Let's get out and chill ....On a typical weekend, many would flock to the shopping malls after working hard for the last 5 days. They will have meals at restaurants , check out the latest movies, go shopping, relax and catch up with friends at Starbucks, etc. Of course, all these activities were what many did pre Covid 19 days.
But, with China now recovering and the city reopening, are we going to witness a rush of people going to the cinemas again ? Looking at the chart, it shows some promising sign.
IF the price can break out from the resistance at 10.16 and heads higher, I would take a small position.
China will overtake US as the country with the biggest box office takings in the world. The 12.28 billion tickets revenue may be dampened by the Covid-19 virus but we are not yet half time so the cinema operators still have time to play catch up.
