{"id":24354,"date":"2023-01-17T09:48:14","date_gmt":"2023-01-17T09:48:14","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/is-chinese-tech-crackdown-over\/"},"modified":"2023-07-12T19:05:43","modified_gmt":"2023-07-12T19:05:43","slug":"is-chinese-tech-crackdown-over","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/th\/is-chinese-tech-crackdown-over\/","title":{"rendered":"Is Chinese Tech Crackdown Over?"},"content":{"rendered":"\n<p>Good morning Traders!<\/p>\n\n\n\n<p>Hopes that the <a href=\"https:\/\/www.reuters.com\/technology\/alibaba-stock-set-open-up-55-amid-hopes-regulatory-crackdown-is-ending-2023-07-10\/\">Chinese<\/a> government crackdown on its Tech industry are coming to an<br>end, has fuelled a rally in many of China\u2019s big tech.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Tencent<\/h2>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7916\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Tencent-D-1-scaled.jpg\" alt=\"\" class=\"wp-image-7916\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7915\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Tencent-M-scaled.jpg\" alt=\"\" class=\"wp-image-7915\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7921\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Tencent-W-1-scaled.jpg\" alt=\"\" class=\"wp-image-7921\"\/><\/figure>\n<\/figure>\n\n\n\n<p>Tencent share price, has almost doubled in value since the low made in October 2022<br>when it pierced the 200 mark.<\/p>\n\n\n\n<p>On the <a href=\"https:\/\/www.fxglobe.com\/the-incredible-impact-of-small-daily-profits-achieving-100-annual-returns-2\/\" data-type=\"post\" data-id=\"31291\">daily chart the market<\/a> is now in an uptrend, however, this new Daily uptrend, can<br>currently also be seen as a pullback in the context of the Monthly chart which is still in a<br>confirmed downtrend. On the Weekly chart, the market has broke the downtrend when it<br>traded passed the previous swing Lower High, but has yet to confirm an uptrend. I\u2019ll be<br>closely watching the level of 400, where as well as being a psychological round number<br>level, it also has proven to be a strong S\/R level with many touches in the past.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Alibaba<\/h2>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-2 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7926\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Alibaba-M-scaled.jpg\" alt=\"\" class=\"wp-image-7926\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7931\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Alibaba-W-scaled.jpg\" alt=\"\" class=\"wp-image-7931\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7933\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Alibaba-D-scaled.jpg\" alt=\"\" class=\"wp-image-7933\"\/><\/figure>\n<\/figure>\n\n\n\n<p>Alibaba has also risen sharply from the lows it made in October 2022 around the 58 mark,<br>and it\u2019s currently trading around the 118 mark.<\/p>\n\n\n\n<p>Here too, the Daily chart is in an uptrend, and the <a href=\"https:\/\/www.fxglobe.com\/gbpjpy-reversal\/\" data-type=\"post\" data-id=\"29833\">Monthly chart<\/a> in a downtrend. However<br>in this chart, if the level of 128 will be taken, then the Monthly chart will no longer be in a<br>confirm downtrend, with the 138 next in sight.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Baidu<\/h2>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-3 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7941\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Baidu-D-scaled.jpg\" alt=\"\" class=\"wp-image-7941\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7951\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Baidu-M-scaled.jpg\" alt=\"\" class=\"wp-image-7951\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"7946\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/Baidu-W-scaled.jpg\" alt=\"\" class=\"wp-image-7946\"\/><\/figure>\n<\/figure>\n\n\n\n<p>Baidu shares also experienced similar moves, raising from the lows of around 74 printed<br>in October 2022 to currently trading around 140.<\/p>\n\n\n\n<p>It\u2019s a similar scenario here as well, however, the Monthly swing Lower High which is also<br>the previously tested level of S\/R around the 160 mark, is further away from the current<br>price.<\/p>\n\n\n\n<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning Traders! Hopes that the Chinese government [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Chinese Tech Crackdown: Update | %%sitetitle%%","_seopress_titles_desc":"Get the latest insights on the Chinese tech crackdown and its impact on traders. Find out if the crackdown is over and what it means for your investments.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-24354","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts\/24354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/comments?post=24354"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/posts\/24354\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/media?parent=24354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/categories?post=24354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/th\/wp-json\/wp\/v2\/tags?post=24354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}