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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.

Saturday, January 5, 2008

China Sky 040108

I've shifted the uptrend channel (light blue) downwards to touch the low of 4 jan instead of 3 jan. If China Sky fails to maintain its uptrend momentum, there is a small possibility that it may fall into the downtrend channel (red), like what it did from Oct to 24 dec. It only managed to break out of this downtrend channel on 26 dec.

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Monday's support of 2.06 could prove important as it is where the 2 uptrend lines (blue dashed and light blue) meet. If this breaks, the next important support would be @ 2.016 (the downtrend resistance - red). Afterwhich would be @ 1.95, the uptrend support (blue dashed).

Resistance @ 2.175 (upper light blue), then 2.22

Good Luck !!
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