The Long Investor

$BIDU

Added 2024-04-19 19:05:23 +0000 UTC

Large Chinese Tech stocks have not shown yet that they are reversing while the US market is correcting but there is one very obvious difference:

Large US tech stocks have clearly reached their Wave 5 and new ATH's but large Chinese stocks are nowhere near their ATH's but approaching their ATL's.

So both are not, in any way synced together in the same trend.

The big question is whether they can break away from any correlation.

In terms of risk v reward, $BABA and $BIDU are low risk right now, downside is still possible but they are both undervalued fundamentally and technically....but now will be the time they need to respond.

If $BIDU breaks down from its wedge and the same goes for $BABA, they they can both test their 2022 low levels. $73 here for $BIDU.