Hang Lung Properties (HK): major trend breach

| December 23, 2013 | 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 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