Technical Pulse: Kingsoft Corp Ltd October 21, 2021 280


Kingsoft Corp (HKEX: 3888) will see a rise to the upside after technicals indicate a potential accumulation signs between September and October period:   


  1. Triple bottom formation has been confirmed after prices broke out of the triple bottom neckline resistance turned support at HK$33.22. Furthermore, the candles on Wednesday gaps above the upper resistance slope of the falling wedge.
  2. Ichimoku shows two out of three golden cross signal after prices trends above the Tenkan and Kijun-Sen crosses and lagging span has risen above the candles. Above all, Senkou-Span A can be seen sloping up aggressively.
  3. MACD is edging above the zero line, which shows a strong initial bullish upside probability.


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




Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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