Breakout? (2010-07-27 361 Degrees analysis)

The first data was announced, stating that Consumer Confidence in US dropped to 5-month low, which brought a stop to the strong bullish in US markets. For Hong Kong traders, becareful of a correction due to this data in HSI.

Following my post recommending 361Degrees (1361.HK) on 2010/07/26 High Potential, the stock surged 3.9% to 5.80, which broke the triangle with increased volume.



But we have to wait for 2-3 days until confirming its bullish trend. I suggest you to sell some of them for little profits, and look for potential rise. If breakout confirms, I would aim as high as 6.7 which is last high or even 7.0 as estimated by Fibs projection.