China’s Hang Seng Index Rallies by 33%

The key narrative this week has been China providing stimulus to support its stock market and economy. There was news announced on two separate days, both of which led to strong rallies for Chinese stocks and the financial markets. The Hang Seng Index has rallied by 33% already, and could rally 60% more to reach previous all time highs. Chinese stocks are very undervalued, and the Hang Seng Index could form new all time highs over the next few years.

BABA Starts to Rally

BABA has started to rally from China’s stimulus, and is trending up towards a key resistance zone between $110.46 and $120.12. There is likely to be some profit taking at that zone, but BABA could rally back to new all time highs around $320 in the long term.

BIDU Could Rally to $340+

BIDU has formed a bullish rebound at an important support level around $83.39. Over the next few quarters and years BIDU could rally back to new all time highs. I have the light blue trendline as a key target around $340.

PDD Could Rally to New All Time Highs

PDD has started to rally and could trend up to new all time highs above $212.40. PDD has performed very well while most Chinese stocks have struggled. I think PDD could continue to outperform most Chinese stocks during this rally.

NIO Trading Near $5.72 Resistance

NIO is currently trading near resistance around $5.72, and would need to break through resistance to rally up to the $14.08 – $16.57 zone. I’m personally not too bullish on NIO, but there could be some upside for those who believe in the company. I have my doubts that the price can reach new all time highs above $66.74.

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