Hangseng: More space for upside - Trading Consultant | Securities | Research

Monday 06 Feb 2012

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Tuesday, 07 September 2010 10:12

TRADING STRATEGY
HANGSENG: More space for upside

Summary. We believe the ABCDE complex correction rally is unfolding, so we expect another short-term rally for the next two weeks. As long as the daily stochastic 8,5,5 is not in the overbought area or making a bearish reversal, long BUY trade should be considered. The high probable target price for this pattern is approximately at 22,100-22,300.

Trading Strategy. Take a long trade only when the hourly stochastic 8,5,5 is bullish reversal or at least moves in the oversold zone. Hangseng will invalidate the bull trend when it declines below 20,200, we then reverse to short-sell.

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