Nice setup with AIA (HKSE :1299)I seldom made any recommendation about companies in Hong Kong, but I just accidentally observe a great setup with HKEX:1299 which I think could be a great long target in short term.
I dont think we need any introduction of AIA, one of the largestest insurnace giant in the world. Its stock price has trading within the same 20% range for almost a year.
Since late 2020, its has formed some uptrend price action and been gradually getting strong support inside an upward tunnel. I like that it has formal a strong double base at around $93 and is now breakthru 100 within 10 trading days.
Its earning release is coming, with the current price action and 2:1 risk reward ratio (cut lost @ 93 / take profit at 115), it appears to be a great target to add into my position.
Hkex
HKEX:2196 Fosun Pharma retrace and re-entryAfter a flood of southbound cash into the HK bourse yesterday, HKEX:2196 Fosun Pharma shot up to resistance level at 38.95 within four trading days. Probably a little too much excitement for this particular stock. This was not expected on my part, but very welcome. I took profit as soon as I saw that this resistance level held.
Based on these charts, I would wait for entry when the price pulls back to support at 36.50, which also roughly stacks with the 20 EMA and sits nicely within its current uptrend channel .
I still believe it will reach $40-$41 in the near term.
HKEX:868 Xinyi Glass awaiting break of short-term structure for HKEX:868 Xinyi Glass has formed a flag pattern in the past two weeks. This sits within an uptrending regression channel. It should rebound off $19.26, and then, if it breaks out of the short-term down channel (marked by the two red lines), and hits resistance level 20.64, I expect it to rocket up to~$23.50. Timeframe ~21 trading days.
HKEX:686 BJ Energy Intl pushes past resistance uptrendHKEX:686 BJ Energy Intl has been uptrending since July, albeit spasmodically. It has become a bit more consistent since early November.
It just bounced off support (false break) level of 26.
If I was a gambling man, this will proceed up to $30, retrace to around $28.5 and then bounce again to $33. Timeframe ~10 days
RSI just hit 51. Good entry.
Low volumes tells me this is a reliable trend.
HKEX:2196 Fosun pharma ready to reboundHKEX:2196 Fosun Pharma has been in a steady uptrend since last March, it has pulled back in recent weeks in a tight bear channel to sneak below its 50 day EMA. However it has broken through this bearish pattern. Overall it has remained within its longer term uptrend channel.
I am guessing it will bounce up to just above a $40 tp. Patience required though - may take 30 days give or take, given the Chinese New Year period.
HKEX:2331 Li Ning set to bounceLi Ning HKEX:2331 has been dependable in recent months. Sitting within a tight weekly regression trend channel, it has just pulled back and hit 20 EMA which it seems to more or less respect. It is also moving with the industry-wide uptrend.
My guess is that it will bounce 10% within 30 days. Target exit at 55.50.
XIAOMI price is likely to extend the channel riseAfter the december 2 oversold, XIAOMI price showed a narrow path of upward trend, and by the Fib speed resistance fan can be found that the stock price fluctuations are all within the upper and lower 0.25 line rise.
There is also a good chance that XIAOMI price will show an upward trend in the future, with the turning point likely to be when the share price steps down and crosses the 0.382 line below, and it is recommended to focus on stopping the loss in time when the share price crosses the 0.25 line below
Disclaimer: Nothing contained in this idea and analysis should be construed as investment advice. Past performance is not necessarily indicative of future results.
HSI long term trendEvery 3-5 years or so, there is a short correction in the market and it ensures the market to grow sustainably. Although this is a complete different scenario compared to 2008's situation, the downslope pattern is quite similar. A downtrend is a downtrend.
I believe that the bottom has not yet came by looking into the downtrend timeframe. However, it likely won't take a long time until its recovery so the best thing to do at this moment is "wait and see".