Personally, I think keep far away from any China-related stocks for a while.
A quick look at the Shanghai SSE Composite and it looks eerily familiar to 2008 and 2000 Nasdaq. And any rally in the next few days would be a bull trap IMO. Far too much risk for a swing trade.
I think things will get far worse for China from here, thetr is still too many waiting to exit. We haven't even seen panic yet, maybe since they suspended trading in half the stocks on the SSE which is delaying the inevitable.
Good luck to any swing traders, but this is very risky now. I think cash is the best position to be in to wait and see where the dust settles.
FMG hot trade, page-7
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Last
$21.62 |
Change
-0.420(1.91%) |
Mkt cap ! $66.56B | |||
| Open | High | Low | Value | Volume |
| $21.61 | $21.78 | $21.48 | $190.2M | 8.611M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 15504 | $21.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.62 | 6560 | 1 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |