HSBC pointed out that the third quarterly recurring profit of COSCO PACIFIC (01199.HK) +0.040 (+0.395%) Short selling $591.80K; Ratio 1.458%
increased 8% to US$87 million year-on-year, which was 4% lower than
estimates. The strong terminal business performance was offset by a weak
leasing business. HSBC lowered the projected earnings of Cosco Pacific
in 2014 to 2016 by 4%. It also expected the CAGR of the company in 2014
to 2016 will be 11%. The target price of Cosco Pacific was dropped from
$13.1 to $12.5, maintaining the rating of Overweight.
Shanghai Pechem (00338.HK) Trading Sell Last price: HK$2.43 Resistance: HK$2.60 Support: HK$2.27/2.13 Shanghai Pechem closed lower at HK$2.43 in a long dark candle yesterday, short of the 0.38x retracement level at HK$2.41. Given that the Slow Stochastics has breached the previous low and the MACD is under the centreline, the stock is likely to test the 0.5x retracement level at HK$2.27. If the stock breaches this support, it will then test the 0.62x retracement level of HK$2.13. Expected Timeframe: 2 weeks to 2 months Wisdom Group (01661.HK) Trading Sell Last price: HK$5.47 Resistance: HK$5.65 Support: HK$5.22/4.96 Wisdom Group gapped down to re-enter the moving average envelope yesterday on strong volume. With reference to the downside bias of both the Williams’ %R Indicator and the ROC, we expect the stock to test the moving average of the envelope at HK$5.22. If the stock crosses below the moving average of the ...
Comments
Post a Comment