Quite a Few Chinese ADRs Are Setting Up for Potential Breakouts
by Ivaylo Hoffman, Ivanhoff Capital
2016 has been the year of mean reversions so far. Basic materials (steel), precious metals (gold and silver miners), oil & gas stocks, highly shorted industry like 3D printing have been the leaders. High growth names have been lagging for the most part. China is also recovering from a tough 50% correction since its 2015 highs. This week, I am seeing quite a few Chinese tech and services stocks to set up for potential breakouts. Some of them (education svs stocks like EDU and XRS) are already breaking out. Maybe, this is where next market rotation will head. Take a look:
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