InnoLight $ZHONGJI Trading Plan After the Sharp Early-Session Drop and Long Lower Wick
Dragged down by sentiment in overseas tech stocks, the price quickly fell during the early session, briefly touching 77.62 before heavy buying emerged below the 78 level to absorb selling. The 15-minute chart formed a clear long lower wick and then rebounded to around 80. This looks like the initial stage of bottom-finding after a sharp drop. Avoid chasing the price higher; wait for a second pullback to test the strength of support.
Key levels:
- Entry: 78.20–78.80 (the early-session zone of concentrated buying around the wick; wait for a stable 15-minute candle before entering in batches)
- Stop-loss: 76.80 (exit immediately if the price decisively breaks below the 77.62 wick low; strictly cap the trial position’s risk at 2.5%)
- Take-profit target: 81.60–82.50 (resistance at the platform from which the early-session gap-down began; take half off at this level to protect your capital)
If attempting a rebound from the left side of the chart, keep position sizes tightly controlled; exit decisively if support breaks. Do you think this long wick was a shakeout by major players, or the beginning of a catch-up decline in the computing-power chain?
$ZHONGJI #TradFi #Hong Kong stocks
Dragged down by sentiment in overseas tech stocks, the price quickly fell during the early session, briefly touching 77.62 before heavy buying emerged below the 78 level to absorb selling. The 15-minute chart formed a clear long lower wick and then rebounded to around 80. This looks like the initial stage of bottom-finding after a sharp drop. Avoid chasing the price higher; wait for a second pullback to test the strength of support.
Key levels:
- Entry: 78.20–78.80 (the early-session zone of concentrated buying around the wick; wait for a stable 15-minute candle before entering in batches)
- Stop-loss: 76.80 (exit immediately if the price decisively breaks below the 77.62 wick low; strictly cap the trial position’s risk at 2.5%)
- Take-profit target: 81.60–82.50 (resistance at the platform from which the early-session gap-down began; take half off at this level to protect your capital)
If attempting a rebound from the left side of the chart, keep position sizes tightly controlled; exit decisively if support breaks. Do you think this long wick was a shakeout by major players, or the beginning of a catch-up decline in the computing-power chain?
$ZHONGJI #TradFi #Hong Kong stocks