TAL - Overbought and still worthy of attention.
China is expected to focus on online eduction amid the recent Covid shutdown, but it appears the shutdown will not be as stringent as in the first major outbreak. I believe the price action is more likely due to end-of-year transactions by institutions. TAL has a high float and I don't see retail being the main cause for the recent volatility, even the market sentiment is high.
For the Bulls, I would give it time to break 9.63 and then observe the price action. Do NOT chase in this market! If it breaks 9.63, then wait to see new levels of support. Also, check out YQ.
For the Bulls, I would give it time to break 9.63 and then observe the price action. Do NOT chase in this market! If it breaks 9.63, then wait to see new levels of support. Also, check out YQ.
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