Daily BriefsTechnical Analysis

Daily Brief Technical Analysis: China Resources Beer Holdings (291 HK) – ST Technical Triggers Imply 8.5% Tactical Opportunity and more

In today’s briefing:

  • China Resources Beer Holdings (291 HK) – ST Technical Triggers Imply 8.5% Tactical Opportunity

China Resources Beer Holdings (291 HK) – ST Technical Triggers Imply 8.5% Tactical Opportunity

By David Coloretti, CMT

  • At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
  • Bullish price action and LT momentum failure in Oct/Nov 2023 could be compared to holding a fully inflated balloon under water. Eventually it must rise. 
  • January 2023 delivered that spike and a recent correction and multi-day test of key support has delivered an impulsive positive price response today. Target an 8.5% tactical upswing towards 63.90.

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