Stockpicks Hong Kong marketHello guys, I am currently in Hong Kong so that I will do a few stockpicks for you after the Chinese lunar new year.
Skyfame Realty (0059) is an undervalued stock, according to VectorVest. Its value to be 7.32 by VectorVest calculation yesterday.
Let's see some previous history data:
01-Mar-18 RT: 1.72
28-Feb-18 RT: 1.76
27-Feb-18 RT: 1.50
26-Feb-18 RT: 1.50
23-Feb-18 RT: 1.73
Its RS value has been rising above 1.0 (the benchmark) since September 2017. From Sep 2017 to now, this stock has risen about 3 times in just 5 months.
Let's see the chart traditional analysis VS ichimoku side by side.
The left graph easily tells us the a MACD divergence happened at the beginning of February.
Following with the 8 & 20 EMA crossover and MACD crossover. The expected target is near 5.45 (Fib Extension 127.2%, which is still under the VectorVest's calculation.
There is more interesting on the ichimoku and candlestick analysis.
On the day 21st and 23rd Feb, a dark cloud cover and bearish engulfing patterns were formed. It seemed the stock price was pretty stuck at $4.30. We also see the Tenkan-sen overlaps Kijun-sen and they are coincidentally on the top of the green cloud. This is such a strong hint for a strong support level.
If you have your VectorVest program with you, then it tells you that the stop price is $3.91. I know you how to manage your risk on this stock, right?
In conclusion, the stock is trending upward with no fault for short term and long term.
