Friday, September 14, 2012

Hong Kong Stock on CFD - HUABAO INTL

Check out our Previous post on China Telecom, we are still monitoring

Today i did a scan on HKSE stock again, as I am looking for something Trendy, Bullish, not too volatile(big up big down) this stock HuaBao Intl caught my eye. This stock has been running on a downtrend since early 2011, the good thing is it has stopped going down since Apr and has been sideway till August. On the chart above i drew a box showing that recently it break out above the resistance. The resistance turned support level is at $4.00, now the price is $4.20. Good entry will be $4.00-$4.20 area. Stoploss $3.50. Timeframe >2week

Margin Req in phillipCFD: 30%
HKD/SGD = 6.311