Powerful Traders, everyday EWA's analysing & working processPING AN - detailing complex Correction with HT (3-3-3-3-3) wave structure.
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2318 trade ideas
PURCHASE FOR PING AN INSURANCEHEY Traders,the bullish movement and signal too. Strong support the market should go for these higher ... make a pull back!
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601318
if you forcefully break the yellow line you can keep this action in your portfolio. and go retest 92.55. thank you.
!!! ping an insurance is gonna bleed a little further ! 1) going to the 62.21 price range
2) flying to the 110.65 as a first target (as far as i can see todaY at that particular moment)
3) then we will see the volume and where it could probably retrace (correct or it may mooning further (up to the volume and the upcoming needed healthy correction after reaching out the 110.65 price range ^_^))
it's up to you : sell it and re purchase at the 62.21 price range tag
or keep it and buy more (fill up more ,,, more bags of this stock when plummeting to the 62.21 pricing range ! ^_^ !!!
Is it safe to buy Ping An Insurance now?First post: Ping An insurance experienced a fakeout followed by a sharp drop in price, probably aligned to the market performance according to the 2019-nCov. The price is currently back to its support at around 22.6. Considering its strong resistence over the last seven months, it is safe to buy once its resistence is reasured.
LONG PING AN (2318)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.
Ping an supporti think, it is not time to go but it just seemed that yellow circle can be a support area. is it can be? if it goes down over that area it will down down down until market go up again
2318 HK: Top of the range for -17% downside2318 is a leveraged financial play on the Chinese economy which is not doing very well at the moment. The stock has been consolidation in a range between $68 to $80 from July 2018 to today. Stock is back at the top of the range which suggest there is an asymmetrical risk reward trade set-up.
Technically speaking, it is worthwhile to remember 2318 completed a 3-Drive pattern from the 2009 trough in Jan 2018 while fundamentally speaking, it is a victim of the Chinese deleveraging, slowdown in the private sector and a bombed out stock market. Consolidation channels are generally continuation patterns which suggest 2 potential downside scenario:-
#1 a retest of the channel lower boundary for -17% potential downside target
#2 a breakdown from the channel which would imply a CD leg down to $45 to $48, -40%, which coincides with the 78.6% retracement level of the Feb'16 to Jan'18 up-move.
So far, I am commenting mainly from the technical analysis angle with a smattering of fundamentals/equity story. Do let me know in the comments if you folks prefer more TA, fundamentals or a more nuanced view. Knowledge without timing = 0.
