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hi guys welcome back so guys have you seen the eiffel tower for real well i have and it's so beautiful and recently i just saw one i mean look at this isn't this the beautiful eiffel tower 90 degree up 90 degree down so steep so tall two days ago i was saying that chinese are just too good at diving and i was so amazed how yang could shoot up straight to the moon without landing and two days later back to the earth crazy another good diver so i guess you are seeing the news everywhere these two days about the hansen index growing like a rocket from the bottom and it kept breaking the historical record for a single day of growth that's how crazy it is on wednesday it grew 1600 points and yesterday again fourteen hundred so two days more than three thousand two days wiping off all the huge stiff for the past eight days that's super insane kind of rebound i think no one have imagined this strong so this was mainly driven by the chinese sec giving out the promise that they would do whatever it takes to ensure stability of the financial market and push for better cooperation between the chinese and the ussc auditing rule this kind of settled down a lot of the uncertainties or a lot of the worry or panic that a lot of investors have without the listing issue last week saying they would be working harder and have more communication with the usscc to try their best to reach some kind of agreement as soon as possible and come up with more clear rules or regulation about foreign listed standard procedure and fully support companies to get foreign listing so i guess this news did not say anything solid did not come out with anything like new rule new standard but just giving a promise that they would try harder and work better with the u.s and um that's it that's all it took but i guess this is enough for a lot of investors to ease their mind and follow the signal that the chinese government is giving out even though there's nothing solid and news like this also make a few wall street institutions also change their mind about the chinese stuff suddenly a 180 degree turn and i guess that would include jp morgan who downgraded basically every single chinese internet stocks two days ago when it was at the bottom basically all of them and at least cut them by half but just a chinese sec seeing something it's enough for them to change their tone even though it was just two days ago when the stock had been driven down so much they would say chinese stars is too early to buy the dip right so overall the story line is four weeks ago major investment banks like from credit suisse to goldman sachs say it's time to buy chinese stocks that was four weeks ago four weeks ago it was here mid-february and then what happened like i showed you last video one bad news after another every day driving it down further beating it down further because it was just so frequent the bad news coming out almost every single day giving us no time to breathe the last one was the jp morgan calling all chinese stocks uninvestable and then now one day later with one news that the sec of china is going to support foreign listing companies boom straight up to the moon three thousand points from the bottom historical run and after the two strong day of rebound right away we see credit suisse upgrades chinese stocks to overweight following a recent commitment by the country's policy makers to support the economy when i saw this i was like isn't it obvious why is it even a news that is enough to change the attitude 100 degree like that right because other than this oral promise there is nothing solid that we can see so pretty much for me nothing has changed so we can see that a lot of the big investment funds were bullish here and kept giving out bad news and downgrades here and right now at this point they're turning bullish again this is why i always say i don't look at news to do any investment because it's completely completely useless and manipulative we would only be swinging around as the last source of information this to me looks like the whole battlefield between the long and the shorts and the short sellers are going crazy going on fire from the top of my head i'm guessing the wall street big dogs and together with some people that has information from the insider the high official of the government together making up this whole drama it's almost like a movie to watch quite dramatic huh and this is again the big dog have grabbed enough dip closer short position and now together with the chinese government teaching the chinese stocks short sellers a painful lesson that you should never never show those thoughts because you can't but i can this is why on these few days i was getting really suspicious i said on the discord that there were news coming out every day and the index is speeding up to go downwards it's like rushing to finish the sell-off before some kind of good news to come out so a lot of people wonder right now has the market really bottom for real and if you have bought the dip should you sell right now and if you didn't buy the dip is it too late to buy or is it better to wait now i think this rebound this straw is a lot of short covering and the power is beyond our imagination i guess really too many people were shorting chinese stocks that's why if you zoom out the volume was very very large it's usually a good signal to have this much volume it means there's a huge change of hands from someone to others so i'm guessing mostly the retail investors panic selling and the big dogs who have information just keep saying give me give me give me all the cheap shares and after they finish grabbing the dip enough chip they have and then the powerful pullback this is why usually towards the end of the big fall it usually comes with huge spike of volume so that is one of the bottom signal so now the rebound had happened already what do we look for next the sure thing is i do not think we're gonna see this movement and shoot it all the way back to 25 000 level you know at best the best situation it can climb up back to this platform back in december so it can continue do the consolidation like we can wipe off this segment that is the best situation the most ideal case right now and i think it's less likely what i think is more likely to happen if it's really turning good i would expect it to move on the sideway for a while and trade in a trading range maybe it would give a second leg a double bottom or a somewhat deeper dip before recovering back up that's a more preferable situation so if you have missed the dip i think it's not the end of the world and the third scenario is for it to consolidate move on the side and then potentially might reach a low low especially if there is more systematic risk with the global financial market or some kind of geopolitical issues coming out of nowhere again other black swan i think this is the third scenario that might happen so in any case i think right now after such a strong rebound we should take the advantage of the recovering optimism to trim some of the positions especially the deep we have grabbed during the last couple days they were all up so much already so why not lock in some profit for hsi even though it has found the bottom right now the problem is the global market do we see 100 certainty yet and i would say i don't i don't think we have passed all the troubles all the issues that were bothering us before i would say recently we have some more of an ease but not completely out of the woods yet so and also hsi has been through such a heavy and steep and fast crash the confidence is not gonna recover that fast usually after a crash it takes time to recover to build conviction again so that's why i don't think it's going to be a v-shaped recovery back to 25 000 level at most i can see it coming up to about 22 000 something level and right now we are a few hundred points away is it worth it to risk buying in right now for a few hundred points versus all the other black swan news or potential threats coming in the market i think it's not worth it if we wanted to buy the dip i've encouraged everyone to grab the dip before like two days ago on tuesday i called out to buy baba at 74.
and you can see the lowest baba got to was 73. we almost caught the dip at the absolute bottom already and after that yesterday we had a 36 percent up running up how when do you ever see a giant like baba to run up 36 in one day uh never i'm more than satisfied for this dip if some of you have grabbed a call option i believe it would be around 500 to 1 000 up in one day very very very dramatic but after this and on monday morning when it was so so much panicking so fearful i said i think chinese dogs should have a rebound relief if not today then maybe tomorrow so don't panic sale and you can see that most of the chinese stocks had bottomed on monday or tuesday some of the growth stocks like chapun the stronger ones have bottom on monday and started the rebound already on tuesday the next day earlier than the bigger attack and last week i made the video i said watch out for these opportunities i went through many stocks on the list with you guys and if you have used those support level to buy the dip i believe the profit would have been huge already i believe already i think at least 30 to 50 percent profit in a few days at least and basically anyone on that list have made this minimum amount of profit if not more i mean look at pdd from 23 to 43 that's almost a double 85 percent up so right now for hsi or the chinese stocks i think the best strategy is to keep buying low and selling after the rebound to lower the cost average and to try to grab the profit in between of this trading range like i said on tuesday right now we are experiencing a crash the market is still very fragile confidence are a lot hurt with this crash so it's not going to recover fast so right now i think the best strategy is to use the news as the opposite indicator counter your feeling your nature and keep selling on good news and buying on bad news like these few days we have good news coming out maybe it's good time to trim and wait for the next bad news because come on it's chinese thoughts why wouldn't we have bad news i think if you're patient enough you can't wait until the bad news arrive to grab the dip if you're brave enough so do it for many times i think your long-term position can lower the cost significantly right now i think it's not the time to buy and hold for long let's see how these couple weeks a couple months go before we go long and heavy and not touch it for me if i need to give you a time frame i would say somewhere between september and october maybe it would find the bottom there and start to have a big recovery that's my hope or my optimism right now why september and october because there is something very important is the continuation of presidency so if it's still uncertain that whether c can continue his presidency i think the market is still full of doubt full of fear worries and the market cannot grow like this but once it's confirmed i think the biggest issue is behind maybe it would have a better healthier steady run after that before that i see it just moving up and down a lot of volatility maybe going towards somewhere in july we can see some small rally because it's the 25th anniversary of the hong kong returning to china but for the more certain bottom i would look for october or september somewhere between this time so i would decide then whether i can buy and hold for long term and not touch it that's it but um a couple weeks ago i remember saying that right now we are at this critical point of this long-term trend line and if it dips below that we should treat it as a once in a 30 years opportunity and i guess you won't believe it until you see the historical rebound for two days huh this is indeed once in a 30 years opportunity to go crazy like this so in the last video i asked you guys to leave me comments and tell me which stock you want me to give out the support and resistance first one is neo obviously so before i gave out the recommended buying range for neo between 14 to 15 and it has dipped way below that it got to the lowest of 13.
so if you have grabbed the div there congratulations it is very very good profit already so neil is still moving on this downtrend channel this has still not changed few days ago it had dipped below this channel and right now we have jumped back on it so i think it would be the similar thing for it to move within this range to reverse the downtrend it first need to break out of this trend line and for now it looks like it would be half and before then we can only treat this as a rebound and after it touched this trend line it would act as a resistance again and maybe come back down whether it is to make a double bottom or reach lower loss we'll see then so right now the support should be around 16 to 17 and the resistance around 19.5 to 20 range if it hits around 20 i think a lot of short sellers will open the short position again next is eh last time i said the last support i have for eh is around 10.8 it got broken for one two three three days and luckily it got back above quickly so for the look of it i don't consider it broken because it was a very very quick dip it did not stay below the support for a long time so same thing for now 10.8 is still the support and resistance is about around 12.
if this support is broken again though i think it would go down to reach the next level someone asked me about 10 cent last time i said it was closing at 297 so it broke 300 and it was exactly back testing this green trend line the 150 em the 120 ema so i expected it to get supported and after that it rebounded more than a hundred dollars from the bottom of 297 for now go back to the daily chart i do think it has rebounded too close to the level of resistance which is this giant trading range that has been supporting it for almost a year already around 410 to 420 and yesterday we got really close to it maybe just 10 or 20 more dollars so i think the risk reward ratio is really not that high here because it has broken the support unless it has gotten back to this trading range then this would act as a support instead of resistance then there is a second chance for you to buy when it back test right so that's why when my discord member asked me about c web i don't think the risk reward ratio is high right now when the big tech like tencent and baba are close to resistance i said if you want to buy sea web watch out for the baba support to buy that's why i pointed out on tuesday tabaiba at 74.
that was one of the lowest point for c web as well it was around 3.9 when baba was at 74. so from 3.9 to all the way 7.6 almost a double already when i call out to buy the dip that's when to buy the dip and after run up i think the risk reward ratio is not that high already so maybe just wait for a pullback and watch out for baba and tencent for reference someone asked about palantir so for volunteer i said i bought the dip on this day the official news with the russia and ukraine war volunteer reached the lowest of 9.7 i bought around 10.
right now it's already 20 something percent up a little bit distance from the bottom already so again i would say risk reward ratio is not that high but the good thing is that it looks like it might have formed a double bottom so you might as well just wait a little bit like one or two more days to see if it can break out of this w shaped bottom if it really can break out then you can still wait for the back test back to this level to buy if not it would reach lower either uh lower lows breaking this platform again or form a trading range so you can buy at the support and sell at resistance for now support is around 10 and resistance around 12.4 so if you have other stocks in your mind you can feel free to leave me comment for me to analyze the support and resistance in the next video for now we call it the day and let's enjoy the big rebound and don't forget to lock in some profit now if you have enjoyed this video please give me a big like and write me a great comment and i'll see you in my next video that's it guys hope you can find my videos helpful make sure you subscribe to my channel and give me a big like thank you
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