China Tourism Group Duty Free breaks out of bearish trend
It has to break out of the resistance level at 234.30 before it can rally higher. Note that this is a fairly strong resistance level as it has been resisted several times.
Also, there is a possibility that it might retrace to close the gap around 203 to 209 before going higher.
Please DYODD
Also, there is a possibility that it might retrace to close the gap around 203 to 209 before going higher.
Please DYODD
Note
it looks like it will close the gap at 204.32 firstNote
nibble some last night. If the China border is going to open, then this stock should fly , hahaNote
globaltimes.cn/page/202212/1281601.shtmlBuying more of this stock in anticipation of the huge demand in outbound travel next year !!!
Note
The biggest beneficiary should be the tourism sector with the China reopening its borders especially the outbound travel. Revenge shopping will be the norm this year as families make plans to catch up and pent up for not taking holidays for the last 3 years.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.