Hang Lung Properties (HK): pending trend reversal

| August 25, 2014 | Hong Kong
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Company profile: Hang Lung Properties Limited, through its subsidiaries, invests in, develops, and manages properties. The Company also manages parking lots.

With significantly improving indicators and a golden cross in the MA’s, buyers have a good chance in triggering a long term trend reversal. A slight dip before the trend line of 2010 is allowed; as long as new support at 24.50<>24.35 holds out the focus is to the upside.

Buy dips and/or breakout above 26.30.

  • Primary trend: neutral/basing
  • Outlook: trend reversal above 26.30, buy breakout
  • Support: 24.50 / 24.35 / 22.95-
  • Resistance: 26.30 / 31.27* / 31.80 / 36.38*

Monthly chart Hang Lung Properties (HK:101)

101HK_25aug2014

23 December 2013

With the completion of a H&S reversal formation on the weekly chart, sellers have pushed prices below the primary trend line of 2003. This is a huge deterioration in the long-term outlook with steady declines likely to bring prices back towards ~20 and even the 14.50<>14.30 zone over the next 12 month period. Focus is on the down side as long as 26.35 holds out.

  • Primary trend: negative
  • Outlook: negative, sell/avoid
  • Support: 21.34 / 19.97 / 14.50*
  • Resistance: 26.35 / 32.10

Monthly chart Hang Lung Properties (HK:101)

hang lung_23dec2013

 

Tags:

Category: Hong Kong