Bullish Wedge in $KWEB Stocks

BrianTycangco鄭彥渊
11-28

A descending (falling) wedge pattern with declining volume in an already established longer-term uptrend is typically bullish and signals a coming reversal to the upside.

There's a good chance $KraneShares CSI China Internet ETF(KWEB)$ and its constituents $Alibaba(BABA)$ $BABA-W(09988)$ $JD.com(JD)$ $JD-SW(09618)$ $PDD Holdings Inc(PDD)$ $TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$ and others will have a very strong year next year, which drives this technical story.

In a Trump presidency, China will be forced to fortify its domestic economy with supportive policies. Today, we saw several announcements stressing the need to encourage development of platform economy, digital finance, and digital economy-focused financial system.

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