HK Market stock pick update Jan. 8, 2009
Thursday, January 8, 2009 0:07
Country Garden (2007 HK) opened at 2.09 but was sold all the way down to end at 1.90. The behavior of the stock is still inside the pattern but it would take time before new buying interest comes in, as it exhibited a bearish one day reversal. Allow the stock to form a pattern again before buying the stock back. Wait for a possible bounce from previous support level of 1.85.
Recommendation: Cut when the stock reaches lower than 1.85 with volumes.
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