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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.

Tuesday, August 19, 2008

China HongX 190808

After failing to break the long term downtrend resistance (mid grey), China Hongxing has now weakend considerably and has now broken the 0.405 support (lightblue --). China Hongxing also closed below the long term downtrend support (low grey) today.

The last time China Hongxing was trading around the 0.350 level was way back in nov 2006. If China Hongxing doesn't rebound or recover above the downtrend support (low grey) soon, we could see it testing the next support (low red).

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For tomorrow :

Support @ 0.350, 0.300, 0.2882 (red)
Resistance @ 0.375, 0.405 (lightblue --), 0.415 (mid grey), 0.425 (red ...)
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