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, July 31, 2008

China HongX 310708

Today was T + 5 (from 23 jul) and we saw China Hongxing breaking the 0.485 support (light blue ...). As you can also see from the chart, China Hongxing's peaks have been lower since its high on 24 jul.

We could still see China Hongxing trading sideways between the 0.485 support (light blue ...) and 0.495 resistance (pink ...), provided it doesn't break the 0.475 support (red --). Considering that tomorrow is a Friday, and it's another T + 5 day for those who bought on 24 jul, testing or even breaking the 0.475 support (red --) isn't impossible.

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For tomorrow :

Support @ 0.475 (red --), 0.465 (mid grey), 0.460 (green --), 0.450 (blue ...), 0.440 (blue --)
Resistance @ 0.4835 (blue), 0.485 (light blue ...), 0.495 (pink ...), 0.500 (upp grey)
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