A number of people have been asking about this chart and I can see a lot of chatter about it online too.
It is a Chinese Bull 3 X Leveraged ETF.
It has been massively suppressed for the last few years as the Chinese market has been pulling back and down at $15 now....from a high in 2018 at $1080.
The 50 Day MA on the weekly chart has been in full control here since Mid 2021, so I am not recommending this as a Buy until the 50 Day MA can be flipped to support and it is currently sitting at $33.
That being said, $15 right now is very appealing if you are strictly buying to only hold for long term and have a small exposure to this position.
mustafa
2024-02-06 10:04:04 +0000 UTC