BOUGHT +83 CAF @24.02
Morgan Stanley China
Upside: News #1:Central banks act to calm markets (financials go up). News #2: China steps in to prop up stocks (China go up). And CAF chart looks good.
Resistance: $25 from 2 days ago, then $30.
Downside: It’s a financial! And investment bank at that! No telling what mass panic could cause…
Support: $22.25 from 2006.
Bottom Line: With the mass fear in Financials (doom’s day-like media headlines here in Hong Kong), I believe we’re near for a short squeeze rally in the market.
Target: Some kind of big spike. I’ll sell into strength. Or $30. I do want to hold this for a few weeks if possible.
Stop: 2 day consecutive close below $22 and fade out of buy signals. Gotta watch this one close.
Fee: $5.00
Related posts:
Recent Comments