China Construction Bank – Market cap: $216.53 Billion USD
Friends, I welcome you all once again to your own blog. Like every time, we bring you new things in the blog to learn from. Here you do not understand how you can perform in the market with any tips. You always have to keep one thing in mind in life that if you want to perform in the market. Then you should have more understanding and you do not need to search for tips.
So today’s chart is simple, which is related to China Construction Bank. So we have to understand the chart analysis of China Construction Bank. If we look at the chart, we will see one thing that if we analyze it daily. Back in 2018, there was a certain level here from where the downfall in the market started.
China Construction Bank Important Levels:
Now why the same level of 2018 are in concern, we will also have to understand things. And for us this resistance is valuable even today and the supports related to it are available for today. We will also try to understand this in it.
The sweet range was between 9.3 to 9.8. The market spent a lot of time in that range. It spent a long time in 2018. After that, it falls from there. When the market hits particular levels and breaks them, after that till date the market has not come to a certain level. This is something which is very important to understand.
Definitely, it has given a lot of dividends in issues and has had a lot of good results, but it has never been able to reach where it was earlier. So the important thing is that it has recently found resistance around 9.3, but it has not been able to give a high closing or a better closing there.
Now, if we talk about the nearby supports, then the good supports are around 8.48 and you will find around 8.80. The market can spend some time on these supports and can take a very good stand. And even below that, if you see the market more, then it can be around 7.85.
Chart Factors in mind:
You can see why I am saying this if you see the daily chart then on the daily chart, it has made its low and high at certain levels in the market i.e. around 8.5 and around 8.8 it has made high so it has spent a lot of time between low and high and you can see the market has comfortably given three-four months there, after that it has come up by breaking that level in the market, so the important thing is that it will definitely become an important support and it will become an important support so if there is an upside move in the market then you will see that upside move going up respecting these levels.
Let’s talk about the upside target, so as I told you that right now 9.3 is very important so that can be the first target, 9.8 which is the second important level can be the second target and if the market moves towards making an all time high and moves up then it will take us up to 10.3
It can show targets on the higher side. I hope that this blog that I have told you about will be very valuable to you and perhaps you will learn from all these things which may not give you any tips, it can give you a learning and that learning will happen in this way.
Are you reading daily blogs? Understand things and keep making things easy. Thank you so much for having your eye on this and I hope that things get better in the future and you people do very good trade in paper trading. If you have confidence in paper trading, then after that you should focus on real trade along with learning.
You can also check the certain charts at: ICBC
Our YouTube Channel link : Price Action Tourist