Bullish Bank (2010-08-06 CCB analysis)

Above is the daily chart for China Construction Bank (0939.HK). Although the price broke the pennant, it was not accompanied by surged volume. Therefore, the price did not show a crazy rocket. It is currently testing the 61.8%-fibs level which seems to be a hard resistance. If this level breaks, I expect that it would rise till at least 7.26.

And in late Jun, we could see that 50SMA crossed 250SMA from above, leading us to question whether the trend is going to reverse or not. However, the 50SMA crossed back 250SMA from underneath, ensuring us that the bullish trend is yet to end.

Bounce back (2010-08-05 USDCAD analysis)

Let's see the 4H chart of USDCAD. It has just touched the support line and the downtrend line. It is likely to have some rebounds, but will be resisted by the cyan pitchfork. Looking at the MACD and EMA, it seems that it will break the resistance and break upwards, there would be pretty big surge for USDCAD.

Important Economic Data (2010-08-04)

Important Economic Data this week:

5/8 (tomorrow)
GBP Bank of England Rate Decision (AUG)
EUR European Central Bank Rate Decision (AUG)

6/8 (Friday)
CAD Unemployment Rate (JUL)
USD Change in Non-farm Payrolls (JUL)
USD Unemployment Rate (JUL)

Volatility might surge next two days. Good luck.

Downtrend Gold (2010-08-04 Gold analysis)

Any chance for gold breakout? I could not find any... One possible chance is to be accompanied by a big bearish stock market I believe. Downtrend would probably keep going on.

Nice Day and Small Wrap Up (2010-08-03 Summary)

361 Degrees (1361.HK) just simply broke the resistance at 6.0 and surged all the way up to 6.15. I bought 7000shares@6.05 after confirming its trend upwards this morning. It looks like that it would reach 6.7, and this would be the very strong resistance. See my previous analysis on it here: Breakout? (2010-07-27 361 Degrees analysis)

And among the two small stocks I have recommended so far, finally one rasied crazily. It was (2310.HK) Kwang Sung Electric. I would be quite optimistic on this stock and the next target would be at around 0.70. See my original post here: Small Stock (2010-07-06 KwangSung Electric analysis).

Good trade everyone. Would share whatever I got. Please keep supporting me and let's share ideas with each other to learn and improve ourselves!

Another Clue for HSI (2010-08-02 HSI analysis)

Luckily the market opened up today, otherwise I might have followed the clues by SMA and bought some bear. The 10 and 20SMA did not cross beautiful, but the 10SMA moved back upwards, forming a whipsaw.



One thing worth mentioning is that the MACD is testing its resistance the third time. This might be an important indicator showing whether HSI could further surge to new high in these weeks.

Ready for Plunge (2010-08-01 HSI analysis)

Well, it just doesn't look good for HSI. Let's take a look at the Hourly chart.



The 10 SMA has just crossed 20 SMA from above. If the cross confirms which means HSI drops on Monday, checking the past data, it would most probably (there was once that the index didn't drop after the cross) be followed by a plunge in HSI for at least few days.



Back to the daily chart, our expectation on the drop would be somewhere around the edge of triangle, which is at around 20,400. This would be a buy area for a rebound.