Some Asian Breakout Ideas
The iShares China Index Fund has completed a 10-year massive symmetrical triangle on the monthly graph. By clearing the 2015 high this ETF has an upside target of 71.74. I will buy any slight reaction in this ETF, risking to 44.77.
Singapore Index
The Singapore Index (futures) has completed a multi-year rectangle on the monthly graph. I consider this to be a significant bull signal supported by fundamentals. The Shiller CASE Index suggests that Singapore is one of the most undervalued markets globally. I am willing to take a shot at the long side of this market on a retest of 398.1, risking about 75 basis points.
Osaka Nikkei
This one published to Factor members in the past. The target of 24,010 from the underlying 10-week ascending triangle has been met. Factor remains long a tranche with a revised target of 24,830, having taken profits on a tranche.
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