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.

Saturday, April 26, 2008

China Sky 250408

Although China Sky opened above yesterday's closing price, it couldn't break the downtrend resistance (upp red) and came to a whisker of testing it.

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Volume today was less than half of yesterdays, and we also saw China Sky closing right on the uptrend support (mid green), after it had tested the 1.14 support (light blue --).

We might see China Sky trading sideways next week, with 1.14 being the immediate support (light blue --). If that breaks, the next support would be at 1.10 (green --).

For monday :

Support @ 1.14 (light blue --), 1.10 (green --), 1.06 (low green)
Resistance @ 1.176 (mid green), 1.203 (upp red), 1.25 (upp green)

Good Luck !!
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