In today’s briefing:
- Where to Sell Hong Kong
- Silvergate Capital Corp (SI US): TSS Target Achieved in 3 Days (+10.69%)
Where to Sell Hong Kong
- Our long in H shares is looking stretched and we need to fine tune an exit strategy with counter balance pivots. HSI is the short on strength at trendline.
- A50 13,400 intermediate resistance stands out to cap near term strength and USD/CNH 9.0/01 is our USD buy support that aligns with an A50 top.
- Consensus is now bullish China (wrinkles to work through) as we face a more uncertain global cycle in Q1. HSI faces wedge and trendline resistance!
Silvergate Capital Corp (SI US): TSS Target Achieved in 3 Days (+10.69%)
- On 6 December we determined that a new interim downtrend low below 23.20 would likely fail and produce a 10% to 20% correction in 1-2 weeks.
- SI US subsequently bottomed at 21.32 and produced a 10.69% gain in the following 3 days to a high of 23.60.
- Note that this result was at the lower end of our expectations, however we must acknowledge a positive result. Gains were quickly given up in the following session however.
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