of approximately $0.99.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Kraneshares China Internet ETF | KWEB | Long at $26.00The "beginnings" of a change in the downward trend of China's tech stock market may be starting to unfold. The price of Kraneshares China Internet ETF AMEX:KWEB has finally reconnected with my selected simple moving average (SMA) which often means further price consolidation or future price breakout from the overall mean. I'm not saying this will happen immediately and this particular SMA likes to be tested to "fake out" buyers and sellers (sometimes over months or years). Plus, there are price gaps in the low BER:20S on the daily chart that often get filled before a run. But for the early birds out there, like myself, AMEX:KWEB at $26.00 is in a personal buy zone as a starter position.
Target #1 = $30.00
Target #2 = $37.00
Target #3 = $49.00
Target #4 = $100.00 (very long-term view...)