Chinese education stocks looked like a good investment theme a few days ago. With today’s market action though I would certainly hold back buying in at the moment. Compared to CEU – China Education Alliance, CAST – China Cast Education is the more liquid stock and from a technical perspective looks somewhat stronger. If China wants to move ahead it will probably need to open up more and gradually grant its citizens more opportunities. Throughout the world access to education is considered to be the key to being able to move up the social ladder. In the long run the Chinese educational stocks is a sector you certainly want to keep an eye on as more and more Chinese will want to attain middle class status.
The market looks vulnerable right now. STEC although unrelated to tonight’s topic is a stock I have labeled a ‘good gauge’ in order to judge the market’s strength. STEC’s chart has literally been killed over the course of the last few trading sessions. There are thousands of ways to gauge market strength. Watching how leading stocks act is only one of them. So for the sake of brevity I’ll leave it at that. Apart from BXI.V – Bio Extraction, VEN.TO – Ventana Gold and WEE.V – Wavefront Energy almost all stocks pulled back today.
Let’s see how those patterns evolve. Especially CAST looks like a bullish outcome is to be expected. No need to rush things though. I am going to wait for the patterns to build immediate pressure before I consider buying.
Always up-to-date CAST Chart on my public list.
Always up-to-date CEU Chart on my public list.
Have a great evening!
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