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Industrial and Commercial Bank of China Ltd.II

Industrial and Commercial Bank of China Ltd.

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IDCBY trade ideas

Wait for the asterik pattern before deciding what to do A follower asked me if he can start scooping up China banks since it is so low now. I find it hard to answer this question because it is not a straightforward YES or NO. We can see that ICBC has reached a peak of 7.50 in 2018 and for the last 2 years and 9 months, its share price is heading south. Today, there is a 4.5% jump in its price. Nothing to be overly concerned imo as it is a healthy correction. 4.48 is a crucial weekly support level that was broken down on 31 Aug 20 and now the price is in the midst of a retracement. Let's wait and see what happens when it comes back to this support turned resistance level at 4.48 again. Will it break out and continue the bullish trend ? If yes, then it might be worth exploring. If not, then it could also perform a U-turn about reaching the resistance level and heads further south. Some articles worth reading are here , here and here.
HKEX:1398
by dchua1969
Own a piece of Forbes' Global 2000 companiesMake a guess first before clicking this link ? Which country do you think scores the 1st position ? I randomly asked several people and their answers are all the same - USA. Yes, most would not believe that a China bank can beat even our 3rd contender; JP Morgan in USA. Of the top 10 companies in this list, half are from China. WOW!!! Let's take a look at the chart. The Day chart tells us after hitting a high at 6.00 in early Jan this year, it has been heading south thus far. And at current price, it seems selling is not quite done yet although there is some support at 4.70. The bottom is at 3.72 in Feb 2016 which I do not think it is likely to reach that level. Here's a better news - China is opening up to allow its big banks to penetrate the investment banking area. This will give offer some healthy competition in Hong Kong, US and Singapore where the main players are congregated. Put this stock in your watch list. Not a buy now for me.
H
by dchua1969
Fool me once, twice, thrice ......Apparently, based on the daily chart, this bank has fooled traders a total of 6 times to long the stock. But if you calculate the value of the share price, ie. bought at 5.59 on 31 Oct 19 and you hold till now, your paper loss is (5.59 - 5.23) = 0.36 which is very insignificant. With China now re-opening its economy, banks will be busier than before. After all, the chinese banks are still relying on F2F meetings and building relationships. The SMEs that are suffering due to Covid-19 will need the help of their bankers to get more loans, restructure their investment portfolio, etc. One of the main pillars of China economy is property. Construction companies, property developers will need to get back to work and complete their outstanding projects. As Government release more stimulus and low interest loans, those with the ability to repay back will make use of this opportunity and borrow more. The pent up demand will drive the suppliers to construct and complete even more.
HLong
by dchua1969
Industrial Commercial Bank of China. My only full Analysis. My only full analysis. Industrial and Commercial Bank of China(01398.HK) For example, capital $1000 Chart Pattern. The bottom is likely to be in established in 2016 because we can clearly see another “ABC correction” completed on the chart. This time creating a higher low. Also, with positive trade war news and rates lowered, we could see a confirmation of a trend reversal. (Top Indicator) MACD is about to cross and provide a green dot, signals to trading algorithms machines to go long. (Bottom indicator) Furthermore, I’m predicting the RSI to breakout once the stock price can break the 6 dollar mark. This will indicate the trading algorithms machines to “go long” because it will break resistant level on the RSI. ( How I would buy and sell this stock. ) I will go 25% in ($250) with my initial capital if the stock can close above the 21 month moving average (green line) currently sitting at 5.77 price level. If it breaks 6, I will go the rest of the 75% ($750). Long Term target 7.50-7.51. stop loss at 5.17. Last time the stock is above the green line was in February 2017. That was the start of an uptrend. Currently, TD sequential (numbers can the above) suggests this is possible. My aim is not to make money in stocks, my aim is to become world class at technical analysis. I want to become one of the best in the world by 2030. 70%-90% of the time correct. “I can still make money if I am late to an uptrend or downtrend (Go Short), but I can’t make any money if I am wrong”. Tone Vays.
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by johninvest17
1
Swing: Long ICBC as EMs are Looking to Make a Comeback!We had previously analysed both the China’s Index and Tencent. Looking at ICBC Chart, there is a high probability trade setup and we will be looking to take advantage of it to gain some exposure to EMs. What we like about this chart: 1. 5.12 region is a super strong support that gotten tested – touch and go, strong buyers came in to support and push the price up again 2. Our EP of 5.69, coincides with a prior resistance turned support region 3. Prior consolidation before strong up move, shows hidden buying activities at this level 4. Price action broke through both 50 and 200EMA with relative ease Our trade setup will be: EP: 5.69 SL: 5.31 TP: 6.32 Note: If risk is too wide, please adjust the other variable: your lot si ze Best Regards, NourCapital - Tracking Smart Money Flow Disclaimer: The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
HLong
by Nour_Capital
ICBC HK Stocks Daily Update (15/8/17)Trenches below supporting the price We have a resistance preventing the price from moving upwards. Once 5.8 is clear, it would easily fly. Disclaimer : This analysis not include personal feeling/opinion, and pure base on technical analysis Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. please inform me with post a comment if it reach some critical point/break pattern, reach target/reach stop level. or if there is any question about this analysis/need new update. Because im not monitoring this chart all time.
HLong
by imjmesl
1