Stock Watch

2012.01.27 10:12:20
Stock Analysis

Stock : WHARF HOLDINGS ( 00004 )

Suggestion : $44 ( Buy )
Target : $49.2
Resistance : $46.1
Support : $40.25

Reading from the trend of the share price, 10-day moving average is now at $40.25. 50-day moving average is at $37.65. 10-day line jumps over the 50-day line and unveils a buying signal. Meanwhile, RSI-14 is 76. Before RSI unveils over-bought signal, it is likely to trace further upward trend.

Analyzing the share price movement, the previous high ( 1/8/2011 ) is at $59 and the recent low ( 20/12/2011 ) is $33.25. Measuring from the recent low, Fibonacci 0.382 retracement is $43.08. 0.618 retracement is at $49.16. It jumps over the 0.382 retracement, and noses 0.618 retracement. However, Local property developers flex their muscles as scenario improves.

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