CSOP HSI Daily -2X Inverse ETF is poised to extend its upside movement, testing the consolidation zone resistance.
The ETF has been moving sideways below the HKD5.70 resistance.
In the event it breaks past this resistance, expect a "higher high" price action to test the next resistance at HKD6.36, followed by HKD6.93.
On the flipside, breaching the HKD5 support would resume the downward movement.
Kuaishou Technology is in the midst of correction and eyeing to stage a technical rebound.
The counter has been trending downwards since it crossed below the 21-day SMA line.
They observed the trading volume is subsiding, showing the selling pressure is decreasing.
In the event the counter climbs above the HKD43.70 resistance, it may rebound towards HKD46.
Meanwhile, should the negative price action follow through, it may pull back and test the next support at HKD41, followed by HKD39.