Hong Kong stocks ended the year with a modestly
winning session Wednesday, after HSBC revised its Chinese
manufacturing activity index for December slightly higher from an
earlier reading. The Hang Seng Index closed 0.4% higher, capping an
annual gain of 1.3%. Though mild, the yearly advance means the
benchmark index has now risen for three straight years in a row. Hang
Seng has crossed 23600 as RSI sustaining above 50 mark and on
stochastic expanding of bullish gap showing that momentum can gain
more strength in upcoming session and index would be on positive
biassed in upcoming session.
TOP
GAINERS
|
Name
|
Closing
|
Net
Change
|
|
CHINA RESOURCES
|
16.240
|
+0.420 (+2.66%)
|
|
CHINA LIFE
|
30.450
|
+0.650 (+2.18%)
|
|
BANKCOMM
|
7.240
|
+0.150 (+2.12%)
|
|
BANK OF CHINA
|
4.370
|
+0.080 (+1.86%)
|
|
ICBC
|
5.660
|
+0.100 (+1.80%)
|
TOP
LOSER
|
Name
|
Closing
|
Net
Change
|
|
MTR CORPORATION
|
31.800
|
-0.350 (-1.09%)
|
|
TENCENT
|
112.500
|
-0.800 (-0.71%)
|
|
SANDS CHINA LTD
|
38.150
|
-0.250 (-0.65%)
|
|
CHINA UNICOM
|
10.400
|
-0.060 (-0.57%)
|
|
GALAXY ENT
|
43.650
|
-0.200 (-0.46%)
|
Most
Active Volume
|
Name
|
Closing
|
%
Change
|
|
BANK OF CHINA
|
4.370
|
272.20M
|
|
CCB
|
6.370
|
222.00M
|
|
ICBC
|
5.660
|
216.79M
|
|
SINOPEC CORP
|
6.250
|
39.21M
|
|
PETROCHINA
|
8.600
|
36.59M
|
Most
Active Turnover
|
Name
|
Closing
|
%
Change
|
|
CCB
|
6.370
|
1.41B
|
|
ICBC
|
5.660
|
1.22B
|
|
BANK OF CHINA
|
4.370
|
1.18B
|
|
PING AN
|
79.100
|
1.13B
|
|
TENCENT
|
112.500
|
1.06B
|
Stock
Pick for the day: Fosun Intl
Recommendation
Buy
Target
: 11 & 12
Recommended
Price : 10.30
Stop
Loss: 9.80
STOCK
SUMMARY:-
Major
trend of stock is bullish on chart. It has been trading with higher
top and higher bottom formation on charts. It has shown small
correction from its significance high and now it is trading with
positive biasness with resistance of 50 DMA in last three trading
session. We recommend the stock to buy if it manages to give closing
above resistance of 50 DMA at 10.25. One can keep the stop loss of
9.80 support of 200 DMA at and stock is likely move north ward in
upcoming session and targets of 11 & 12 can be seen in short
term.
CHART FORMATION:-
Stock
has given a small dip with formation of short term falling wedge on
intra day chart. An appearance of moving average golden cross on
hourly chart showing that momentum would be bullish in upcoming
session we recommend to buy the stock on dip.
INDICATORS:-
MACD
Line has crossed above its single line, which can bring upward
momentum in the stock.
RSI
is trading above 50 mark showing that stock may remain bullish in
upcoming session.
On
ADX there is a bullish crossover of positive DI and Negative DI and
crossing of ADX above 25 can bring further buying in the stock.
