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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, August 14, 2008

China HongX 140808

China Hongxing's fate took a dramatic turn for the worse at the beginning of the week, breaking several supports along the way, before closing at the 4 jul low of 0.415. It also seems to have found temporary support at 0.405 (lightblue --).

China Hongxing's recovery has also been limited by the downtrend resistance (mid grey) and 0.425 resistance (red ...). We could be looking at a double-bottom for China Hongxing, but it would first have to break the 0.440 resistance (blue --).

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For tomorrow :

Support @ 0.405 (light blue --), 0.360 (low grey)
Resistance @ 0.425 (mid grey, red ...), 0.440 (blue --), 0.450 (blue ...), 0.455 (pink --)
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