China Hongx 190908

What a week it has been for China Hongxing ! Started the week below the 0.285 neckline (green --), then hitting the long term downtrend support (grey ...) on 16 sep, before rebounding to break the long term resistance (mid grey) today.

However, China Hongxing is still not out of the woods yet as it still has not broken the 0.315 neckline (red --) and long term downtrend resistance (upp grey). In order for China Hongxing to break these 2 resistances, it would have to maintain its uptrend momentum and at least trade above the long term downtrend (now)support (mid grey).

If China Hongxing fails to do that, we could see it revisiting the 0.285 neckline (green --), or even the 0.270 neckline (red ...).



For monday :

Support @ 0.315 (red --), 0.300 (mid grey), 0.285 (green --), 0.270 (red ...), 0.254 (low grey)
Resistance @ 0.315 (red --), 0.335 (upp grey), 0.355 (pink ...), 0.370 (lightblue ...)