$HTI Futures(MAY4) (HTImain.HK)$ $KraneShares CSI China Inte...
$HTI Futures(MAY4)(HTImain.HK$
$KraneShares CSI China Internet ETF(KWEB.US$
$Alibaba(BABA.US$
$TENCENT(00700.HK$
$JD.com(JD.US$
$KraneShares CSI China Internet ETF(KWEB.US$
$Alibaba(BABA.US$
$TENCENT(00700.HK$
$JD.com(JD.US$
Hangseng tech index is consolidating pretty well today above the 5ema on the 4hr chart. It is still looking bullish as currently it is consolidating while waiting for 20SMA to catch up. China retail and industrial reports came out surprisingly better than expected which was forecasted to be weaker due to past 2 results showing a decline in growth.
As I said in my YouTube market outlook that this surprising result may actually help boost sentiment for China shares and we shall see if HSTI does break in to the 6610 range and go towards 6900 range to retest the resistance again.
If it does push up to 6900 with last week's rally, we may see kweb retesting 55 resistance which is by far one of the stronger resistance this year. Once it is broken, we should see kweb going towards 60+ range and hopefully reversing the trend for China tech stocks. Which is good news for big tech stocks like tencent, alibaba, JD, meituan, netease etc.
We may also see kweb retesting 55 and failing to break and see it coming back down to 47 to 50 range again back to consolidation zone until this clampdown is officially over before we see it rally back up.
So as always, trade safe & invest wise!
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monthly : slowly climb up
Investing 101OP : Yes. I believe it is in consolidation now due to recent jump up. Needs some time for 20sma to catch up. However it may just touch 5ema a few times and do another push up pulling the 20sma even higher. So have to monitor the price action very closely or you may just miss the opportunity to add more positions.
monthly : see how it react when it come to 54, the previous high