I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Thursday, 12 July 2018
ZTE Expecting Further Upside
ZTE (763:HK), trading at HK$14.08, a company caught between US-China cross fire, saw heavy selling in mid-April 2018 after it violated US trade sanctions.
The stock traded sidewa ways for pass 2 months before it saw supply dried up after tested its low of HK$10.96 on 11 July 2018. Today we saw ZTE jumped above across the creek with higher than usual volumes. Thus, we have technical reasons to believe that demand is dominating with immediate upside target at HK$16.00, previous resistance.
Join us in our upcoming Wyckoff Course to learn more about reading market demand and supply with the Wyckoff Method.