In the short run it is overbought with an RSI over 73
However in the long run it looks like it is breaking out of a long downtrend and I see it reaching 22-23 next year.
Fundamentals are really good as P/E of 8.65 with earnings way below its longterm average.
The China slowdown has been priced in by far.
I will start a long position next time RSI looks attractive on the daily chart.
However in the long run it looks like it is breaking out of a long downtrend and I see it reaching 22-23 next year.
Fundamentals are really good as P/E of 8.65 with earnings way below its longterm average.
The China slowdown has been priced in by far.
I will start a long position next time RSI looks attractive on the daily chart.
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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.