I raised some more cash today in front of the potential Fed fireworks this afternoon. But I am still long IBKR, as posted here earlier this week.
Looking at other charts in the online investment brokerage sector, you can see the daily chart of AMTD sporting a textbook bullish ascending triangle, of a flat top of highs along with higher lows. The presumption is that the pressure being built up favors the buyers here as sellers diminish.
Nonetheless, no trigger, no trade. I am looking for a move up through $24 with strong volume to probably see me enter on the long side.
Let’s see how the group acts after the taper/no-taper debate is resolved.
I also would not be surprised to see M&A in the sector this year.
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