China Petroleum (386.HK) - Bearish divergence spottedSub-wave analysis suggest that China Petroleum is heading for a wave -4 correction to the nearest support zone at 3.91-3.96.
Ping An (2318.HK) - Buy at minor correction Since the breaking out of the descending triangle on 6th Jan 2022, the up trend is confirmed with the Ichimoku heading for a three bullish crossover. However, some weakness is observed at HK$60.90 immediate resistance thus we can take this opportunity to buy at support. DM+ is seen sloping upwards while DM- is seen sloping down below the Average directional index. As such, we believe overall trend is tilting towards the bullish side.
China Telco Players - benefiting from 5G Technologywww.chinadaily.com.cn
From a high of 88 in March 19, it has fallen to a low of 58 in early Dec this year. It has now break out from the descending channel on 16 Dec 19 and there is more upside to come.
The 5G technology drive will benefits the few big Telco players in China, China Mobile being one of them. This is one of the key areas that the Central Government is paying lots of attention and what US is trying to compete with China now.
www.cnbc.com
Do we still talk about Evergrande? In the last post on Evergrande we highlighted the clear Elliot waves down and another set of five completing.
Now we're gotten a bit of a bounce and that might be the ABC correction part of the move and we might be into a new set of legs down.
Evergrande is ... kinda low. A continued downtrend may be a problem for them.
China Evergrande Group speculative buyGovernment intervention to aid the crisis-hit property sector:
China Evergrande Group named a state firm official to its board.
Two of its peers sold assets to state-owned entities.
The buy volume was increasing lately.
If you want a short term speculative buy, China Evergrande Groupcould be your pick.
Looking forward to read your opinion about it.
JD Health if stay we will start to see potential reversalon technical aspect , price has broken down descending triangle which target around $53. Price will likely to stay sideway along the 45-55 range before confirming a trend reversal.
HKEX Ranging TradePrice is in a range for HKEX between 430 - 540.
If price were to reject above the current support and break above the trend line , we will expect to see a rise to 500 follow by 540.
1083.HKEX_Retracement Trade_LongENTRY: 6.33
SL: 5.80
TP: 7.29
- ADX>20
- RSI>50,RSI<70
- Daily RS +ve
- Daily FFI -ve
- Daily MACD -ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD +ve
- Hit a high on 4 Jan 2022 and on retracement since then.
- Retraced until near 50% fib level on 18 Jan 2022 and uptrend line with above average volume and doji candle.
- Rebounded today with high volume.
Break above 23.6% will see next level
Price is still well supported above $418, 200days Moving Average and 23.6% Fibo.
Break above 38.2%, we may see $520 next week.
JD LogisticJD group share price has ben affected since Tencent has let go of its JD shares. However, price did not form new low in JD logistic . If price stay above 25.
We will expect it to go to 45 before retracement to form higher lower and with final target at $65
Ping An Bank broken downward trendPrice has long consolidated between $70 - $100. Which dipped to $50 recently. With a breaking of the downward trending, Ping An is most probably reversing from current area with the upward trend line to be the support where we should see price to go above 70 and fall back down shortly to $62.50 before the next wave up for share price to go back into the long consolidated zone.
TP1 : 70
TP2: 95.9
Final Target : 125
151 Want Want to go back in timeA number of Ross Hooks to get you into a trade after the range break. One particularly nasty shake-out bar, but then it becomes a RH. The last RH worked nicely if you had the patience.
CEB Bank (6818)One of the undervalue HK banking counter
If able stay above 2.78 and may breakout into an uptrend
VT Stock indicator is a stock breakout trend indicator for identifying the change of Mid to long term trend direction
(Disclaimer: for demonstrating own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
Bank Of China (3988)VT stock indicator show change of trend direction
VT Stock indicator is a stock breakout trend indicator for identifying the change of Mid to long term trend direction
(Disclaimer: for demonstrating own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
1798 Structure tradePrice coming back into support.
Long entry where buyers last showed up.
Buy 2.96 s/l 2.73
T/P at the ML gives >2.5RR.
Mod-Schiff, looking for a new high gives >5RR
Tencent... is it good to bottom pick now?My Humble Opinion on Tencent
Currently, the price is in the consolidation zone. Note that the "consolidation" process is a neutral term. It does not have a bullish or bearish bias. It just means that there are BOTH buyers and sellers interested within that narrow range. Hence there is a lot of transactions for a long period.
Over a period of time, either the sellers will run out of interest or the buyers will. When this happens, the price will move accordingly. Given that the primary uptrend is still intact, we can safely assume a small bullish bias on this consolidation. This does not mean that price will be 100% supported. It just means that the chances of price going up are slightly higher.
Should the price falls below 400 into the Bear Territory, traders will need to get the hell out. Value Investors might need to relook at the fundamentals before blindly averaging down.
If the price heads up after the consolidation, we will expect some form of selling pressure at 525 to 580. So do not expect a sharp recovery.
If I am looking to trade this, I will not touch Tencent until the price can recover above 600 (Bull Territory)
On the other hand, Value Investors may continue to pick up these stocks during this consolidation phase IF this company is aligned with your investment goals (certainly not aligned with mine)
Personal Verdict: Stay the hell away!
1798 Structure buyPrice has broken a range and looks to be starting higher highs, higher lows. Should be quick to s/l or t/p.
Xiaomi bottomed - We are heading towards new All-time highs!Hey Investor,
please see my current idea on the Xiaomi stock, where my count suggests a possible bottom for a trend reversal in order to make new highs. This is calculated based on my Elliot Waves Count by the fact, that wave C has the same length as wave a.
I have checked the inner structure of wave C in order to check the inner structure of this wave. Based on this knowledge I am very confident that we might have our bottom here.
Let me know what you think.
This is no financial advice, just my technical view.
RT
1921 Review of chart and trading opportunities.We like tight consolidations. The more frustrated traders get, the more potential there can be. If you have patience.
This is just a review for my own education, and to pay attention to the clues staring me in the face. I didn’t get involved with any trades.
1) Nearly a two month consolidation with two significant ultra-high volume days, on down bars, but price didn’t follow through. There are buyers here however. Even though we see the buyers are here, jumping in to buy with them would have been frustrating as price continued to chop around for another month.
2) We see bullish volume appear but the bar closes in middle of the range. A handy first clue, but not an encouraging result. The break out bar the following day provides the key. The buyers have waited & tried to get their demand filled, but they didn’t get enough, now they show there hand and start to buy through the consolidation, and closes above the consolidation. Buy at close, s/l at low of the bar.
3) Alternate entries, either a Ross Hook for an early entry, with 5 days chop, or wait for the flag to form, and buy. The close of the break out of the flag isn’t the strongest. A problem with either entry is a previous high in the back ground.
4) Previous high rejected & broken, provides another Ross Hook opportunity.
5) A couple more Ross Hooks, but can you take them so far & late in the move? They did pay off however. Maybe the first one got stopped, but 2nd one is good, especially the tail. Would you have taken the 2nd, if stopped on the first? Would you think it's too extended?
6) S/L and target management. Fixed targets would work, or manage stops via structure/pivots, if you think it has legs. The prior high would be a logical 1st profit target. Could re-enter if it breaks?
Xiaomi - End of correction at half of 2022?Bearish momentum weakens slightly..........................................................<>
Awaiting breakout for Anta SportsBe patient, wait for the breakout to happen first, not try to pre-empt the market moves
