Technical Analysis of selected stocks (1D chart) - Sea, ICBC, Coupang, TSM & Tesla (as of 15May2022)
Before I start, let us not forget that we will need to qualify the business first through reviews of its fundamentals over a good period of time. Its recovery from the ongoing pandemic can give us assurance on the quality of the businesses and the durable competitive advantages that it owns. Let me look at the macro market as this will affect the technicals. S&P 500 1D chart as of 14 May 2022 In mid-March 2022, we identified a death cross (intersection of the Moving Average 50 & 200 lines where the MA 50 cuts MA 200 from above, a usually bearish indicator) using the 1D chart. From the technical indicators, the 1D chart of S&P 500 looks to be hitting the bottom soon. The Stochastic seems to have bottomed up and a reversal seems to be in place. The MACD indicator shows that the decline has yet to bottom up and there could be more room to go down. Till the reversal in MACD is completed, I prefer prudence and assume the decline could con...