Benchmark (2010-07-30 HSBC analysis)

Unfortunately 21 Holdings plunged 6% today, making us not able to long it for potential double profits. But this stock would be in my watch-list anyway.

Today let's check the largest HSI component --- HSBC (0005.HK).



HSBC pulled back a bit today after a small false breakout, but is still following the bullish trend. It still maintains in the two pitchforks. The support area would be at 77.9 - 78.6, this is a good long zone if HSBC drops to this area in next two days. Then it is likely to have a real breakout this time.