Long CQQQ
Updated
Story: The Chinese technology stock market has suffered substantially this year for a number of reasons - to put some perspective to this, XLY0 is down 19% YTD, while CQQQ is down in excess of 25%. Be it the trade war with the US, the feared slow-down of the Chinese economy or other political / geopolitical regional tensions the sector has been beaten down to levels that appear particularly attractive. From a technical perspective CQQQ has reached levels which if broken would indicate a return to the pre-2015 levels, something that would both imply and trigger substantial recession calls.
Entry Price: USD 45.60
Stop Loss: USD 42 (-7.89%)
Take Profit: USD 55 (+20.61%)
Expected Duration: 2-4 months
Entry Price: USD 45.60
Stop Loss: USD 42 (-7.89%)
Take Profit: USD 55 (+20.61%)
Expected Duration: 2-4 months
Trade closed: stop reached
Stop loss was reached - markets are shaky the last couple of days...
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