CHINA SHIP DEV 中海發展股份 (1138) – Good Buy? Follows The Big Players? December 12, 2006
Posted by Michael in Hong Kong Stock Market.trackback
This gonna be a quick post. Been very busy lately with other works but as usual, I will do my best in replying all emails.
Ok. CHINA SHIP DEV 中海發展股份 (1138) has been in my radar screen since last Friday. After the today’s news that Value Partners added its position on 1138, I decided to investigate further and take some spare time to write this post.
Data showed that JP Morgan and VP are adding their position on 1138 lately, but of course, their costs are lower than current market price of 1138. Should we follow the moves of the big players? Fundamentally, 1138 looks fine. It is the matter of the market sentiment and market valuation on this stock. I think so….
Overall, $9.00 seems to be a good and crucial support for 1138. A move over $9.30 can be a good sign that the stock is resuming its uptrend. Let’s see how it goes.
Click here for CHINA SHIP DEV 中海發展股份 (1138) daily chart and latest price quote: http://www.aastocks.com/eng/StockQuote/default.asp?symbol=1138
