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Morgan Stanley China A Share Fu Message Board

  • justasklee justasklee Sep 9, 2013 2:23 PM Flag

    Mike’s MPTrader Mid-Day Minute

    Mike has posted Mid-Day Minute on MPTrader site: China Equity Markets Show Some Buoyancy - The Morgan Stanley China A Share Fund (CAF) has climbed from its June 24 low at 18.21 to this morning’s pre-open high at 22.80, or plus 25%, which has propelled the fund above its flattening 200-day EMA for the first time since early June.

    More importantly, however, is the massive-support plateau that has developed between 18.64 and 17.68 during the past 20 months that also represents a potentially-powerful base formation as well.

    Purely from a big-picture pattern perspective, my work argues strongly that CAF established a significant bear-market low at 17.68 on Sept 5, 2012, with the first upleg of a new-bull phase ending at the Feb 15, 2013 high of 27.90.

    If my pattern work proves accurate, then CAF ended a deep correction of its initial upleg at the June 24 low, and since then has been in the early stages of a new-bull move that should revisit and hurdle 27.90 in the upcoming weeks and months.

18.15+0.020(+0.11%)Jul 25 4:02 PMEDT