Accumulating more of 3067 ETF
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Looking a the weekly chart of 3067 ETF , we can see that it was down by more than 70% from its peak of 22 dollars in 22.02.21. Two years later, it has offered me a good buying opportunity.
If you see the components of this ETF, there are way too many companies that I personally would love to buy like BYD, Baidu, Tencents, Netease, etc. But, this would comes at a hefty capital costs and also dilute my diversification spread to other geography like US and SG.
Each of these companies excel in their own space of expertise and has very strong financials as well. Thus, this ETF solves all my problem and time as well.
Because my investment time horizon is long, the entry price is not as crucial as individual stocks. The first profit target is hit at 10 dollars and I do not expect it to slow down much this year as well. We should see the price action accelerate towards the 2nd profit target of 12.40.
Another important factor is also the currency exchange between SGD and HKD. Currently, 1 SGD will exchange for 6HKD compared to around 5.40 in 2020 when this fund was first launched.
Thus, if you have long term investment horizon for HKD or CNH, paying attention to the currency exchange and do the conversion at suitable time may yield you some savings in the longer run.
It is not hard to understand that for China to continue to grow and catch up on its lost GDP growth over the past years, it has to rely heavily on its tech sectors that is applicable in many industries from EV to agriculture, from retail to financial services. The CCP understand that US is constantly watching them closely and of late been resorting to all sorts of sanction measures to stop its own US companies from exporting parts to the benefits of China. Will it succeed ? Maybe partially but it is sufficient to let China not to rest on its own laurels and continue investing heavily on its research and developments, to accelerate on its digitalisation plans so that it can achieve its common prosperity goals promised to the people of China.
A quick glance of the ETF components also reveal another interesting facts. Many of these companies are not just big , they merely monopolised the entire market they represent like Alibaba, Tencents, BYD, etc. These Made in China brands will travel out of China market with the help of the government and it is in the latter interest to do so as well especially now that they are taking a stake in these private enterprises.
This is my personal take on this ETF so please DYODD if you are keen to go LONG.
If you see the components of this ETF, there are way too many companies that I personally would love to buy like BYD, Baidu, Tencents, Netease, etc. But, this would comes at a hefty capital costs and also dilute my diversification spread to other geography like US and SG.
Each of these companies excel in their own space of expertise and has very strong financials as well. Thus, this ETF solves all my problem and time as well.
Because my investment time horizon is long, the entry price is not as crucial as individual stocks. The first profit target is hit at 10 dollars and I do not expect it to slow down much this year as well. We should see the price action accelerate towards the 2nd profit target of 12.40.
Another important factor is also the currency exchange between SGD and HKD. Currently, 1 SGD will exchange for 6HKD compared to around 5.40 in 2020 when this fund was first launched.
Thus, if you have long term investment horizon for HKD or CNH, paying attention to the currency exchange and do the conversion at suitable time may yield you some savings in the longer run.
It is not hard to understand that for China to continue to grow and catch up on its lost GDP growth over the past years, it has to rely heavily on its tech sectors that is applicable in many industries from EV to agriculture, from retail to financial services. The CCP understand that US is constantly watching them closely and of late been resorting to all sorts of sanction measures to stop its own US companies from exporting parts to the benefits of China. Will it succeed ? Maybe partially but it is sufficient to let China not to rest on its own laurels and continue investing heavily on its research and developments, to accelerate on its digitalisation plans so that it can achieve its common prosperity goals promised to the people of China.
A quick glance of the ETF components also reveal another interesting facts. Many of these companies are not just big , they merely monopolised the entire market they represent like Alibaba, Tencents, BYD, etc. These Made in China brands will travel out of China market with the help of the government and it is in the latter interest to do so as well especially now that they are taking a stake in these private enterprises.
This is my personal take on this ETF so please DYODD if you are keen to go LONG.
Комментарий
How about falling to 7.87 price level to form an inverse H&S pattern? That would be a much more attractive price to go LONG.Комментарий
it went up too high yesterday, did not manage to get it. Will try today, hopefully it reverse a little for a better priceКомментарий
could this turns out to be a inverse H&S pattern ? We will see in the next few days. This would be a good accumulation point as well......Комментарий
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It may be premature to say but the chart now shows there is quite a strong support at 8.00Комментарий
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around 7.76 price level, this is the support zone. Hope it continues to hold and rally from here.Комментарий
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