Hang Seng Index Covid Improvements? 📈

Hello, good day traders! 👋🤙

I'm currently in a buy📈 setup for $Hang Seng Index(800000.HK)$ , with both fundamental and technical indicators to back it up.

📰Fundamentally,

Hong Kong stocks rise 3% in Asia session; China’s Covid situation remains in focus

Stocks in Hong Kong led gains in a mixed Asia-Pacific session on Tuesday after a negative start to the week with investors watching developments in the unrest over China’s Covid restrictions. Major U.S. indexes lost around 1.5% each.

Hong Kong’s Hang Seng index jumped 3.02% in early trade, with the Hang Seng Tech index rising 4.44%. In mainland China, the Shanghai Composite climbed 0.6% and the Shenzhen Component added 1.03%.

🤔On the technical front,

1.) Looking at the H4 chart, I have a bullish bias for HSI with price above the Ichimoku cloud. Looking for a buy entry at 18235.48, where the previous swing low was located.

2.) My stop loss will be at 16829.00, slightly above where the 23.6% Fibonacci line and -27.2% Fibonacci expansion line intersects.

3.) My take profit point will be at 19492.06, which is where the 61.8% Fibonacci line is located.

Trade Entry recommendations:

Buy Entry: 18235.48📈

Take Profit: 19492.06 💲

Stop Loss: 16829.00❌

‌

Other tickers to recommend:

For 5x Long Leverage: $HSI 5xLongSG230420(CWAW.SG)$

For 5x Short Leverage: $HSI 7xShortSG230920(CZBW.SG)$