China Hongqiao Group Technical Analysis

 

✅ 1. Monthly Chart (Left Panel)

• Price Trend: Long-term uptrend with consecutive bullish candles over recent months, showing strong buying momentum.
• Bollinger Bands: Price is near the upper band, trading above the midline – a bullish signal suggesting potential continuation.
• Comparison with SPY (orange line): While SPY showed weakness recently, 1378 continued its upward trend, indicating decoupling and sector strength.

📌 Interpretation: The long-term structure supports continued upside, possibly driven by strong fundamentals in aluminum demand or industrial trends.

 

✅ 2. Daily Chart (Top Right)

• Breakout Attempt: Price is testing resistance around 16 HKD multiple times. A confirmed breakout above ~16.5 HKD could trigger strong momentum.
• MACD: Golden cross observed. Histogram is positive and expanding — bullish momentum is strengthening.
• Volume: Noticeable increase in volume over recent days, confirming buyer interest.

📌 Interpretation: Short-term trend is bullish. Watch for a breakout above 16.5 HKD as a signal for trend continuation.

 

✅ 3. 15-Minute Chart (Bottom Right)

• GMMA (Multiple EMA): Short-term EMAs are crossing above mid/long-term EMAs and spreading upward – a clear short-term uptrend.
• Volume: Spike in volume suggests active intraday buying.

📌 Interpretation: Strong intraday bullish structure. Pullbacks to the 16.00–16.05 range may offer scalp or day-trading opportunities.

 

🔎 Summary Table

 

Overall Trend	Bullish across all timeframes
Resistance	16.50 – 17.00 HKD
Support	15.00 – 15.60 HKD
Buy Strategy	Buy on dips toward 15.80–16.00 HKD
Risk Factors	Global aluminum price fluctuations, market risk if SPY weakens

 

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