Hong Kong stocks
continued their recovery on Tuesday, rising for a third straight
session, as sentiment improved since pro-democracy protesters in the
territory continued to shrink in number. The benchmark Hang Seng
Index HSI, closed up 0.5%, as banks and property developers with
strong exposure to the territory were mixed.
Index is likely to show
upside movement in upcoming session as Index today managed to sustain
above its psychological support mark of 23000 and closed above its 50
DMA on intraday chart. In upcoming session it can continue its
recovery if it manages to give closing above 23400. RSI too bounce
back from oversold zone and appearance of bullish cross over on MACD
can bring further northward momentum in upcoming session. For down
side, index can hold the psychological support of 23000, while next
support would be seen at 22700.
TOP
GAINERS
Name
|
Closing
|
%
Change
|
CLP HOLDINGS
|
63.550
|
1.36%
|
CHEUNG KONG
|
132.500
|
1.14%
|
SHK PPT
|
112.400
|
0.63%
|
HANG SENG BANK
|
126.900
|
0.56%
|
CHINA UNICOM
|
11.560
|
0.52%
|
TOP
LOSER
Name
|
Closing
|
%
Change
|
TINGYI
|
20.200
|
-1.94%
|
CHINA OVERSEAS
|
20.950
|
-1.87%
|
BELLE INT'L
|
8.560
|
-1.72%
|
MENGNIU DAIRY
|
32.100
|
-1.68%
|
LENOVO GROUP
|
11.600
|
-1.53%
|
Most
Active Volume
Name
|
Closing
|
%
Change
|
CCB
|
5.500
|
27.90M
|
ICBC
|
4.910
|
23.79M
|
BANK OF CHINA
|
3.500
|
18.18M
|
SINOPEC CORP
|
6.740
|
10.67M
|
LENOVO GROUP
|
11.600
|
6.91M
|
Most
Active Turnover
Name
|
Closing
|
%
Change
|
CHINA MOBILE
|
91.200
|
508.61M
|
GALAXY ENT
|
48.100
|
246.06M
|
TENCENT
|
119.100
|
215.97M
|
AIA
|
40.750
|
203.67M
|
HSBC HOLDINGS
|
78.950
|
176.56M
|
Stock
Pick for the day: Lenovo Group
Recommendation Buy
Target : 12.70 & 13.20
Recommended Price : 12.10
Stop Loss: 11.70
STOCK SUMMARY:-
Major trend of stock is upward on chart. It has traded in short term down trend in last 2 weekly trading session. Now It has been showing a good bounce back from bottom with good volume. Now it is facing resistance at 12.100. We recommend the stock to buy the stock if it crosses its resistance of 12.100. One can keep the stop loss at 11.70 and stock is likely move north ward in upcoming session as it has taken support of 50 on daily chart and targets of 12.70 & 13 .20 can be seen in short term,
CHART FORMATION:-
Stock was forming descending wedge with the resistance of 50 DMA and 200 DMA on hourly chart and now it has give upside breakout from its upper resistance line and likely to show northward movement in upcoming session as it is forming inverse head and shoulder.
INDICATORS:-
MACD Line is likely to cross its single line, which can bring upward momentum in the stock.
RSI is also trading above 40 mark on daily charts and showing conversion with prize trend.
On ADX positive DI Placed above negative DI and expanding of bullish gap can take ADX above 25 mark.
