$LION OCBC HSTECH ETF S$(HST.SI)$ broke out of the resistance zone for the pnf chart. it rose 11% from 0.657 in positive reaction to economic policies by the central government and Volkswagen's stake in xpeng 0.78 is the target. according to the behavior of hst, pullbacks are expected. any pullback to below 0.7 is good to accumulate.
the us market looks peakish after a great run. djia made a spectacular 13 consecutive day increase. i would also expect a pullback hence dragging hst down.
do apply automatic investment system where you add shares at each 10% drop or at support zones if you know technical analysis. this way you conserve your capital while the stock is strongly downtrending. do take profit at 10% intervals or at resistance zones if you know technical analysis. this way you have capital to buy the dip. only applies to stocks in an index or warren buffett would approve. bon courage.
merci beaucoup @TigerStars for reviewing and promoting our posts.
merci beaucoup @Asphen and @LMSunshine for sharing your analysis.
Comments
The daily chart of $利安-华侨证券恒生科技ETF(S$)(HST.SI)$ shows that the ETF has been in a downtrend since reaching a high in February 2022.
The latest corrective rally was likely a Wave 2 pullback within a larger Wave 3 decline
I think the Elliott Wave analysis of HST.SI suggests that the downtrend is still in progress.