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, May 24, 2008

China HongX 230508

China Hongx continues to trade in the downtrend channel (pink), closing right on the 0.630 support (green ...) and uptrend support (low blue).

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Would the current sell down be similar to the one during the 29 feb - 20 mar period? If China Hongx breaks the 0.590 support (green --), we might see a similar selldown.

For monday :

Support @ 0.630 (green ...), 0.616 (low red), 0.610 (blue ...), 0.600 (low pink), 0.590 (green --)
Resistance @ 0.635 (low blue), 0.650 (upp pink, blue --), 0.657 (mid red), 0.675 (upp blue)

Good Luck !!
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