On July 27 CXMT listed in Shanghai at 8.66 yuan and opened at 49.50, a 466% first-day move that made China's DRAM champion the most valuable company on any mainland exchange. It now trades near 52.87 yuan, roughly 522 billion dollars. The business underneath is real and moving fast. Revenue went from 9.1 billion yuan in 2023 to a guided 110 to 120 billion in the first half of 2026 alone, and nine years of losses flipped to a guided 50 to 57 billion yuan of half-year profit. The problem is what set the price. Only 6.73% of the enlarged share capital was tradable at listing, so about 35 billion dollars of stock is marking 522 billion. Published targets run from 14.90 to 116 yuan with nothing in between. Our scenarios bracket 14 to 91, weighting to 42. This piece shows the background, the capacity math, the multiple, and every calculation behind those numbers.

CXMT: A detailed analysis of China's DRAM champion, the float distortion and where the stock goes next.

The Stochastic Oscillator is sold as a momentum indicator, and its creator said so directly: it "doesn't follow price, it doesn't follow volume or anything like that." But the formula's only inputs are a close, a highest high and a lowest low, every one a price. What it reports is where the close sits inside the recent range, blind to how wide that range is: a dead-flat market and a violent one can print the identical 95. This piece covers the arithmetic, why the reading pins at 100 in a trend, and the fact that it was not among the strategies the 2023 crypto study tested.

Stochastic Oscillator Explained: %K, %D and the 80 Level

Bollinger Bands wrap price in a statistical envelope, and almost everyone reads that envelope wrong. The textbook intuition says two standard deviations should contain about 95% of the data, so a touch of the band feels like a rare, stretched event. Studies find the real figure is closer to 88%, because price has fat tails, twenty observations is too small a sample, and prices are not independent of each other. A band touch is roughly a one-in-eight event, not one-in-twenty. This piece explains what the bands actually measure, why the statistics do not behave, and what happened when researchers swept their settings on crypto.

Bollinger Bands Explained: What a Band Touch Really Means

MACD is the most-watched crossover on any chart, and the least understood number. It is not an oscillator with meaningful levels: it is one exponential moving average subtracted from another, which means it is denominated in the asset's own price units and has no ceiling, no floor and no "overbought" reading. A MACD of 250 on Bitcoin and 0.4 on a cheap altcoin can describe identical momentum. This piece explains what MACD actually computes, why it lags twice over, and what happened when researchers tested it properly on crypto.

MACD Explained: Settings, Crossovers and What They Mean

RSI is the most misread indicator in trading. Almost everyone treats a reading above 70 as a warning to sell, but the number does not mean what people think. Run Wilder's formula backwards and "overbought at 70" turns out to be a plain arithmetic statement: this market's average gains have been about 2.3 times its average losses. That is the definition of a strong uptrend, not a reason to bet against one. This piece explains what RSI actually computes, what the tested evidence says about trading it, and which popular RSI statistics fall apart when you look for the source.

RSI Explained: The Formula, the 70/30 Levels, the Evidence

The moving average is the most-tested indicator in finance, and its record contains a twist almost nobody repeats. The best simple moving-average rules really did beat the market across ninety years of Dow data, and that result survived a brutal statistical correction for the number of rules tested. Then it stopped working the decade after it was published. Stranger still, the rules that won in the academic tests were 2-day and 5-day averages, not the famous 50 and 200 everyone quotes. This piece explains what a moving average measures, why it is late by construction, and what a century of testing actually says about trading it.

Pull up any chart and add a 200-period moving average. Instantly the picture organises itself: price above a rising line reads as an uptrend, below a falling line as a downtrend, and the chop in between as indecision. That is a genuinely useful thing to do in one click, and the moving average is the closest thing technical analysis has to an honest instrument.

Moving Averages Explained: SMA, EMA and the Golden Cross

Technical indicators like RSI, MACD and moving averages are the most worshipped tools in retail trading, and the most misunderstood. Every one of them is a mathematical transform of the price you are already looking at, which means it cannot know anything the chart does not; it can only repackage it, and always a step late. This piece explains what the big three indicators actually measure, why they lag by construction, and what the tested evidence really says: simple indicator rules showed an edge on paper that mostly evaporates once you account for trading costs and the sheer number of rules people try. Open any trading screen and you will find it buried under indicators: a couple of moving averages, an RSI in one pane, a MACD in another, maybe a Bollinger band for good measure. They look like instruments reading something hidden in the market, a set of gauges for a machine only the initiated can see. That impression is the single most expensive misunderstanding in retail trading.

Do Trading Indicators Work? RSI, MACD, MAs Tested

The whole series told you to set a stop-loss at your invalidation level. This part covers the uncomfortable detail nobody mentions: a stop-loss is not a guaranteed exit price. On most perps venues, including ApeX Omni, a triggered stop is a market order, so in a fast or gapping market it fills at the best available price, which can be well past your stop. The order type you choose, and the trigger price you set it on, is the difference between protection and a nasty surprise. This piece explains the order types you actually have, the one tradeoff you can never escape, and how to place the stop from earlier in the series so it does its job.

Order Types Explained: Make Your Stop-Loss Protect You

A perpetual does not have one price, it has three. The last price is what you see on the chart and what fills your orders. The index price is the fair spot value, drawn from several exchanges, and it drives funding. The mark price is a smoothed fair value, and it is the one that calculates your unrealised profit, your margin, and your liquidation. Confusing them is why traders think their profit vanished or their liquidation was rigged. This piece separates the three, explains the basis that connects them, and shows why the number that closes your position is deliberately not the number flashing on the tape.

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