Long China Short US

Unpopular, unpatriotic title, but the chart doesn’t lie. China tech overall has been basing and looking to break out of the long term downtrend while US tech has struggled. PDD has higher beta than its Chinese peers and I am looking to hedge with shorting the de-facto US e-commerce play, Amazon. Although it would be a more apples to apples comparison to pick a more niche US e-commerce stock, like an Etsy or EBay, shorting one of those would provide more volatility and increase risk. Relative performance between PDD and AMZN is making a textbook cup and handle formation. PDD itself is also making a cup and handle formation, tightening around the level 65, a level of previous resistance and support. AMZN has an unfilled gap in the 130s and previous high around 125 as heavy short term levels of resistance. Long PDD, short AMZN.