Quick profits (2011-06-10 Tanrich Financial Holdings analysis)

Yesterday HSI was down again, but wasn't too much. We could see there was a strong buying force at around the support.

So is there any opportunity for quick money?

Daily chart of Tanrich Financial Holdings (0812.HK):


The principal activities of the Group comprise: wealth management, brokerage and margin financing, insurance agency, corporate finance, asset management, money lending, and proprietary trading. (from aastocks.com)

Starting from last September, this stock has surged from around 0.3 to almost 2.0 today! It's a great boost, isn't it?

However, following the long white candle yesterday, it attracted my attention to see whether it could keep its up-trend.

We can see that the price breaks the previous high, and closed at the high. This signals an extremely strong bullish force for the stock.

This might be a chance to grab some profits. If corporate investors who hold lots of shares want to push the price upwards, the price should at least be higher than the previous high for around 10%. But the risk is that they are going to sell after a sharp push, so we have to be absolutely careful. Set a stop gain, and leave quickly.

Good luck.