To The Moon

The Federal Reserve remained on hold for the sixth time, continuing to maintain interest rates at 5.25-5.50%, while also rejecting the possibility of further interest rate increases. 

Nonetheless, with inflation data still higher than expected, a high interest rate environment is likely to remain in place for some time to come. Global stock markets have experienced a violent rebound, especially Hong Kong stocks, which have surged by about 20% from the bottom in January this year, finally ushering in a long-lost bull market. U.S. stocks, which had technically turned negative before, also rebounded dramatically to levels before falling.

Today, let's look I to the technical charts of a few famous Chinese stocks.

BABA

BABA daily chart

Double bullish sign for Baba stock! Firstly, the share price broke out from the ascending triangular pattern last Thursday. At the same day, Baba stood back above its EMA200 trendline, which is a great sign of trend reversal. Moreover 78.67 HKD acts as a very strong resistance for the past half years and now it turns into a strong support. I believe with all this indicators, $Alibaba(09988)$  is very possible to go higher again.

PDD

PDD daily chart

PDD share price underwent correction for almost half years since the big gap up by end of November last year. As we can observe, the share price touched 2 times onto the EMA200 support and rebounded well. And this round, PDD formed a higher low pattern which represent a bullish pattern continuation in its share price. For such, I am $Pinduoduo Inc.(PDD)$ .

TSM

TSM daily chart

TSM! A very good tech stock to be in your watchlist oo holdings. The share price broke below EMA50 which represented a potential trend reversal for mid term but TSM managed to rebound strong after its earnings release and eventually avoided the death cross between EMA25 and EMA50. With the positive sentiment in semiconductor sector and given that the share price stands well above EMA10 now, I believe $Taiwan Semiconductor Manufacturing(TSM)$  will continue to be bullish next week.

JD

JD daily chart

How about JD, one of the PDD rivals. Similar to BABA trend, the stock stayed bearish and under the EMA200 trendline for years. And the good news is the recent rebound of Chinese stocks sends JD back to above EMA200 trendline. This is a confirmation sign for the trend reversal in JD share price. We should expect the formation of higher lows and bullish continuation pattern for $JD.com(JD)$ .

LI Auto

LI daily chart

Last but not least, let's end with the EV maker, LI Auto. For Li, we could see some strong rebound last week but the share price remains well below the EMA200. Also, the company is going to release its earnings next Wednesday. The result should not be awesome, but it is expected due to the slow momentum in EV market. Anyway, I am pessimistic for $LI AUTO-W(02015)$  next week as there's a risk of earnings result and also I will remain my bearish view as long as the share price remains below EMA200 trendline.

Summary

As most of us are aware of, Chinese stocks have gained momentum as market players scurry to avoid missing rallies driven by supportive policies while cautioning that the upswing does not yet reflect a return of long-term investors.

A series of measures announced since mid-April to support the mainland and Hong Kong stock markets are playing a key role.

@TigerStars  @Tiger_comments  @CaptainTiger  @MillionaireTiger  @Daily_Discussion  @TigerGPT