It seems the market had made a good recovery from 20000 pt. to 20600 pt. The double top I spot last week on the daily chart has been rejected coz the HSI failed to go any lower than 20000.
3 months Daily Chart
We can see the HSI is still in a downtrend but it had definitely slow down. The HSI is forming a base between 20500 to 19500. It seems to me HSI will continue to rise in the short term especially with the help of HSBC. On the short term I am aiming at 21000.
1 year Weekly Chart
On the weekly chart, HSI has continue to consolidate around the 20000. It is still close to the 13 week and 30 week EMA. With both MA close together. It seems to me HSI is about to turn back up with a goal of 22000 pt. The consolidate around 20000 has formed a good base for HSI to move up further.
Overall I am still Bullish with the market. With the announcement of result for HSBC (5)on coming Monday 1st of March 2010, as I have said before. I am confident that the result will continue to improve. And on the 2nd of March 2010, Pacific Basin (2343) is announcing its final result as well. I am also confidence that it will be a good one. I currently had holdings of both stocks I have mentioned.
Word of the Week: Keep learning, the more you learn, the better you are in any given field. At the moment I am committed to spend 1 hour a day reading books about shares, real estate and wealth creation.
Article by
Trading Room
www.tradingforreal.blogspot.com
Sunday 28 February 2010
Sunday 21 February 2010
Hang Seng Index Market Outlook 21-02-2010
Well it has been another volatile week for the Hang Seng Index. The HSI reach a peak of around 20500 point then fall back to around 19900.
3 Months daily Chart
On this chart, the HSI is still in a down trend. Its has recently formed a possible double top with the top at the level around 20500. Its seems like the HSI will drop further to around 19000-19500 in the short term.
1 Year Weekly Chart
The HSI remained below both 13 week and 30 week EMA. It was consolidating around the 20000 level for the past month. The distance between the 13 week and 30 week EMA are getting closer. If the 13 week EMA crossed down from the 30 week EMA, that will be a death cross. Which signalled possible bear market. That's what the technical side look like.
Overall I believe the economy is recovering well and I don't think a market crash will come in the near future. So what does this means, it means the current market correction is providing us with a good opportunity to buy good company at a fair price. Also HSBC is going to announce its final result on the 1st of March 2010. I am very confident that the result will be a good one. I think HSBC will go back to $100 within this year.
Article by
Trading Room
www.tradingforreal.blogspot.com
3 Months daily Chart
On this chart, the HSI is still in a down trend. Its has recently formed a possible double top with the top at the level around 20500. Its seems like the HSI will drop further to around 19000-19500 in the short term.
1 Year Weekly Chart
The HSI remained below both 13 week and 30 week EMA. It was consolidating around the 20000 level for the past month. The distance between the 13 week and 30 week EMA are getting closer. If the 13 week EMA crossed down from the 30 week EMA, that will be a death cross. Which signalled possible bear market. That's what the technical side look like.
Overall I believe the economy is recovering well and I don't think a market crash will come in the near future. So what does this means, it means the current market correction is providing us with a good opportunity to buy good company at a fair price. Also HSBC is going to announce its final result on the 1st of March 2010. I am very confident that the result will be a good one. I think HSBC will go back to $100 within this year.
Article by
Trading Room
www.tradingforreal.blogspot.com
Monday 8 February 2010
Hang Seng Index Market Outlook 07-02-2010
Well well it has been another bearish week for the HSI. The market had already corrected by about 14% from its top at 23000. The next supporting level will probable be 19000 and maybe 18500.
3 Months Daily Chart
On the three months daily chart, the market is in a confirm downtrend. It is very likely that the market will go even lower this coming week.
1 year Weekly Chart
The HSI is staying below the 30 wk EMA. The 13 wk EMA and the 30 wk EMA are both turning down. All these are bearish signal. Despite all this, I believe we are still in a bull market. This is a correction that needs to be happen after the HSI had rally from 12000 to 23000. The overall economic fundamental are good. So it there is some good company at attractive price. I will recommend buying those company.
Remember Buy when others are selling and Sell when others are buying.
Article by
Trading Room
www.tradingforreal.blogspot.com
3 Months Daily Chart
On the three months daily chart, the market is in a confirm downtrend. It is very likely that the market will go even lower this coming week.
1 year Weekly Chart
The HSI is staying below the 30 wk EMA. The 13 wk EMA and the 30 wk EMA are both turning down. All these are bearish signal. Despite all this, I believe we are still in a bull market. This is a correction that needs to be happen after the HSI had rally from 12000 to 23000. The overall economic fundamental are good. So it there is some good company at attractive price. I will recommend buying those company.
Remember Buy when others are selling and Sell when others are buying.
Article by
Trading Room
www.tradingforreal.blogspot.com
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