Bearish but a good stock (2010-02-04 HSI, 2899.HK analysis)

On 29-01, the graph suggested that the market would have a little rebound before a great drop. The rebound had finished these few days, and the tumble has begun. Today's analysis further supports such prediction. At around 19,800, there would be a small support, but it would probably be penetrated. Then the next big support would be at 18,800.



So for those who want to be in long position, please do choose a good stock which would be more likely to move in reverse way. I would suggest one of those: Zijin Mining (2899.HK). Let's see the below.



Both the fibonacci retracement and the lower down-trend line support the price for Zijin Mining. This is a very strong place to be broken through. The price is more likely to go up to at least to 7.5. Though the market might be in bearish, price of Zijin Mining could be brought up by the rocketing of Gold Price.