As at 3.01am EDT,SSEC was trading at 2861.36 (a gain of 19.95 points or 0.70%). SSEC rallied after it re-opened on October 8 following a 5-day holiday (from October 1 to October 7). This means that SSEC has broken above its 200-day SMA line at 2835 as well as the long-term downtrend line (at 2830) that stretches back to October 2007. With these double breakout, I believe SSEC is likely to commence on its new uptrend. You should get into CIMBX25 asap.
Chart: SSEC's weekly cahrt as at Oct 11, 2010_plotted on log scale (Source: Yahoo Finance)
10 comments:
if bullish about china, why not buy direct in Hong Kong market !
Leave ETF for the BIG FUND.
What HK stocks or H-share would be best to go in now to ride on the Chinese bull? Any stocks under your radar, Alex?
Alex,
PJI moved up yesterday on pretty heavy volume.
More to come you think?Appreciate your thoughts
hi alex,
do you have any idea what's going on for TAGB?
thanks
maxwealth88
Dear Alex,
Can you please tell which code name in yahoo finance represent the actual xinhua 25? I did a search on yahoo finance and quite a number of similar names appears.
Thanks!
Hi KC
If one is bullish on China, one can do many things, including buying Chinese stocks in HKEX or SSE. However, many investors do not have the time & resources to do so. I think CIMBX25 is a good way of doing it. It will not be zooming up like a rocket but it will get you there in good time.
HI JY,
I don't track Hong Kong stocks, except HKEX & HSBC. HKEX has turned bullish last week. HSBC, which has just surpassed the horizontal resistance at HK$83, is about to rally.
Hi Richard
I am not familiar with PJI. Please check on the financial statements.
The chart seems to be positive. Its immediate resistance is at RM0.14-0.15, while the support is at RM0.10-0.11. If it can break above the RM0.15 level, it may test the next resistance at RM0.17 & then at RM0.20-0.21.
Good luck.
Hi MaxWealth88
I posted on TAGB 3 weeks ago. I did not hear anything. My interest was pricked by the big volume which accompanied the rally in TAGB-PA in mid-September. This is normally a sign that the stock is about to go as insiders tend to buy the cheaper instrument to ride on a play.
The other stock which I noticed the same pattern was IJM when IJM-wc rose steadily on big volume over the past 4-5 weeks. Again, we can now see the start of the upleg for IJM.
Hi Steve
I know what you mean. You want to get the chart for FTSE xinhua 25. I can't find it. I did find the iShares FTSE/Xinhua China 25 Index (FXI). For that chart, go to iShares FTSE/Xinhua China 25 Index (FXI) .
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