The cheerful trend has reappeared - Review from August 8-11
Although little Jaycus is still young, he has already experienced his first water baptism. After 20 minutes of trying, he regained the feeling of swimming.
The Hang Seng Index is still relatively stable for now, successfully holding above 24,800 points for three days, indicating temporary support. The best scenario is to continue to have support above 24,700 and then break through 25,000 again. However, this situation may require another three days or more of sideways movement before there is a chance to break through again; normally, there should be a fluctuation range between 24,500 and 25,000.
Meanwhile, the US stock market is once again challenging the top. Always remember that for the US stock market, any unconfirmed decline in a market that can sustain an upward trend may just be a normal pullback. Hastily setting up short positions can be very dangerous.
Recently, tech stocks have still been underperforming, especially $XIAOMI-W(1810.HK), because Xiaomi has been mentioned repeatedly before. Once it falls below the critical point of 55, it has basically broken through a major key point. In this situation, unless it successfully breaks through 55 again, it is likely to form a top pattern. If it falls below 50 again, the next level is directly to 45. $TENCENT(700.HK) has been hovering at a high level after successfully breaking through the key point. Theoretically, there is not much resistance between 560 and $BABA-W(9988.HK) must also stay above 120 for more than three consecutive days to confirm that a new upward trend is finally ready to appear. $MEITUAN(3690.HK) and $JD-SW(9618.HK) continue to be very weak among tech stocks, with no room for any deployment for now.
The lithium battery sector was very strong throughout the day, driven by the news of a production halt from the leader $CATL(3750.HK), leading to an explosive rise in the entire sector $GANFENGLITHIUM(1772.HK) $TIANQI LITHIUM(9696.HK); this was clearly mentioned in previous lectures to pay attention to the lithium industry, and not following up continuously was a mistake. Once these cyclical stocks start to rise, there is a high chance of a new cycle, which is very worth paying attention to. However, the short-term rise is too much, so we can only patiently wait for the real opportunity.
The IPO market remains strong, with $AB&B BIO-TECH-B(2627.HK) rising more than 100% in the dark market. It still opened high on the first day, and we will closely monitor the new stocks listed later; however, be careful of chasing too high at this position. The heat in the IPO market is still there, but whether you can get a good allocation really depends on the capital invested and luck.
$Palantir Tech(PLTR.US)'s performance continues to exceed expectations. Regrettably, I remember that when it was around $20, a good friend of mine lightly mentioned the absolute potential of this stock; at that time, I did not have enough understanding to grasp its potential and valuation.
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