Are the Chinese tech stocks due for recovery?
The Chinese technology sector has appeared to turn the corner with the regulatory crackdown behind it and supportive government policies being rolled out to put the economy on the right footing for recovery. Hence, a rebounce may be in sight for the Chinese EV sector. In fact, I believe the current stock prices of the Chinese tech stocks $MEITUAN-W(03690)$
The Chinese tech stocks have been undervalued after the past selldowns and are trading on attractive metrics. Even though cheap stocks can become even cheaper, I believe that they are nearer to their support levels than to their resistance lines. With the Chinese government launching new measures to renew growth in the sector that has been important to boost employment, I'll be patient with the Chinese technology stocks for their long-term growth, even when I brace myself for more near-term volatilities.
@TigerWire @TigerEvents @CaptainTiger @VideoLounge @MillionaireTiger @TigerStars
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
