Tuesday, May 20, 2008

HSBC chart using chartnexus!

Below is the chart for HSBC. I looked at the chart after I updated a newer version of chartnexus today. Now they even include HK stocks :) Amazing..and it's free too :) To all the guys/gals at chartnexus, thks for all the great work!

As mentioned in previous charting of hsbc, there is a rising wedge. But as I looked at it today, I realised that it didn't really breakdown as the pattern indicated. Instead, the price seems supported by ema20d and is also resisted at around 137.

Break below 137, I think we can expect more downside, at least for the shorter term. Break above 137, esp with high volume, we can see a uptrend.