Is investor sentiment back in Hong Kong?
HK markets have experienced 17 straight days of net inflows.
$HSTECH(HSTECH)$ is up 7% in the past 5 days, outperforming the $S&P 500(.SPX)$.
Below are latest comments from some profeesional gurus in the Tiger Community:
1. @Adam Khoo, he gave his forecast for $HSI(HSI)$ as below:
“After 6 bullish days in a row and after breaking above trendline resistance , the China $HSI(HSI)$ is on the cusp of a new Bull Market. VA bull market is defined as price CLOSING 20% above the bear market low.
If the HSI can close above 17,755, it would technically be a in a new bull market. Personally, I would like to wait for the 50MA (blue) to cross back above the 150MA (green) with both moving averages sloping flat or up to confirm the new bull market. Almost there... not just yet.”
@TechCharts
“My short-term upside target for the $HSI(HSI)$ is 20,263 (average P/E 11.64%) to 22,654 (P/E 13.01x).
This represents a 14% to 29% from current levels Like I have previously mentioned, I am short to medium term bullish on China (given its super cheap and oversold) BUT long term BEARISH. So, I will be slowly selling out my current positions once I can exit at much higher prices. “
2. @HONGHAO : $iShares MSCI Hong Kong ETF(EWH)$ is soaring past the 200d moving avg
The Hang Seng $iShares MSCI Hong Kong ETF(EWH)$ surging 20%, making up for all the YTD losses and entering a technical bull market.
Interestingly, it is soaring past the 200d moving avg, and seems to have broken the downtrend since its peak in 2021.
Image
3. @Elliottwave_Forecast give full wave trend analysis
$HSCEI it favors upside in ((i)) of C and should remain supported in 3, 7 or 11 swings against 16042.5 low to extend towards 18670- 20504 area.
Image
4.Some more add from @Aksel Kibar, CMT
#CHINA Strong breakout. More single names moving higher. 2,455 the neckline of the possible H&S bottom becomes the new support. @Aksel Kibar, CMT
@TechCharts
Comments