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, August 23, 2008

China HongX 220808

After testing the 0.350 level thrice this week, China Hongxing managed to trade above the 0.355 support (pink ...). However, we still see China Hongxing unable to break the 0.375 resistance (lightblue ...).

We could be looking at China Hongxing trading sideways between the 0.375 resistance (lightblue ...) and 0.355 support (pink ...). We could also see some action towards the end of next week when the 1st long term downtrend resistance (mid grey) meets the 0.375 resistance.

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For monday :

Support @ 0.355 (low grey, pink ...), 0.330 (upp red), 0.310 (low red)
Resistance @ 0.375 (lightblue ...), 0.395 (mid grey), 0.405 (lightblue --), 0.425 (red ...)
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