In March, I told you it was almost time to buy Chinese stocks.
Chinese stocks were one of the best-looking trade setups in the
world... but from a technical perspective, China still needed a little
more work.
The Shanghai Stock Exchange Composite Index (the "SSEC") – China's
version of the Dow Jones Industrial Average – was stuck in a
falling-channel pattern (a series of lower highs and lower lows). In
order to break out of this pattern and establish a new bull market, I
said the SSEC needed to rally above February's high of 2,150.
I suggested traders look to buy Chinese stocks once the SSEC broke above the 2,150 level. (more)
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