(Bloomberg) -- The emergence of a “rising wedge pattern” may trigger a decline of up to 4 percent for the Hang Seng Index, according to technical analysis by CIMB Group Holdings Ltd.
A rising wedge pattern refers to a trading range on a chart that begins wide at the bottom and contracts as prices move higher. The Hong Kong benchmark index has been climbing in that pattern since August when the gauge dropped 4 percent after rallying 81 percent since the March low, according to data compiled by Bloomberg.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a6eLCACnI_zg
No comments:
Post a Comment