Following concerns over Chinese mainland policies to curb rising prices, many Chinese properties counters are starting to exhibit bearish trends (most notably, HK-listed Sino-Ocean, Guangzhou and local-listed Yanlord). This could mark shorting opportunities for these stocks, as their buyingsentiment dampens.
Of these, Yanlord seems promising to short, as it just broke below its 200-day MA but struggles to stay above its 50-week MA. A potential short entry, playing on the property price rise curb theme could be:
Short Yanlord: 1.88 (below 50-week, and $2.00 psychological support)
SL: 2.28 ( above 50-day MA)
TP1: 1.48
TP2: 0.68
Will wait and see if price pans out over the next few days to my shorting level.
Monday, January 18, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment