Tech Stocks to Buy Now:-
Top Chinese Tech stocks are blind buy now as the stocks are trading at their long-term support levels. “BAT” Top 3 Chinese Internet stocks are showing signs of bullishness.
As the Stock Market shows some signs of weakness one can buy into these top 3 Chinese Internet Stocks for Long-term Investment.
KWEB Chinese Internet Stocks ETF:
KWEB (KraneShares CSI China Internet ETF) is a good pure-play on Chinese Internet software and service providers. It Tracks CSI Overseas China Internet Index As Underlying Index. The Majority Holdings of the KWEB ETF are Top 5 Chinese Internet Stocks.
42.40% of the KWEB ETF Constituents top 5 Chinese internet stocks. And It always reflects the performance of the Chinese top 3 technology stocks.
KWEB ETF Technical Analysis:
KWEB Chinese Internet stocks ETF is currently trading at its long-term support levels. $44 to $50 Levels has Multiple Support zones on the chart. And Currently, the ETF is after a drastic fall taking some breath at the support zone. If the Support zone holds out then we may expect a strong relief rally towards the all-time high.
China’s “BAT” Outperforms US’s “FAANG”:
China’s BAT Stocks have more bite than US’s FANG stocks. Shares in Baidu Inc.(BIDU), Alibaba Group Holding Ltd. (BABA) and Tencent Holdings Ltd. ( TCEHY) are up an average of 65.2% in 2017, more than doubling the performance of any permutation of the FANGs. Since any self-respecting club of tech stocks needs an acronym, commentators have taken to calling them the BATs.
— CNBC's Fast Money (@CNBCFastMoney) August 23, 2018
Alibaba Group Holdings ADR stock Technical Analysis:-
Alibaba stock is currently trading at a strong horizontal support zone of $164 to $169. So good bounce to the all-time high is on the way. If China’s internet giant BABA stock holds the support zone then it is an immediate buy.
If the BABA stock fails to hold the support zone then net support is placed at $120. So keep strict stop loss for this Chinese tech giant.
Baidu ADR Stock Technical Analysis:
Baidu Another Chinese tech giant is also painting the same picture. As the stock is currently trading at its trend line support level of $200. If the stock breaks the trendline support of $200 then $163 is possible on the downside. So keep $200 as stop-loss if the stock closes below that level. Exit your long position.
If the stock holds the support and bounces back we may expect another round of strong rally towards the all-time high. So one can buy this internet stock keeping stop-loss of $200 for a target of $259.
Tencent Holdings Ltd Stock Technical Analysis:-
Tencent Holdings ADR stock has strong Support zone of $37 to $41. If the stock holds the support zone then this internet stock is an immediate buy with a stop-loss of $37.
If the stock breaks down then next swing support levels for the stock is $28 and $24.
As the KWEB China’s internet stocks ETF and top 3 Chinese internet stocks are at its support levels. At support level, anything may happen either strong rally or deadly breakdown. So one must have to follow the support level if breaks exit immediately.