Four Directors at Shenzhen Kangtai Biological Products Co Ltd bought 173,600 shares at between 36.660CNY and 37.140CNY. The significance rating of the trade was 96/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all t...
emain Overweight EM vs. EAFE The MSCI EM index (local currency) has continued to outperform relative to the MSCI EAFE index while the US dollar (DXY) forms a tight consolidation pattern. As a result we continue to favor EM over EAFE; and if EM is going to continue to outperform we would expect to see a breakdown below 98.50 support on the DXY. Like many global indexes, the MSCI EM index remains below resistance from a price perspective. Short-term levels we are watching include resistance at...
Global Rally Losing Upside Momentum The global rally appears to be losing steam as the bearish rising wedge patterns we highlighted last week in the MSCI ACWI, ACWI ex-US, EM, and EAFE indexes ended up breaking down. Additionally, the aforementioned indexes and major indexes in Europe, Japan, and Hong Kong have been unable to break above longer-term resistance. While we believe global equities remain vulnerable to a pullback, some near-term consolidation is another possibility. For now we belie...
Initial Low Established Several equity indexes and indicators we watch are telling us an initial primary low has been established for global equities (ACWI-US). At the same time, after this type of major waterfall decline there is often a test of this initial low - and oftentimes we get an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 we are of the belief that we will get an eventual test of this initial low and potentially an undercut. Below we provide upda...
EM Outperforming; Favor EM over EAFE With many global markets crumbling last week, one might assume that EM would have underperformed -- but that is not what transpired. What we saw was a decline in the US dollar which, along with improving coronavirus metrics in China, led to EM outperformance. Reiterating our 12/20/19 EM Strategy, we continue to believe EM is a better place to be than EAFE, supported by new highs in the EM vs. EAFE ratio and our ongoing belief that the US dollar is likely not...
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