Other than China Cosco (2010-10-07 CSCL analysis)

As I mentioned in last post, 1919.HK has surged too much, making it not worthy enough to buy. I have found another similar stock, which also broke resistant yesterday, and there is still some room to further surge.



Above is daily chart of 2866.HK CSCL. As we could see, it just broke the green pennant to the last high (the starting point of the pennant). This resistant stopped the price from going to a higher level. However, mostly breakout of pennant would lead the stock price to levels higher than the beginning of the flag. So I predict that CSCL would continue till the next fibs level at around 3.34. Potential return would be around 10%, which is much higher than that of China Cosco (1919.HK).