Category: Money tips Release Date: 2006-04-29
Source: Morgan Stanley Investment
Broader market rebounded yesterday, after the deep bottom pieces of early today, the two cities were slightly higher opening, indicating the market sentiment has begun to gradually stabilized, and then tape at a high level of basic shock, Shenzhen market slightly, closing contraction.
Today, the yuan central parity against the U.S. dollar reported 7.6398, another record low, in the accelerated appreciation of yuan against the background of macro-and long-term trends in the securities market is still relatively good, but in the short term the market is still a short-term technical Fanchou after the crash, the market did not form a clear Toronto Canada, including the pre-popular theme of the leading brokerages in Nanjing Hi-tech stocks, only, the new venture Lake, Pearl River Holdings a stronger and a few other stocks in the absence of a clear case of leading the broad market rebound hot space is limited, 5 moving average near 3850 would constitute a significant pressure.
From the disk of view, coal, nonferrous metals, and real estate performance is expected to grow more prominent blue chips among the biggest gainers today, and growth factors still to become an important basis for recent market stock picking. The other is some serious oversold stocks suffer a technical rebound, in terms of grasping the whole process of oversold rally concern about the fundamentals of listed companies is important. In particular, in June interim results of listed companies began to notice soon start, as today's interim results notice the growth of Jiangxi Cement, Jiangnan High Fiber are all performed well, mid-year report by the pre-subject is being more and more attention by the market, investors may try to its growth factors have been concerned about the collapse of some short-term market potential of victimizes species.
On the midline of the trend depends on K-line this month, and if so received Yinxian greatly increases the possibility of mid-course adjustments, from the broader market this month, are not optimistic about the current state of the stock market. Online has been on the medium-term adjustment of signs at the top once the construction phase completed, according to experience, at least 3 months or so to adjust, is still considered low at about 2800 points, -3,000, this data is a simple callback rise by half From 998 up to 4330 or thereabouts, it's gained 3332 points, callback, then half of 1661 points, it was in 2800 or thereabouts.
Quotes are not optimistic about the reasons for the short-term technically have five points:
First, policy and technology last week, the stage resonance created on top of the previous two weeks, the turnover can be seen, above the Shanghai in 4100 reached 2.415 trillion traded two weeks, especially last week's drop in volume 1.2633 trillion, is the history of the most volume, average daily turnover of 252.66 billion, the volume is phase one of the characteristics at the top.
2 is the K line is two weeks Lianyin this week, if the income yin, then the possibility of establishing a larger stage at the top. 3 weeks-line indicator KDJ Sicha down, MACD's Hongzhu shortened from 144.7 shrink to the current 41.3, white line down there with the yellow line Sicha signs, this pay attention to, once Sicha the broader market had to adjust a few weeks, is not necessarily an immediate crash. On-line KDJ also Sicha, these indicators go bad, do not support a substantial increase Quotes.
4 is 5-day moving average has been 30 days beneath MA, 20-day moving average has been down for two days, which is the medium-term trend. The current average and the February 6-there are similarities, concerns will not appear like the market, we think the possibility is too small.
5 is to look at a lot of stock in the first quarter earnings, and then take a look at the high price of its prohibitively high price-earnings ratio does not support the current share price. Coupled with the advent of semi-annual report is certainly a lot of mine!
