Watching The monthly chart All the moving averages are showing downwards momentum. 200 ma (Grey Line) is bullish that is due to historical rally from 2002 to 2011.Then we have a black sr line that shows resistance on four occasion starting from feb 2012 to sept 2014. Then it was broken on April 2018 and provided support but failed to make higher highs and formed a declining wedge. Break of the wedge on 2 March 2020 triggered a sell off till the Support rectangle. RSI is currently showing no divergence which tells that the downtrend does not show fear or greed but some fundamental catalyst existence.
Will only buy after break and confirmed back test of Black line.
thanks for reading. Appreciate comments and feedback
Samsonite | SellPrice reached 2.5yr downtrend resistance. Technicals also showing negative divergence. Rally hitting key fib retracement levels. RSI could fall back down into bear-range.
Fundamentally, I've being bearish on Samsonite ever since they (over) paid Tumi back in 2016. Luggage is a commoditised product. Online competition was becoming fierce (Away Travel was just launched offering lifetime warranty, Xiaomi had one of the best carry-ons I've seen for <US$80, and so many generic brands on tmall and jd.com, etc). I even did a quick scan of 2000 tourists at a cruise terminal in China; Not too many carried Samsonite (various brands under the group), and the ones that did had the low-end brand/models.
So..time to sell. The bearish fundamental story have not changed. Bad pre-covid. Very bad during-covid. Still be bad after covid.
1 HK | Range break outBuy on breakout. 20% upside. Still trading at big discount to NAV. Pays decent dividend. Hong Kong's richest person still owns 30%.
Consolidation or large correction? What's your opinion?Consolidation or large correction? What's your opinion?
HKEX:3800
LONG 883 (CNOOC)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.
Everyone is talking about Vaccine ..........Oh , come on ! Give the humans race a break !!!! We need to get out and live our lives like before... Work........Dine outside........Fun and Entertainment........Play sports........Pub Hanging........Watch a Movie.........Picnic..........the list goes on.......
Now, the vaccine is getting closer to being launched and everyone can't wait to get themselves vaccinated with it.
This is one promising Vaccine stock that I am eyeing. It has broken out of the bearish trend and is expected to go higher .........
Also notice that it has triple support at the blue dotted line at 141.6
SMIC analysis after breakoutSMIC has broken out of it's resistance line and now is heading for a lot of upside forming an upward wedge.
860.HK - Up-thrust spottedThis bar is similar to the 18th Sept bar but a smaller version. High spread with high volume and closes below mid, expecting the price to retrace to the congestion area at 0.45
Stop loss for intra day traders at below 1 dollar A massive push to the downside ever since it hit the 1 dollar mark
Either A lot of upside or a lot of downsideIf it retests and breaks the resistance level even further, this stock may go up a lot but if it backs down, then it will go down a lot.
Xiaomi Upside Potential and How to invest in itXiaomi has a lot of good news recently so the stock will most likely go up.
LONG 1177Expecting 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.
