Daily BriefsTechnical Analysis

Daily Brief Technical Analysis: Xinyi Solar and more

In today’s briefing:

  • Xinyi Solar, BYD, and Bank of China

Xinyi Solar, BYD, and Bank of China

By Untying The Gordian Knot

  • The main drivers for Hong Kong stock rallies are short covering, buybacks, and China government real estate support measures announcements.
  • Hang Seng Index and most of its constituents continue to read like bear porn. Without a meaningful reversal/impulse rally, it is hard to call for a reversal.
  • I hear and agree the case is so bad that it must be a buy signal. The sentiment is precious, BUT it needs a price action supporting the exhaustion thesis.

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