Hang Seng Tech ETF (HKEX: 3067) will see a rise to the upside after technicals indicate a potential accumulation signs between August and October period:   

1. Double bottom formation has been spotted after breaking out of the falling wedge in early September 2021.
2. Inverted head and shoulder formation has formed within the double bottom and Tuesday’s bullish candle shows strong possibility of breaking HK$14.00 neckline resistance.
3. MACD has crossed, which shows a strong initial bullish upside probability.

*Expected timeline of the trade is 12 weeks from the date of report issuance.

CHART LEGEND

MACD

Red line = Signal line

Blue line = MACD line

Blue bar = MACD Histogram