20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of major U.S.-listed Chinese companies were trading mixed in Hong Kong on Monday, with gains in major tech stocks offsetting a drag in the electric vehicle sector.
Alibaba Group Holdings (NYSE: BABA), Tencent Holdings (OTC: TCEHY), Baidu Inc (NASDAQ: BIDU), and JD.com Inc (NASDAQ: JD) shot up. Among EV stocks Xpeng Inc (NYSE: XPEV) and Li Auto Inc (NASDAQ: LI) slipped, while Nio Inc (NYSE: NIO) traded in the green.
| Stocks | Movement (+/-) |
|---|---|
| Alibaba | 4.92% |
| Tencent | 3.49% |
| Baidu | 3.99% |
| JD.com | 4.96% |
| Nio | 5.41% |
| Li Auto | -3.98% |
| Xpeng | -0.15% |
Shares of these Chinese companies ended higher on U.S. bourses on Friday.
Global Markets Recap: At press time, the benchmark Hang Seng Index was trading 2.75% higher amid signs of economic recovery in China.
Elsewhere, Shanghai's SSE Composite Index gained 1.16%, Singapore's SGX Nifty was up 0.84%, while Japan's Nikkei 225 inched 1.04% higher.
Macro Factors: Hong Kong stocks approached their highest level in three months, hoping that the economic data this week would show China's recovery from COVID-19 woes. According to consensus forecasts on the Purchasing Managers' Index tracked by Bloomberg, China's manufacturing is expected to have expanded last month, defying the contraction trend in the past three months.
China is also relaxing its lockdown measures further, with capital Beijing resuming in-class teaching from Monday. Elsewhere, Shanghai's Communist Party chief declared a victory in the city's battle against COVID-19 in a meeting over the weekend.
Company In News: Alibaba Group, JD.com, and Tencent Holdings may not be out of the woods yet. According to reports, China's regulatory crackdown, which has seen a let-up recently, could come back in full force soon.
Korea Investment Management Co fund has gradually lowered its exposure to Tesla Inc (NASDAQ:TSLA), but has added names including BYD Co (OTC:BYDDY) and Xpeng in March and April on the dip.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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