My article last month “Political crisis and opportunity in Hong Kong” saying that Haitong’s share price dropped till an attractive level between HK$2 and HK$2.10 at a weekly RSI of 30. Due to the political crisis in Hong Kong and bad results reported last year by Haitong. This is a golden opportunity that only comes once in a few years  to invest in Haitong at such a low price. And chances of the rebound is high, if the half-year result is better than last year.

On August the 23rd, Haitong International announces 2019 Interim Results, net profit attributable to shareholders at HK$1.039 billion, an increase of 20% compare to same period last year. Basic EPS at HK$18 cents and proposed an interim dividend per share of HK$9 cents.

With the better than expected interim results, Haitong has started its uptrend to hit my first target of between HK$2.7 and HK$2.8,