Disclaimer

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.

Thursday, April 24, 2008

China HongX 240408

China Hongx opened opened above the 0.650 support (blue --) and downtrend resistance (low red) today.

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China Hongx also broke the uptrend resistance turned support (mid blue), long term downtrend resistance (mid black), and also went on to test the 0.720 resistance level (red --) and uptrend resistance (upp blue).

The break out today was also accompanied by a new high in volume.

If China Hongx opens above the uptrend support (mid blue) tomorrow, there's a high chance we might see China Hongx test the 0.720 resistance level (red --) again.

If China Hongx breaks below the downtrend support (low red), we might see it consolidating at the 0.650 support level (blue --).

For tomorrow :

Support @ 0.708 (light blue), 0.685 (mid blue), 0.681 (mid black), 0.662 (low red), 0.650 (blue --)
Resistance @ 0.720 (upp red, red --), 0.732 (upp blue), 0.762 (upp black)

Good Luck !!

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