China HongX 110608

After breaking the 0.580 support (blue --) on 6 jun, China Hongxing gapped down on opening at the beginning of the week. China Hongxing even broke the 0.535 (light blue --) and 0.520 (pink --) supports.

China Hongxing closed right on the downtrend support (low pink) today, and just below another downtrend support (low red). China Hongxing is now very close to the long term downtrend support (low grey) and the 0.485 support (red --). If these 2 supports break, we could see China Hongxing hitting the low (0.405) of 20 mar again.



For tomorrow :

Support @ 0.495 (low blue, low red), 0.487 (low pink), 0.485 (red --) 0.4835 (low grey)
Resistance 0.520 (pink --), 0.525 (upp blue), 0.535 (light blue --), 0.550 (mid pink)

Hope you find my analysis helpful. Thank you !!