Wang’s Happy Trading

Most of the Chinese ADRs have come down with the U.S. market since mid July. But, last week, in one week, many of them took it all back. FXI is at a new all-time high, jumping more than +23.9 points, or more than +29%, since the last Thursday’s low!!

FXI

FXI set a new all-time high of $144.19 on Friday and has recaptured its daily upper BB. Its MACD is also rising. It looks poised to go higher!

Many of the Chinese stocks have also recovered fully from last month’s correction. ACH jumped +11.57% on a Friday and set a new all-time high of $54.29. CHL went up +4.19% and set its new all-time high at $64.07. LFC gained +6.18% and recorded a new all-time high at $67.26! The list goes on…

There are 3 Chinese stocks that caught my eye, which have recovered last week also, but, not as much as some of the others.

BIDU

BIDU closed flat on Friday, but, it has already risen above its daily MAs. Given its fantastic earnings last quarter, BIDU could be ready to go up more from here!

PTR

PTR, China’s biggest oil conglomerate, rose almost +4 points on Friday. But, it is still some distance away from its July high of $160.41! CEO has already recovered most of what it lost during the recent correction. SNP just reported a +36% rise in its Q2 earnings on Sunday evening. PTR itself reported nice earnings last week and gave upbeat guidance on the future quarter. I think PTR has some catching up to do!

CTRP

CTRP has cleared its daily MAs and the daily upper BB is already opening up, hinting for more upwards movements. Its American peers, PCLN and EXPE, are all at their all-time highs! It could be time for CTRP to charge back up!

HappyTrading! ™