HSBC Bank
Weekly
Price: we are touching the lowerbank of this upstream moo river, there is no way to turn now, either a big fall out of this upstream moo river, or shoot up to 570ish to challenge the boundary of this bull flag. I am sure every chartist in the world can not ignore that this is one very well-shaped bull flag. If we can break 570ish, we are talking aoubt a challenge to 650ish pence a share.
RSI: we are stuck and we have filled in the triangle between the downstream upperbank and the upstream lowerbank with some intricated shape, which looks like a W in the making. At a value of 47.5, the potential is there to take the market by surprise to the upside. And this is the first meandering of this upstream moo river, so I am expecting that there should some more upside to come. (gradually, I am sensing a moocanic week coming up.)
Let's wait and see. Last time, the first Moocano watch I did was on Japan, it has obliged since to reach 10000.
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similar things can be said about Barclays and Lloyds as well.
ReplyDeletewith China announcing a freezing of short term selling of blue chip companies by pension funds etc for three years till 2012, the Chinese Moocano might erupt to attack 3000 with aggression.
I am suddenly feeling more bullish than before. A good night in Asia will wake up many western bears with a huge hangover.
While I think the top might be around 2nd July, it could come early as well.
and to a lesser degree, Standard Chartered as well, but not for RBS.
ReplyDeleteI hope it is not one of the Chinese banks coming to town for a shopping spree!