Market Technician

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  COIN continues to perform relative stronger than market (NASDAQ 100), while we observed that price has a good probability to break above the US$41-114 trading range.  Short term movement seems extended, we are keeping an eye on price weakness for entry for short-mid-term trading opportunity. Disclaimers apply.

  The previous week was relatively quiet due to the lack of significant macroeconomic data and the Thanksgiving Holiday, yet financial markets retained a positive trend. The S&P 500 is nearing its July 23 high of 4,607. From a technical standpoint, we maintain an optimistic outlook, while closely monitoring any signs of weakness in the ongoing trend. Our technical target is set at 4,650 area, with support at 4,500. Both the China and STI are currently operating within a downward channel. We are actively seeking signs of strength, such as a technical breakout from the trendline, before considering a more bullish stance on these markets. Despite this, REITs sector in Hong Kong and Singapore appears attractive from an interest rate perspective. We are awaiting price pullbacks to identify entry opportunities. Regarding tactical trading in the short term, we adopt a cautious approach but continues to seek LONG opportunities in the US markets . Concurrently, we are exercising selectivit

  Broadcom Inc (AVGO): Breakout from trading range 777-992, with potential move towards technical target 1,068. Stop below 866. Disclaimers apply

  Thoughts on Week Ahead: Week 13 Nov 2023 Expecting China Internet Companies Earnings to trigger China stock market directional move   US stocks traded within a narrow trading range for the majority of the week, but concluded the week with a strong close, +1.56% on Friday. From a technical perspective, the S&P 500 has surpassed 4,400 key resistance level, leading us to anticipate a potential move towards 4,500 , provided that 4,350 support remains intact. Investors and traders will be closely monitoring the earnings reports of Chinese internet companies this week. We anticipate a directional shift following these earnings, as the reports are expected to provide insights into the recovery and growth of the Chinese consumer market. Additionally, investors are also keeping an eye on the US Oct CPI report for any unexpected developments. Gold and oil prices experienced declines, influenced by a potential pause of tensions in the Middle East. Key support level for gold will be at US

  Alibaba (9988:HK): Technically expecting price to break higher as supply exhaustion observed in FFI indicator. Price has also been outperforming HSI since Jul 23.  Fundamentally, price could trade higher on upcoming earnings recovery expectations, equities market optimism and upcoming Double 11 sale. Earnings report announcement on 16 Nov 23.  1st Target price at 86.55, then 90.25 Stop Price below 79.00. Disclaimers apply.

  Market says US FED is done hiking rates The stock market is signalling that the US Federal Reserve is finished raising interest rates. This has led to a rally in growth stocks, which are particularly sensitive to interest rates. We are optimistic about the short-term outlook for the S&P 500, but cautious about the long-term outlook for equities.   We believe that there are trading opportunities in the growth sector in the coming week, but investors should be aware of the high volatility of growth stocks.   The bond market, especially longer-term bonds, also rallied this week on the Fed's perceived message that it is halting rate hikes. Fixed income investors may want to consider averaging in at current levels.   In the week ahead, we will be looking for stocks to pull back before going long . We will also be looking at interest rate-sensitive stocks in the Hong Kong market. Summary: - The Fed is likely done hiking rates. - Growth stocks are leading t