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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.

Friday, October 3, 2008

China Hongx 031008

China Hongxing formed a Gravestone Doji today. The last time China Hongxing formed 1 was back on 28 aug. During that time, China Hongxing was trading sideways, after going on a downtrend the weeks before.

The next few days saw China Hongxing recovering but after hitting the 0.405 resistance (lightblue --), it weakened considerably and China Hongxing eventually hit the 0.245 support (pink --).

Looking at the chart, even if there's a rebound for China Hongxing, I feel the upside would be limited to the 0.315 resistance (red --).

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For monday :

Support @ 0.285 (green --), 0.270 (red ...), 0.255 (mid grey), 0.245 (pink --)
Resistance @ 0.293 (upp grey), 0.312 (grey ...), 0.315 (red --), 0.335 (blue --)
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