The price action has been relatively stable, with the share having traded in a gradual upward channel for 18 months. While the volatility appears to be low, it should be noted that the share may be developing a bear flag technical formation while the RSI is is showing signs of long term weakness as it struggles to regain prior support, one that held for just over six years. A breached of the trend line support opens up HK$205 as a potential bear flag target.
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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.