Dear readers, currently some of the biggest China stocks are trading in a consolidation pattern and having trended down recently. The reason? The uncertainty of the US-China trade tensions. The cancelling of the meeting by Chile where US and China will meet to resolve and discuss trade has simply added more elements of uncertainty to the already complex US-China trade tensions.
But recently, US President Donald Trump still commented that he and China Leader Xi Jin Ping should be able to come to some conclusion about the US-China deals. I viewed Donald Trump’s comment as positive and even without President Trump’s comment, I would think that there will be a rosy outcome to the trade wars between US and China as a prolonged trade war is simply no good for either parties.
With this in mind, I believe China stocks, by and large will rise with the perceived positive outcome of the US-China trade talks. One of the China’s stocks which I like JD.com should be able to benefit from a positive trade talks between the world’s two giants. However, I would like to note one technical setup before the bullishness of JD.com stock is confirmed.
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