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HSI big breakout says 38,600 & 46,400 - BofAML
BofA Merrill Lynch reiterated its view that Hang
Seng Index (HSI) as one of the bullish global equity market ideas for 2018. The index
closed above its 2007 peak of 31,958.41 last week.
  From technical perspective, the research house said the breakout from a decade-long big
base on the move above the late-2007 downtrend line and the 2015 high is a secular bull
market signal that favors upside to 38,600 and toward 46,400 longer-term.
  Holding above support at 30,200-28,135 keeps the bulls in firm control. The rising and 
bullish weekly MAs (closed last week at 29,675-27,573) underpin this chart support.
  The 10-year big base and secular bull market breakout remain intact while above
28,800-28,000. The Hang Seng already re-tested the breakout and may not need to see the
28,000 level again.

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