Cheung Kong (0001) – Leads HSI Flying Higher? September 27, 2006
Posted by Michael in Hong Kong Stock Market.trackback
Can Cheung Kong (0001) leads HSI to higher high? Will Li Ka-Shing sell his stakes on 0001 when a certain price level is reached? When will it happen?
Li Ka-Shing added his stakes on 0001 from June 2005 til May 23, 2006. Here is the latest filing:
| Total number of shares | Percentage figure (%) | |
| Long Position | 903,391,744 | 39.00 |
Noticeably, on the same time, Templeton Global Advisor decreased its stakes on 0001 while Li Ka-Shing added up his stakes Here is the latest filing, dated April 28, 2006:
| Total number of shares | Percentage figure (%) | |
| Long Position | 138,777,684 | 5.99 |
By looking on the chart, seems like 0001 is forming a double top since early of September. $87.45 is the highest high for this double top formation.
It is interesting to see if 0001 can move higher while the market still have the momentum to leap higher OR 0001 can be one of the locomotives to lead HSI move higher.
$84.90 is a good price confirmation for uptrend swing while $83.50 is a crucial support level.
Click here for Cheung Kong (0001) daily chart and latest price quote: http://www.aastocks.com/eng/StockQuote/default.asp?symbol=0001
