CK Asset (1113.HK) a BUYCK Asset'(1113.HK) DMI becomes strong, with DI cross -DI. The volume trade is increasing, it offer a potential upside of 20%.
CNGKY trade ideas
CK Asset Holdings Ltd (1113.HK) Ck Asset Holdings upside rally is still holding on after a strong break above the ascending triangle back in 29th December 2021. Despite a potential head and shoulder formation, we believe that prices will find support at 49.45-49.80, which is 2.43% change from the neckline resistance. Hence, we do believe that there could be a bear trap.
1113 first time above 200 ema1113 first time above 200 ema in a while and is now testing resistance.
Stop-loss: slightly below 200 ema
Take profit: next resistance level around 49.40
CK Asset Holding Ltd (1113 - HK) - ABC wave patternCK Asset Holding Ltd (1113 - HK) is in ABC zigzag wave pattern in 60 min time frame. It made B flat correction, which is about to end soon. But wait for five wave impulse in smaller time frame to confirm the start of C wave up. In weekly time frame it made huge WXY complex correction from the date of inception. Also it should start out-performing HSI to go up for C wave.
Hong Kong - the most expensive property in the world What happen when the world's most expensive property start to get cheaper ?
(cheaper is relative since a 10% fall is still out of reach for many people)
Is housing affordability one of the main catalysts that causes the unending chaos and protests in Hong Kong? Let the debate between the fundamentalists and value investors continue....
Let's focus on one of the chart, CK Asset which belong to the property magnate, Li Ka Shing.
It has broken out of the bearish trend line in mid Dec last year after suffering more than 30% fall from its peak in early Apr 19. It has since recovered about 13% and looks set to charge up higher.
It can still revisit the support at 50.55 before rebounding or break out of current resistance at 55.85 and heads towards 64 price level.
If you look at global equities, Hong Kong due to its protests had dented the stock market and making it very attractive for long term investors. I am both vested in HSI and selective stocks as well. When we talk about HK economy, two things strike out - one is property and the other is banking. These are two main pillars of the economy and the Government will do all it can to prop it up.
For the ultra rich who has confidence in Hong Kong , they can pick up the properties at a much cheaper price and at today's ultra low interest rate, they are literally being financed by the bank to become wealthier and wealthier.
Luckily, there is the stock market which is available to those who are not able to partake in the above game. Smaller capital with good appreciation rate coupled with compounding interest over a period of time can equally yield a substantial income as well.
Now the options are made available to you. Will you take it ?
