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News
CITIC Construction Investment: Hold on to the bargaining chip and welcome the market
The Zhitong Finance App learned that CITIC Construction Investment released a research report saying that the initial policy has been gradually recognized by the market. The economic data for August have improved month-on-month. Recently, Sino-US relations have warmed up, and the market bottom signal is strong. It is advisable to firmly hold on to the bargaining chip and welcome a new round of market conditions.
J.P. Morgan Chase raised the target price for CNPC to “increase holdings” rating to HK$7
J.P. Morgan Chase released a research report stating that it gave CNPC (00857) an “increase in holdings” rating, and the target price was raised from HK$6.1 to HK$7. The company's A and H share prices have risen by more than 60% so far this year (the same as the Shanghai Composite Index, and the Hang Seng Index fell 11%), but they are still 50% lower than the 2007-2014 level. Although the bank predicts that the company's net profit will reach a record high of 162 billion yuan this year, exceeding 25% from the 2007-2014 average. The bank said it maintains its forecast that oil prices will peak in September, and there is room for a slight decline by the end of the year, but the forecast is clear
Express News | China Stocks Set for 10-Month Low as Economic Pessimism Persists
Comments
Slight Bullish Divergence in the Hang Seng Index
Silver Lining?
The market is beginning to look more and more bearish lately. But stocks can't fall forever. Typically, after a major selloff, you could expect a slight rebound in price as short swing traders take up profit and investors buy up shares at a relative discount.
This might be what is happening in the Hang Seng Index today as we have a possible silver lining in the technical picture.
Technical Outlook
In the...



Watch Out for the Head and Shoulders Patterns
If you followed my previous post about bearish patterns popping up around the market, then I've got another one for you. Check out the previous post in the link below.
Another Bearish Technical Development
When sentiment in equity marktes worldwide is turning bearish, then you will see a lot of the more bearish technical patterns showing up in the charts. Here is an example below with the Hang Seng Index. A head and s...

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SpyderCallOP : @102640653
I'm still bearish at the moment. I need to see more upside. But if there was a solid technical level to buy in, then the fib levels are great for that. I still need to see more upside
SpyderCallOP SpyderCallOP: I'm checking out tencent and baba. give me a few minutes for those
102640653 : Agreed I’m also waiting for the first zone to be broken 18550-18620. I am also looking at sse index as hangseng just closely follow its movement. It’s just like sse is leading its way n the rest of the index mainly china a50, hangseng follows together . Thanks .
102640653 : Just look at sse movement . Good movement with China a50 but hongkong slow to follow in afternoon .
102640653 : Usually in afternoon trade hangseng would be consolidating n after 3 will make some moves but today is exceptional. Something more is there . All the heavyweight r picking up again after lunch . Just keep. An eye open.
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