A scan on XPertTrader showed that many of the China shares are making a comeback. Most of them closed the week with good volume. Perhaps the Olympic effect is working it's magic? I can't say the same for our property counters. Capland's result really got its stock price whacked hard. How obvious can it gets? I remembered reading about it in the newspaper plenty of times about how th property market is getting quiet... not once but plenty of time. Next will be construction sector, but unfortunately they already got whacked.
We paid no attention to the trading in US. There was clearly no follow-through buying or selling whenever there was a massive move in US. With National day coming up, we may just hold it there till the week ends. Olympic may lift us abit if any, but down? I doubt this week we will go down.
Hongxin: This one is Joseph's favourite. :P Bull engulfing pattern based on last friday closing and the resistance will be at 565 to 545. MFI is firm and MacD in a nice trending mode.
KS Energy: No wave without wind. What an incredible run by KS energy.... a good candidate to be on my watchlist. I be waiting for a pull back.... CS reversal.... volume
Hi-P: The breakout resulted in a doji at resistance, in japanese candlestick terms, we call this the star in the north. Uncertain bulls... Coupled with a higher than average volume, very likely to pull back into the range.
Ferro: A quick check saw that the falling window is now acting like a resistance. The strong volume on up days certainly caught my eye. I am keen to see ferro pull back because of weak holders cashing out.