Chinese Tech Stocks Soar 50% – Here's How We Predicted It
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Mark Galashevsky explains how Elliott Wave analysis identified a major advance in Mainland Chinese Infotech stocks, which have risen over 50% since October 2022 lows. He highlights the CSI 300 Information Technology Index as a key indicator for future moves in Chinese tech stocks.
Chapters
[00:00]
Mainland Chinese Infotech stocks surge
Mainland Chinese Infotech stocks have soared more than 50% since the October 2022 lows.
[00:13]
Early identification of the rally
The publications identified the potential for a major advance early in the rally, using Elliott Wave analysis.
[00:26]
Classic ABC correction completed
In early November, the CSI 300 Information Technology Index had traced out a classic ABC correction, with Wave C down showing five sub-waves complete.
[00:42]
Index outperforms overseas-listed stocks
The index has soared, powering ahead even as overseas-listed Chinese Internet stocks have pulled back, making it a key watch for clues to the next major move.
[00:55]
Long-term wave pattern reference
For details on how the nearly two-year ABC decline fits into the index's long-term wave pattern, see the April 2023 issue of Asian Pacific Financial Forecast or Global Market Perspective.
The CSI 300 Information Technology Index is a critical barometer for Chinese tech stocks, and Elliott Wave analysis provided an early signal for the current rally. Investors should monitor this index for clues to the next major move.
Mentioned in this Video
💡 Key Takeaways
🔧
Early identification of the rally
Demonstrates the practical application of Elliott Wave analysis in forecasting market moves.
00:13
📊
Classic ABC correction completed
Provides a concrete example of a technical pattern that signals a potential trend reversal.
00:26
💡
Index outperforms overseas-listed stocks
Highlights a divergence that could offer unique investment opportunities.
00:42Full Transcript
[00:00] Hey investors, Mark Galashevsky here. Mainland Chinese Infotech stocks have soared more than 50% since the October 2022 lows.
[00:13] Our publications identified the potential for a major advance early in the rally. Let me show you how we did it. In early November, the CSI 300 Information Technology Index had traced out a classic ABC correction,
[00:26] with Wave C down clearly showing its five sub-waves complete. So our publications forecasted a major advance immediately ahead. And since then, the index has soared, powering ahead in recent weeks, even as overseas-listed Chinese Internet stocks have pulled back.
[00:42] That makes the CSI 300 Information Technology Index one to watch for clues to the next major move in Chinese tech stocks. To see how this nearly two-year ABC decline fits into the index's long-term wave pattern,
[00:55] see the April 2023 issue of Asian Pacific Financial Forecast or Global Market Perspective.
