Since Geely continues to trade below the HK$20.90 mark, we have to consider an alternative scenario: A corrective top may have already formed in mid-April, with the subsequent sell-offs representing a downward phase likely to end with a low just above the HK$7.24 support. This scenario would be triggered by a drop below HK$12.94 support (probability: 28%). Primarily, however, we see Geely in an ongoing upward move, targeting a higher-level corrective high likely well above the HK$20.90 level. Accordingly, the current sell-offs should end soon and give way to renewed gains. Once a top forms, we expect significant sell-offs.
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.