China A Shares Carving Out Bottom

Everything about this chart set-up tells me to expect higher prices for the Morgan Stanley China A Shares Fund (CAF), possibly much higher prices!

The enclosed powerful downtrend from November 2010 represents only the most "recent" decline from within a 5-year bear market.

The price structure has been carving out, and doing the work necessary to form a significant bottom since the end of February.

Serious momentum combustion is building that should rocket the CAF above key resistance at 19.50/75 towards a test of the 2-year down trendline, now at 21.75.

Perhaps tonight's GDP data from China will provide the bullish catalyst to initiate the upside breakout?


  Matched
x
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!