China Internet ETF (KWEB) - Most O/S Since 2013
China Internet (KWEB) - Most Oversold Since 2013. Opportunity To Phase In?
The fallout may be providing opportunity for a small long position.
Some of the drivers:
- 7-week RSI at the lowest level since 2013. Reading of 11.
- Price at lower boundary of 200-week linear regression channel.
- Back-test of May 2020 breakout level.
At $47.65, the sharp decline appears to have opened up a mean reversion opportunity. There is a higher level of RISK so SMALLER positions apply.
I would look to buy at current levels or lower
Last: $47.65
Preferred range: $45.00-48.00
Stop: $38.00
Target Range: 58.00-67.00
The fallout may be providing opportunity for a small long position.
Some of the drivers:
- 7-week RSI at the lowest level since 2013. Reading of 11.
- Price at lower boundary of 200-week linear regression channel.
- Back-test of May 2020 breakout level.
At $47.65, the sharp decline appears to have opened up a mean reversion opportunity. There is a higher level of RISK so SMALLER positions apply.
I would look to buy at current levels or lower
Last: $47.65
Preferred range: $45.00-48.00
Stop: $38.00
Target Range: 58.00-67.00
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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.
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.