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Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Tuesday, December 18, 2007

China Sky 181207

I have removed the 3 red downtrend lines as they are no longer relevant since China Sky is currently trading above them.

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I've added another trendline (parallel to the red downtrend), joining the lows of 13 and 16 nov. You can see that this trendline also touches the lows of 13 and 18 dec.

China Sky once again broke through the uptrend support (lower blue dashed), and almost touched the downtrend resistance line (red dotted - parallel to red line, which I've also just added.)

If China Sky can stay above 1.90 (lower blue dashed) AND there's volume AND it breaks the downtrend resistance 1.95 (red dotted), we could see China Sky reversing its downtrend.

Tomorrow's support @ 1.82

Good Luck !!
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