NASDAQ Golden Dragon: falling knife
I am sorry to draw the attention of all those who are not indifferent
$ BABA $ BIDU $ TAL $ NIO $ LI $ VIPS $ JD $ PDD
$ BABA $ BIDU $ TAL $ NIO $ LI $ VIPS $ JD $ PDD
- From a technical point of view, the potential for a fall of 30 points, this is the middle of multi-year accumulation at the end of 2013-2017
- Also, the level I set in the middle of the range acted as support twice: in 2019 and 2020
- The largest cluster in the volume profile coincides with the set level
The rise, as well as the fall, were very exponential and were accompanied by high momentum, so the likelihood of a return to this zone is high. It may well be an impulse that returns to its starting point. We are seeing a steep drop and a gradual increase in trading volumes, so do not rush to buy off the bottom. China will provide excellent opportunities in the future, all that is needed now is to wait for the asset to slow down its decline and go into the accumulation
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