KWEB trade ideas
$KWEBKey Inflection point ..from the highs ..not shown, clear A=C so possibility 4th wave complete and we are way up in wave 5 ..other possibility is we are in wave 4 of much bigger diagonal
Similar Patterns in a nutshellAs shown in the 4 charts. Almost all Chinese-related stocks/indexes/funds are tracing what SSE is doing at this moment. However, in this area, I am not too sure if SSE would fall or breakout from the resistance levels. So my suggestion is to keep an eye on the Shanghai Stock Exchange, and that would be a great indicator for traders who are interested on trading US-listed Chinese stocks.
Besides that, I think Baidu, the Chinese Google, is really undervalued at this moment. I am looking to long the ticker, but be careful with SSE.
$KWEB to the promised land, pump it, President XiChina is back online baby, fresh communist stimulus coming right up!
China Internet ETF - Bull flagTechnical analysis
We tested resistance approximately at the $50 limit; and broke it on Thursday, January 2nd.
Now this resistance has become out short-term support.
A bull flag is forming today, as a continuation of the bull pattern.
Top 10 Portfolio holdings
Name - Symbol - % of ETF assets
Meituan Dianping - 03690 - 10.43%
Alibaba - BABA - 10.19%
Tencent Holdings - 00700 - 8.83%
Baidu - BIDU - 7.46%
JD.com - JD - 6.58%
Pinduoduo - PDD - 6.56%
Tal Education Group - TAL - 4.27%
NetEase Inc - NTES - 4.21%
Trip.com - TCOM - 3.45%
58.com - WUBA - 3.36%
Top 10 holdings % total = 65.36%
Market cap weighings = 65% giant cap / 25% large cap / 10% medium cap
KWEBLoving this set up for getting long. Based after half cup break out, which now appears to be setting up for another leg up. Lines on chart, and just my thoughts...
