$KWEB to the promised land, pump it, President XiChina is back online baby, fresh communist stimulus coming right up!
KWEB trade ideas
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...
KWEB short squeeze in playThe bottom might be in for now. Sure looking like bounce time coming. China internet should get hot short term. I had thought a retest of prior breakout but that not looking in the cards.
KWEB, Daily, LongLooking at support and RSI this time. RSI indicates oversold conditions, but prices may likely touch the support line again.
It is safer to wait until prices touch the displayed support line, but the current price is also a well-tested support.
Disclosure: I am long CWEB.
Potential longer term investment zones on KWEBI am personally bullish on Chinese internet/tech companies longer term
Just scoping out some zones where I could potentially add money into this investment
I don't think we would actually get to the third buy zone, but I would most likely be loading the boat if we did
Holdings:
portfolios.morningstar.com
China Internet Stocks Breakout $KWEBWatch for a breakout in the China Internet stocks. $KWEB looking to break out of this rectangle pattern on heavy volume.
