The Hang Seng Tech Index has slipped beneath a crucial support line that suggests more selloffs ahead given geopolitical tensions and lingering earnings worries.
The gauge that tracks China’s biggest technology companies is down 25% from an October high, and has fallen below the neckline of a classic head-and-shoulders technical trading pattern — widely regarded as a warning of further drops. Once the neckline is breached, it implies that sellers have gained the upper hand, raising the risk of further declines.
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