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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.

Saturday, October 11, 2008

China Hongx 101008

China Hongxing closed right on the downtrend support (low grey) today. After our discussion on 7 oct, China Hongxing broke the 0.245 support (pink --) the next day.

We should see Ching Hongxing trading sideways for the time being, with the upside capped by the downtrend resistance (mid grey).

If China Hongx breaks the 0.200 support again, we could see it testing the 20 feb 2006 low of 0.162.

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For monday :

Support @ 0.190, 0.185 (low grey), 0.162
Resistance @ 0.200, 0.220, 0.231 (mid grey)
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