Chinese Stocks Start 2023 with Exceptional Strength

Futures are higher this morning (+22 points) near 3867 (+/-) despite the dismal start to the new year. U.S. indices closed lower on Tuesday, starting 2023 with a modest decline. 

Chinese Stocks

While the domestic equity markets dealt with selling pressure, Chinese stocks received a boost.

Alibaba (BABA), Baidu (BIDU), Pinduoduo (PDD), NetEase (NTES), Weibo (WB), JD.com (JD), and Bilibili (BILI) are expected to follow through  with gains this week.

Bilibili (BILI) saw a spike in volume to start the new year, after weeks of accumulation, confirmed by its IBD (+A) accumulation/distribution rank. Click to enlarge chart.

When looking for the best stocks to buy and watch, focus on those with rising relative price strength, like Bilibili (BILI), which had its Relative Strength (RS) Rating upgraded from 87 on Friday to 91 to start the new year.

When we look for the best stocks to buy and watch, we keep a close on eye on relative price strength.

IBD’s unique rating identifies price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price performance over the last 52 weeks compares to all the other stocks in our database.

History reveals that the stocks that go on to make the biggest gains often have an RS Rating of above 80 in the early stages of their moves.

Join us today in the trading room for our LIVE broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 

Vinny

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