Technical Pulse: Agricultural Bank of China Ltd (Bullish)


Agricultural Bank of China Ltd (HKEX: 1288) technical shows a strong potential bullish upside after a long period of ranging since 2019:


  1. The larger formation of the inverted head and shoulder indicate a potential bullish reversal.
  2. There is also a formation of a cup and handle formation which the handle is represented by the falling wedge. Also, the 2nd touch of the base of the wedge is also a dragonfly doji which clearly shows a bounce of the support zone.
  3. The ascending triangle has been broken already as the support zone was the previous resistance zone of the triangle.
  4. Volume shows a significant spike after a period of consolidative volume for the past 8 periods.


*Timeline of the trade is 8 weeks from the date issued.


We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
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