False or real breakdown? (2011-12-14 Galaxy Entertainment analysis)

Soon after Fed's speech on US economy, the US markets pared all their gains in the early trading hours and turned to negative. This might be because Fed was not announcing any further policies regarding the poor economy, which could make investors fear.

Hong Kong market probably follows today, which means a further drop. Watch out the level 18,150 mentioned on Monday.

Today I am posting the chart for Galaxy Entertainment (0027.HK).
















The price tried to break down yesterday, we need two more days to know whether it is a false one or not. And if it is a real break down, the fibonacci projection is the estimation using the red flag, though the 100% level looks impossible.

We would have the targets of at least 11.30 and 7.70 once the break down is confirmed.