Stock Pick: HK Market
Posted by lonevoice
Thursday, November 27, 2008 23:15
Thursday, November 27, 2008 23:15
Posted in category Hang Seng
No Comments
2343 HK (Pacific Basin)
Support: 2.90
Resistance: 3.60/3.95
Preferred Entry: 3.00 or lower
Stock is in a consolidation mode in a range between 2.90 to 3.20. Volume continues to be strong. Buy on point of breakout (3.21) or anticipate the move by buying near support levels (3.00 below).
The daily chart is anticipating a breakout with a target of 4. The RSI is diverging with strong volume that is evidence of accumulation.
Recommendation: Buy near support level of 3.00
Disclosure: Author is long 2343 HK
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