melson
2023-06-01

$LION-OCBC HSTECH ETF S$(HST.SI)$   got a boost this morning with surprised factory activity growth but died down. looks like the sell down in china stocks is deliberate after observing many ill fated rebound rallies. 

i sold at 0.647 after locking in sgd1,600 gains. hst will likely continue to fall until around 0.59 before any sold rebound occurs. this is the next support zone according to the pnf plot. 

$HSTECH(HSTECH)$  support will be correspondingly at around 3555. you can make use of $Hang Seng Tech Index - main 2305(HTImain)$   to have a few hours preview of whether it will dive or soar as it trades overnight. hstech is pretty elastic, so the harder it falls, the rebound is going to be high too. 

i will be patiently waiting for the price to drop to the support level before loading up again.

merci beaucoup@TigerStars   for reviewing our posts. 

merci beaucoup@Asphen  @LMSunshine  @Shyon  @DiAngel  for sharing your analysis. 

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Comments

  • Asphen
    2023-06-01
    Asphen
    HSTECH looking good again; Inverse Head and Shoulder close to forming!

    - In a controlled sell channel for a long time
    - Tapering sell channel with the break of June 2022 and then a re-test of that breakout Oct 2022
    - Right shoulder being formed now with a full formation and break of neckline towards a breakout
    - Relatively bullish

  • LMSunshine
    2023-06-01
    LMSunshine
    Congrats on your profits buddy🥳🥳🥳 and thanks for posting and sharing with us❣️
    • melson: 
      [Happy] [Love]hst is a tricky one
  • JohnnyYoung
    2023-06-01
    JohnnyYoung

    happy for you that you still make money with heng seng stocks!

    • melson: 
      very tricky to earn money while it is mostly trending down
  • HarryCox
    2023-06-01
    HarryCox

    hong kong stocks are being hard… should stop investing 🙃

    • melson: 
      the rebound wasn't as strong as anticipated hence the disappointment and withdrawal of investment
  • JohnMitchell
    2023-06-01
    JohnMitchell

    What are the market dynamics for hong kong? 

    • melson: 
      market disappointed with the weak rebound and growing tensions between us and china over Russia and Taiwan
  • Shyon
    2023-06-01
    Shyon
    Wow great article, pro melson!
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