HKEX (388.HK) – Looking Good For More Upside

21st June, 2022, 6:08 PM

HKEX (388.HK) – Looking Good For More UpsideHKEX 21st june 2022

As we previously mentioned, Hong Kong markets are looking good and it might continue to outperform the other markets this year.

One particular counter has caught our eyes as it has just broken out of consolidation. There was an increased in volume today and breaking the horizontal resistance we might see more upside in the coming days. The hong kong exchange or HKEX looks like there might be more upside to come.

$375 then $392 are our first two upside targets with immediate support at the 20ema of around $348. Looking at  a bullish move up!



Kelwin & Roy

HKEX (388.HK) – [Is The Sell Off Over?]

17th March, 2021, 7:15 AM

HKEX (388.HK) – [Is The Sell Off Over?] HKEX(388.HK) 17th March 2021

Chart Source: Poemsview 17th March 2021

The Hong Kong Stock Exchange is the exchange base in Hong Kong and its the world’s largest bourse in terms of market capitalization surpassing Chicago-based CME. As of end 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is also one of the fastest growing stock exchanges in Asia.

This stock exchange is owned by the Hong Kong Exchanges and Clearing Limited ( The Hong Kong Government is the single largest shareholder in HKEX, and has the right to appoint six of the thirteen directors to the board.

Just a while back Hong Kong’s government increased its stamp duty on equity transactions on the city’s stock exchange for the first time in almost three decades which caused a knee jerk reaction despite posting three straight years of record profit.

Now, is the selling done? Has the selling been a bit too much?

Lets take a look from a technical perspective. 

HKSE(388.HK) has corrected about 26% from its peak and its a healthy correction to us. It has found some support at around HK$437 and its starting to build a base around there. The 5ema is current its immediate resistance . It tried to break that yesterday but didn’t managed to. A break above that might see a test to the 10eam then the 20ema of around $476. For long term investors, this might present a good opportunity to scale in at this level. The next support we might see is around $415 if the horizontal support doesn’t hold. The mid term upside target might be $508.

Will update more as time goes by. We’re bullish on HKSE in the longer run and such a fall present us with a good chance to scale in.