April 15 [Hong Kong Stock Podcast] Part-2-JD.com, RemeGen, HSBC

1. After a strong short-term breakout, JD.com is approaching medium-term resistance, with the breakeven point at 135 yuan not yet reached. However, at this stage, the rebound has evolved into a stronger upward trend.

JD.com is currently trading at 120.70 yuan, with an intraday high of 124.30 yuan and a low of 120.50 yuan, showing significant daily gains. The price action has recovered from earlier lows and developed into a stronger upward correction pattern. From a daily chart perspective, the stock previously tested near 91.99 yuan before gradually stabilizing. Recently, it has consecutively reclaimed the 5-day, 10-day, 20-day, 30-day, and 60-day moving averages, indicating that both short- and medium-term sentiment have significantly improved. The stock price has now also broken above the 120-day moving average around 110.44 yuan, signaling this is no longer just a regular technical rebound but a clear sign of strengthening momentum.

However, despite the obvious improvement in trend, there are still pressures at this stage. The most important resistance levels are now near 124.30 yuan, as well as the 125 to 128 yuan range further above; beyond that lies the 135 yuan level that investors are watching. Regarding the Bollinger Bands, the middle band around 109.37 yuan has been clearly reclaimed, while the price has now surged above the upper band at approximately 117.49 yuan, reflecting a strong short-term trend but also suggesting that the rally has become somewhat overheated. The RSI has risen close to 90, indicating overbought conditions, which implies strong momentum but also suggests potential volatility at higher levels. Immediate support is seen at 118.80 yuan, followed by 115 to 112.80 yuan; resistance levels are first at 124.30 yuan, then 125 to 128 yuan. If these are breached, the next target would be 135 yuan. The key turning point now is whether the price can hold above 118.80 yuan and transform 124.30 yuan into a sustainable breakout level.

For investors asking whether they should sell now since their breakeven point is at 135 yuan, the core issue isn't about immediately exiting the position or stubbornly waiting to break even. Instead, it's essential to understand the nature of the current upward movement. Based on the technical picture, JD.com doesn’t resemble a typical weak rebound followed by another decline. Instead, the structure has clearly improved, and there is room for further upside in the short term. Therefore, if one exits completely near 120 yuan simply because the price hasn't reached 135 yuan, it may not be the most ideal timing. However, it must also be acknowledged that the stock has surged quite rapidly, with the RSI being overbought. There’s still some distance to 135 yuan, and intermediate resistances like 124.30 yuan and 125 to 128 yuan need to be overcome. Thus, investors with heavy positions or those who have held on for a long time might consider reducing their holdings partially at these levels and keeping some exposure to observe whether the price can advance toward 125 to 128 yuan. This approach would be more reasonable than solely relying on whether one has recouped losses to make decisions.

As for investors holding call warrants with a strike price of 126.98 yuan, this strike price falls within the range slightly above the current level, theoretically offering better chances to benefit from further upward movements in the underlying stock compared to deeply out-of-the-money call warrants. The challenge is that although the underlying stock remains strong, it has entered an overheated zone in the short term. If it can successfully break through 124.30 yuan and push toward the 125 to 128 yuan range, these call warrants could still see upside potential. However, if the stock starts consolidating or pulls back, the warrant performance might not fully align with the stock’s rise due to noticeable time decay. Hence, these call warrants are currently more suited for observing whether the underlying stock can continue its breakout momentum rather than being held based purely on optimistic expectations for 135 yuan.

Overall, JD.com’s trend has clearly strengthened, and technically it is well-positioned to continue challenging higher levels. However, due to the rapid pace of its rise, risks of volatility have increased in the short term. For investors who need 135 yuan to break even, this may not be the worst exit point, nor should they take no action just because they haven’t broken even. A more practical approach is to first see if the stock can stabilize above 118.80 yuan and then further break through 124.30 yuan. If successful, it will set the stage for gradual progression towards 128 yuan or even higher levels. If the breakout fails and retreats, one should beware that this strong upward movement could enter a consolidation phase.

2. After a strong breakout, RemeGen has hit another new high for the wave, as sentiment in the innovative drug sector heats up. However, the 149-yuan level remains a later-stage target, with immediate focus on whether prices can stabilize between 118 to 120 yuan.

Rongchang Bio is currently trading at 118.30 yuan, with an intraday high of 119.10 yuan and a low of 108.40 yuan, showing noticeable daily gains. In terms of daily trends, this represents an acceleration phase within a medium-term uptrend. Structurally, the stock had previously tested near 69.70 yuan before gradually building a bottom and recovering upwards in a higher-high pattern. More recently, it has consistently stabilized above the 5-day, 10-day, 20-day, 30-day, 60-day, 120-day, and 250-day moving averages, reflecting a clear strengthening in both short- and medium-term trends. With the price now approaching previous highs, this move is no longer a simple rebound but a very clear strong upward trend.

However, though the trend is very strong, it is now entering an extended high-level zone, and chasing gains cannot ignore the risk of volatility. In terms of Bollinger Bands, the middle band is around 100.09 yuan, and the stock price has now risen near the upper band at about 118.89 yuan, indicating dominant short-term buying, but also showing that the share price is close to the top of the channel. Without continued capital inflow, high-level fluctuations could easily occur. The RSI has risen above 70, signaling a strong but overbought condition, meaning momentum remains, but the rhythm has shifted from steady growth to being more aggressive. Immediate support lies at 114.50 yuan to 110 yuan, followed by around 106 yuan; resistance is first seen at 119.10 yuan, then around 124 yuan. If these levels are broken, the stock will have the conditions to advance to higher zones. The key watershed at this stage is whether the 118 to 120 yuan range can transform from resistance to a stable area.

Investors leaning towards optimism, believing that the innovative drug sector is poised for another round of activity, aren't doing so without basis. Rongchang Bio’s chart has indeed shown a clear strengthening, and recently it has exhibited accelerating moves characteristic of leading stocks during sector-wide rallies. During such times, these types of stocks often become focal points for capital. From a technical perspective, the market is reassessing the stock under the lens of a sector-wide rally, which has a certain foundation. However, it’s important to note that while sector sentiment can support valuation expansion and chasing behavior, individual stocks still need to overcome hurdles step by step. Just because the market is discussing innovative drugs doesn't mean all lofty targets will be achieved quickly.

As for investors who believe that the target price for this round is 149 yuan, or even breaking new highs, the direction can be seen as a moderately optimistic mid-term scenario. However, in terms of short-term technical rhythm, 149 yuan is still a later-stage target, not an immediate expectation for the next few days. Although the stock price is strong at present, it has just risen to around 118 to 120 yuan. The first thing to assess is whether it can stabilize at this high level and then continue to rise towards 124 yuan or even higher. If these levels are gradually reclaimed, the market will naturally start to shift its sights to further targets; but if significant fluctuations occur near the current price, then 149 yuan should only be regarded as an optimistic scenario rather than a short-term guaranteed target.

Overall, Rongchang Bio's current trend is indeed on the stronger side. If the innovative drug sector continues to attract capital inflows, the stock price still has the potential to push higher, and the bullish outlook is not without basis. However, a truly healthy upward trend usually doesn’t rise in a straight line every day, but follows a rhythm of breakthrough, consolidation, and another breakthrough. Therefore, what is more worth observing at this stage is not rushing to determine whether 149 yuan will definitely be reached, but first seeing if the price can stabilize between 118 and 120 yuan, and then assessing whether there are conditions to open up further upside space.

3. HSBC is once again showing strength as it approaches previous highs, but the 135 to 137 yuan range may not be easily revisited. The short-term key is now whether it can stabilize above 140 yuan.

HSBC is currently trading at 141.40 yuan, with today’s high at 142.70 yuan and low at 141.00 yuan. The overall trend reflects a pattern of consolidation at high levels before pushing higher again. From the daily chart structure, the stock price previously rose to around 144.40 yuan, then pulled back to about 118.50 yuan before finding support. Afterward, it gradually recovered, and recently managed to stay above key moving averages such as the 5-day, 10-day, 20-day, 30-day, and 60-day lines, indicating that the medium- to short-term structure has turned bullish again. The stock price is not only back to high levels but also very close to the previous peak, suggesting that market participants are still willing to buy at these elevated levels. This move is not a weak rebound but rather a consolidation followed by another attempt to test the top.

However, although the trend remains strong, the stock has started entering a more sensitive resistance zone in the short term. In terms of the Bollinger Bands, the middle band at around 129.54 yuan has been clearly reclaimed, and the stock price is now very close to the upper band at approximately 143.70 yuan. This indicates that buying pressure is dominating in the short term, but also reflects that the current price is nearing the upper boundary of the channel. If further upside momentum fails to materialize, a period of consolidation at high levels might follow. The RSI has climbed above 80, signaling an overheated level, which suggests that while the uptrend is strong, traders need to pay attention to the pace when chasing higher, as profit-taking becomes more likely the closer the price gets to previous highs. Short-term support is first seen at 140 yuan, followed by 137 to 135 yuan. Immediate resistance lies at 142.70 yuan, and then the previous high at 144.40 yuan. A break above these levels would provide room for further upside expansion. The key turning point now is whether the stock can hold above 140 yuan and further break through the 142.70 to 144.40 yuan range.

For investors asking whether there will be another chance to buy at 135 to 137 yuan, from the current technical perspective, it's not impossible to revisit this range, but it is no longer the most basic short-term scenario. The stock price has now risen above 141 yuan, and both the 5-day and 10-day moving averages have clearly moved higher, indicating the short-term momentum remains strong. If market sentiment stays stable, the stock price is more likely to fluctuate above 140 yuan, or even test the resistance levels of 142.70 to 144.40 yuan, rather than immediately retreating deeply to 135-137 yuan. Therefore, waiting for the 135-137 yuan range to re-enter is essentially betting on a significant pullback, which is not impossible, but would require either resistance at previous highs or a general market downturn. Otherwise, such an opportunity might not come easily.

As for investors who bought Calls just before 3 PM, this strategy clearly anticipates that the stock price will maintain its late-session strength and possibly challenge previous highs again. From a technical perspective, this directional bias is not without merit, as HSBC has indeed been consolidating strongly at high levels and then resuming its upward push, with its technical setup appearing much steadier than most weak rebound stocks. However, given that the price is already close to previous highs, while upside potential remains, the risk-reward ratio in the short term is less appealing compared to earlier stages when the stock was just starting to rise from lower levels. In other words, while buying Calls may not be wrong directionally, it is now a later-stage play, and future performance will depend on whether the stock can genuinely break through 142.70 and 144.40 yuan. Otherwise, if the price merely moves sideways at high levels, the product’s performance may not align directly with the underlying stock’s movement.

Overall, HSBC remains in a relatively strong pattern. Unless the market shows clear signs of weakness, the stock has the potential to remain in the high-level trading zone in the short term. For investors hoping to enter at 135–137 yuan, this price range has now become an ideal, though potentially unlikely, pullback area. For those who have already purchased Calls, the focus going forward is whether the stock can break through 142.70 to 144.40 yuan. At this stage, rather than speculating on an immediate deep pullback, it’s more important to watch whether HSBC can transform its high-level consolidation into another breakout move.

Reminder: This article does not constitute any investment advice.

This article is for reference only and does not constitute any investment advice. The market data, opinions, and analysis contained herein may change at any time without prior notice. We are not responsible for any loss or damage caused by reliance on the information in this article. Technical analysis only shows whether certain technical conditions are met; a comprehensive assessment of asset performance should combine other data and should not solely rely on this article to make trading decisions. Please note that past performance is not indicative of future results. Follow Jenny's insights on Hong Kong stock warrants for more professional analysis.

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