Barton's Global Market Trends .......................................................................................................................... Disclaimer ; Glossary
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China and Hongkong
Index and stocks bottom - good chance of market
rally
6th February: All signs
suggest that the index and many stocks are bottoming.
 |
Charts current to 3rd February,
except where otherwise indicated
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The index is approaching target
at 21,000.
Small bottom in green with
rising volume gives target of around 24,000 with resistance around
22,000.
Weekly bottom points to around
23,000. Resistance slightly below.
Channel resistance in pink.
Support in orange.
A small bottom in pink. Breakout
from 71 on strong volume would suggest a rally to 85.
Also bottomed with a bit of rising volume.
All the signs of a potentially
explosive bottom: strong volume since January.
Yet another bottom breakout.
Double bottom scenario in green
with resistance at around 5.1.
PE Chart below current to 31st January.
PE of 9 is pretty
close to the historical low.
Source: hsi.com.
Source: hsi.com.
Charts below current to 28th October.
Possible channel in orange.
Charts below current to 7th October.
Very good support from now to
15,000. I would not expect this support to fail.
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