It’s been over 15 years since China’s equity market was in a long-term bullish position.
Now, don’t get me wrong. There have been plenty of medium-term trends to trade and make money, but the long-term chart for the major China ETF (NYSE:FXI) has traded sideways since the 2009 low.
So where are we now?
Today we look at the “monthly” chart of FXI to provide an update.
As you can see, FXI has traded in a 15-year price channel (as well as a 10-year intra-channel). As we near the end of the month, FXI is attempting to create a bullish reversal pattern of the financial crisis and covid lows at (1).
Could a triple bottom be taking place in this out-of-favor country? China Bulls sure hope so. Stay tuned!
Which stock to consider in your next trade?
AI computing powers are changing the Canadian stock market. Investing.com’s ProPicks AI are winning stock portfolios chosen by our advanced AI for Canada, the US, and other exciting markets around the globe. Our top strategy, Tech Titans, nearly doubled the S&P 500 in 2024 - one of the most bullish years in history. And Beat the TSX, designed for broad market exposure, is showing +878% gains with 10 years’ back-tested performance. Which Canadian stock will be the next to soar?
Unlock ProPicks AI