KWEB bullish on retest of triangle breakout

The KraneShares CSI China Internet ETF (KWEB) looks bullish on a retest of the breakout from its October 2024-August 2025 triangle and rising 26- and 40-week moving averages (WMAs) from 37.62 down to 36.20 on last week's undercut to 35.90.

Continuing to hold the 37.62 to 35.90 zone would keep KWEB bullish with upside potential toward 48.50 (triangle target) and 50.72 (38.2% retracement of the February 2021 into October 2022 decline).

Reclaiming the 13-WMA at 39.52 (also the tactical downtrend line from early October) would provide solid confirmation of a successful test of support.

This pattern resembles the bullish breakout and retests for the Invesco China Technology (CQQQ) and SPDR S&P China (GXC) ETFs highlighted in our 11/25 Charted Market Insights.

Chart 1: KraneShares CSI China Internet ETF (KWEB)