Chinese Tech Looks Ready to Run 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Equity Clock.
The China Technology ETF (CQQQ) resolved higher from an inverse head-and-shoulders today, posting its second-strongest session of the year.
On a relative basis versus the S&P 500, CQQQ has cleared a multi-month downtrend line and reclaimed its 20-day moving average, signaling improving intermediate-term momentum.
With risk assets rallying around the globe, will Chinese Tech really be left behind?
The Takeaway: Chinese Technology stocks are attempting to rejoin the global bull market after being a significant laggard.
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