Construction to pick up in the 2H of 2021, great upside potentia50% retracement from its highs, current valuations are very attractive at PE or 10.
I expect the construction industry to continue to expand and chinese manufacturer to become more competitive in the coming years.
Great upside from its current levels.
600031 trade ideas
SANY Another China Roaring 2020s stock. Once can observe that from 2006 to 2011 this equity rallied, was effected by the 2008 financial crisis like most other equities. And when global markets stabilized, SANY continued to rally. 2011 was its peak and 2016 was its bottom. In between this time, this stock has created a triangular-shaped range. In that large range, it formed and fulfilled its cyclical depths and heights in minor peaks on a large timeframe. Now, this stock its putting in higher peaks as it approaches resistance at 14. I believe that 2019 -2020 we continue to see SANY rally to at least 26.
The daily chart has proven to support this case so far: