Yahoo Finance Watch For +15% Move In Chinese Stocks
We believe the continued pricing pressures of 2018 are easing as continued negotiations with US trade officials have everyone in high hopes for a suitable and equitable outcome. Our researchers believe the upside in the Chinese stock market could be as high as $32 to $36 in YINN before the June/July peak is reached. This would represent a +25% to +40% upside price objective from recent highs.
It is our belief that the continued US/Chinese stock market rally that initiated after the December 24, 2018 bottom will continue until a June/July 2019 peak is reached in the global markets. Pay attention because this could be an excellent short term price move for skilled traders to pocket 10% to 20% over just a few days or weeks.
Another pocket of stocks also starting to breakout are small-caps which I shared in a detailed technical analysis video last week. While we have suggested the US stock market is poised for further upside price activity with a moderately strong upside price “bias”, our research continues to suggest the S&P 500, DOW, NASDAQ stock markets will not break out to the upside until the Russell 2000 breaks the current price channel, Bull Flag, formation which is why I am starting to focus on small-cap stocks using my MRM Trading Strategy.
Chris Vermeulen
This article was originally posted on FX Empire
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