ZHIPU $ZHIPU pullback point after reaching 64.5
After dipping to 58 in the morning session, it quickly turned bullish and surged higher, touching a high of 64.5. It is now consolidating around 61.5 with reduced volume on the 15-minute and 1-hour timeframes.
Focus on the 60.8~61.2 breakout neckline support:
- As long as it stays in a low-volume consolidation above 60.5, this is a healthy pullback after a breakout; consider opening long positions in batches in the 61.0~61.5 range to bet on a second surge;
- Set a hard stop-loss below the 60.0 round-number level (a valid break below indicates exhaustion of bullish momentum; admit the mistake and exit decisively);
- For upside resistance, first look at 62.8~63.5, and if broken, then target the previous high of 64.5 as the ultimate target.
If the rally is too sharp, avoid blindly chasing higher prices. It is safer to wait for a low-volume pullback to key support and confirmation of stabilization before entering. After the pullback is in place, would you choose to try long on dips or short on a rebound?
Summary:
ZHIPU pulled back to 61.5 after touching 64.5. Key support at 60.8-61.2, stop-loss below 60.0, targets 62.8/64.5.
$ZHIPU #TradFi #Hong Kong stocks
After dipping to 58 in the morning session, it quickly turned bullish and surged higher, touching a high of 64.5. It is now consolidating around 61.5 with reduced volume on the 15-minute and 1-hour timeframes.
Focus on the 60.8~61.2 breakout neckline support:
- As long as it stays in a low-volume consolidation above 60.5, this is a healthy pullback after a breakout; consider opening long positions in batches in the 61.0~61.5 range to bet on a second surge;
- Set a hard stop-loss below the 60.0 round-number level (a valid break below indicates exhaustion of bullish momentum; admit the mistake and exit decisively);
- For upside resistance, first look at 62.8~63.5, and if broken, then target the previous high of 64.5 as the ultimate target.
If the rally is too sharp, avoid blindly chasing higher prices. It is safer to wait for a low-volume pullback to key support and confirmation of stabilization before entering. After the pullback is in place, would you choose to try long on dips or short on a rebound?
Summary:
ZHIPU pulled back to 61.5 after touching 64.5. Key support at 60.8-61.2, stop-loss below 60.0, targets 62.8/64.5.
$ZHIPU #TradFi #Hong Kong stocks