Stock Analysis Update – CXSE $CXSE $TCEHY

Since my last update, CXSE has been continuing its ranging pattern.

Below is the daily chart of CXSE

I have added another popular indicator – the Parabolic SAR to guide in the TA during times when its not clear who is winning – Bulls or Bears. In this instance it appears we WERE in a downtrend the last few days. I will let the price action play out over the next few days to determine if its a start of an uptrend or continuation of the downtrend

If you look at the holdings of CXSE below

Tencent $TCEHY $700HK is the largest holding by far at 12.25% weightage. This means it has significant influence over how the ETF will play out in terms of price action as well.

If you look at the weekly chart of Tencent,

  1. it is currently at the 100 EMA level which is the same support as the COVID 19 crash of March 2020 !
  2. The next earnings call for Tencent is on 16 August 2021. I am expecting another great earnings result for Tencent despite the government interventions as the fundamentals of the business have not been affected.

In view of this, i am still bullish for CXSE over the mid to long term!

Please refer to my post on why CXSE is a great ETF to hold for geographical and sector rotational play.

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