Don't miss it out: 3 HK Giants Showing Bullish Structures

Executive Summary

Hong Kong’s market is beginning to show early signs of technical stabilisation. After a period of consolidation and uneven price action, several blue-chip names are now holding firmly above their key moving averages, with momentum gradually rebuilding beneath the surface.

In this month’s SDR update, we highlight three Hong Kong heavyweights: Ping An Insurance, PetroChina, and Bank of China. All of which have flashed fresh 1GT Bullish signals while maintaining constructive higher-low structures. As financials and energy names start to regain traction, these charts suggest that the broader recovery may already be taking shape.

1) Ping An Insurance (Group) Company of China, Ltd. (2318.HK); Ping An Ins HK SDR 2to1 (HPAD)

Ping An Insurance (2318.HK) is one of China’s largest integrated financial groups, with core businesses spanning life and health insurance, property insurance, banking, asset management, and digital financial services. It remains a heavyweight within Hong Kong’s financial sector and is widely regarded as a proxy for China’s domestic consumption recovery and broader financial stability.

From a technical standpoint, the longer-term structure remains constructive. 

Price continues to trade comfortably above both the 100-day (red line) and 200-day (blue line) moving averages, and both averages are still sloping higher, confirming that the broader medium-term uptrend remains intact. 

The 20-day (green line) is now sloping downward, as the prices broke below the immediate support of HK$68 (S$5.44), with the next immediate support at HK$62 (S$4.96).

Previously, a 1GT Bullish signal appeared near the HK$62 region (S$4.96), where this level still remains as a key support level with the 100-day moving average residing near this level as well. 

Price has recently dipped below the support at HK$68 (S$5.44), indicating that there could be short-term weakness. 

If buyers show up, we might see consolidation above the HK$68 (S$5.44) level. 

As long as these levels hold, the overall structure remains constructive and aligned with the longer-term uptrend.

💡 So how does one take a position in Ping An Insurance from the HK SDR traded on the SGX?

You can take a position via the Ping An Ins HK SDR 2to1 (Ticker: HPAD), which trades on the SGX with a 2 SDR to 1 underlying share ratio. 

Using the 0.16 HKD-to-SGD exchange rate, the SDR is currently priced around S$5.25–S$5.40, reflecting the underlying chart structure.

Conservative traders may prefer to accumulate above the HK$68 (S$5.44) support zone on strength, as long as the support zone holds.

More aggressive traders could look to position on a confirmed breakout above HK$74 (S$5.92), with HK$80 (S$6.40) as the next upside target, while keeping HK$68 (S$5.44) in mind as the key level that needs to hold for the bullish setup to remain intact.

2) PetroChina Co., Ltd. (857.HK); PetroChina HK SDR 1to2 (HPCD)

PetroChina Co., Ltd. (857.HK) is one of China’s largest oil and gas producers, with operations spanning exploration, production, refining, petrochemicals, and pipeline transportation. As a key state-owned energy major, it serves as a direct proxy for China’s energy demand trends and global crude oil price movements.

The structure has improved significantly over the past few months. 

Price is trading firmly above both the 100-day (red line) and 200-day (blue line) moving averages, and both longer-term averages continue to slope upward, confirming that the broader long-term uptrend remains intact. 

The 20-day (green line) has also started trending higher, indicating sustained short-term momentum.

A recent 1GT Bullish signal emerged after prices broke the HK$9.00 (S$2.88) level, turning into a new support level. 

The immediate support sits at HK$10.00 (S$3.20), with prices testing the immediate resistance at HK$10.50 (S$3.36).

As long as these levels hold, the overall structure remains constructive and aligned with the prevailing uptrend.

💡 So how does one take a position in PetroChina Co., Ltd. from the HK SDR traded on the SGX?

You can take a position via the PetroChina HK SDR 1to2 (Ticker: HPCD), which trades on the SGX with a 1 SDR to 2 underlying share ratio. 

Using the 0.16 HKD-to-SGD exchange rate, the SDR is currently priced around S$3.30–S$3.40, reflecting the underlying chart structure.

Conservative traders may prefer to accumulate closer to the HK$10.00 (S$3.20) support zone on pullbacks. 

More aggressive traders could look to position on a firm breakout above HK$10.50 (S$3.36), with HK$11.00 (S$3.52) as the next upside target, while keeping HK$10.00 (S$3.20) in mind as the key level that needs to hold for the bullish setup to remain intact.

3) Bank of China Limited (3988.HK); Bank of China HK SDR 1to1 (HBND)

Bank of China Limited (3988.HK) is one of China’s “Big Four” state-owned commercial banks, with a strong footprint in corporate lending, retail banking, cross-border financing, and offshore RMB clearing. As a key financial heavyweight in Hong Kong, it often serves as a barometer for China’s banking sector stability and broader credit conditions.

Price continues to hold above both the 100-day (red line) and 200-day (blue line) moving averages, with the longer-term averages gradually sloping higher, indicating that the broader uptrend remains intact. 

The 20-day (green line) has also turned upward after rebounding from the HK$4.40 region (S$0.70), suggesting that short-term momentum is beginning to realign with the longer-term trend.

A fresh 1GT Bullish signal recently as price rebounded from the HK$4.40 (S$0.70) support area. 

Since then, the stock has been pushing higher and is now testing the HK$4.80 level (S$0.77), which represents a near-term resistance zone. 

A sustained breakout above this area could open the path toward HK$5.20 (S$0.83), where there may be some profit-taking.

As long as HK$4.40 (S$0.70) continues to hold, the overall technical structure remains constructive and aligned with the prevailing trend.

💡 So how does one take a position in Bank of China Limited from the HK SDR traded on the SGX?

You can take a position via the Bank of China HK SDR 1to1 (Ticker: HBND), which trades on the SGX with a 1 SDR to 1 underlying share ratio. 

Using the 0.16 HKD-to-SGD exchange rate, the SDR is currently priced around S$0.73–S$0.75, reflecting the underlying chart structure.

Conservative traders may prefer to accumulate closer to the HK$4.40 (S$0.70) support zone on pullbacks. 

More aggressive traders could look to position on a confirmed breakout above HK$4.80 (S$0.77), with HK$5.20 (S$0.83) as the next upside target, while keeping HK$4.40 (S$0.70) in mind as the key level that needs to hold for the bullish setup to remain intact.

 About the Author - Joey Choy

Joey is Singapore’s renowned mentor on how to make an income by trading the stock market, an author and one of the most-watched, quoted and followed stock trading trainers in Singapore. Over the years, he has conducted numerous full house seminars, enriching thousands to trade more profitably. 

Joey’s come back story from a S$740k debt has been featured in the Business Times and inspired thousands in Singapore. In less than 3 years, he is highly regarded as one of the Top Tier Remisiers (Stock Brokers) and Traders, bagging numerous yearly awards like Top Trading Representative and Top CFD Achiever every year from 2014 to 2023 in Phillip Securities.

More about Joey here

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