MeituanMeituan in my opinion. Steady trend line going up. Even if there is a possible H&S, I am aiming for AT LEAST 380 level. SL 240.
GEELY AUTO NEXT MOVEAn unknown friend asked me to put a chart on 'GEELY AUTO'
I can read any chart using NEO wave technique and able to plot the next move with timing.
Most important is I refuse to use any indicators rather HATE all kind of nonsense which will not give you any FORECAST.
ENJOY trade well
SELVAM.B.
Engineer ,,Trader,,,Analyst
Long Xiaomi for short termIchimoku cloud is still in green, on upwards trend.
Stoch RSI still in the safe zone. And finally Fibonacci Retracement marks a reversal time.
Breaking above triangle with slightly higher volBreaking above triangle on last few days of slightly high volume.
Eyeing up BYD againOne of my favourite stocks, BYD, has corrected quite sharply due to a pullback in China stocks due to stimulus ending - over 40% from the top. I believe we are forming at least an interim bottom and now's a good time to add to the position. BYD is a profitable electric car company with huge potential which is still valued far less than the likes of TESLA. It should continue to ride the EV wave as soon as the correction in Chinese stocks are finished. Unless of course, the wider market experiences a correction.
1357 Meitu Head and shoulders buying opportunityBuy in the red box with a stop loss of 1,34 and targets of 7,5 and the resistance lines to scale out of your position
3319 A-Living Elliott wave & flag and pole buy opportunityBuy limit at 25,2-24,05. Take half profit at flag and pole target and the rest at the last resistance line.
FXI with less noiseI manually threw alot of the major holdings of FXI on the chart and weighted them together. Posting to track it
LONG 700 (Tencent)Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
LONG 6862 (Haidilao)Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
This consumer stock will explore (Xiabuxiabu)For those who do not live in China or have never been to China, you probably dont know about this company.
HKEX:520 is actually the largest chain of hotpot restaurant in China.
In their recent pre-release of annual result, they have declared the earnings has decliend by 90%...but yet their stock price didn't fall on that day...on the contrary it was a green day for them because the downfall in profitability was due to Covid..meaning the current price is actually a bottom line for their stock.
If you look at their price action, apparently it has consolidated at around 17.5 a share and its gradually gaining momentum to break-up the downward trend line and once it does, i m sure it would spike towards the 20 dollar mark.
With the cut loss price set at the recent low at 15-ish, there is a great 2:1 risk reward ratio for an entry to this stock.
Remember that China is almost totally recovered from the pandemic and its expecting to achieve 6% GDP growth this year. The next annual report of Xiabuxiabu could only be better so as its share price
Sands China is facing bullish pressure Prices are facing bullish pressure from our ascending trend line and could see a further upside above this level. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
Ping An is approaching support, potential for further upside Prices are facing bullish pressure from our ascending trend line and horizontal overlap support, in line with our 61.8% fibonacci retracement where we could see a further upside above this level.
Tencent fell from flip level seeking support at 570-550weekly: bullish with no doubt.
Daily: price retreated from 690 which happens to be flip level. The below 570-550 is a solid zone with flip & uptrend line & demand zone. Price is likely to rebound from here.
The descending channel is an issue, though not a big one.
