I reiterate my stock picks made in the last two days. I also took profits and would note that each of the stocks (1919, 2823) made a hefty 20% and 15% respectively from my entry points.  I think it’s time to come back in.
1.) China Tracker (2823 HK)
Note that the Chinese tracker stock was decisively higher all throughout the day from its opening price of 8.55 and closing near its peak of 9.11, despite the strong gap down of Hang Seng Market today.

5-day intraday chart

From the daily chart, 2823 is stuck in a range with the bottom end at 8.50 and the top end near 10-10.50.  Since 60% of the move of the China tracker’s fund is related to the movement of the Hang Seng Index as well as the risk appetite in Shanghai, this bullish white candle is a signal for a possible bounce.

Daily chart

2.) China Cosco (1919 HK)

China Cosco’s volume is now more active than previous days, signaling that there are active market makers interacting with continuous demand and supply throughout the day. It opened yesterday at 4.50 and retested its previous low of 4.20. It closed higher by the end of day to close at 4.50 making a bullish doji star. I like this stock because of its high trading volume activity, cheap cut and bullish intraday support.  I also believe that all the previous buyers at higher prices were already flushed out creating a good absence of sellers for the stock to move up.  Note that its intraday chart below is like a mountain.  A trader entering at the levels I’m recommending is faced with only one question. Whether it gaps down in the US, which will make a new low, or it simply retests the levels I’ve mentioned. The potential upside is yours for the picking.

Support:  4.20
Resistance: 5.80
Preferred Entry: 4.50 or lower

Disclosure:
Author is long AGAIN the same stocks after taking profits last two days ago.  1919 HK at an average price of 4.47, 2823 HK at an average price of 9.00