China Hongx 060109

China Hongxing broke the 1st uptrend resistance (mid blue) yesterday with volume, and tested the 0.215 resistance (blue ...). It just about continued its uptrend today by breaking the 2nd uptrend resistance (upp blue).

Volume today was about 62m (3/4 of yesterday's) with about 41.8m done at 0.205. It remains to be seen if this uptrend could be sustained, or would it be just like what happened on 9 dec - where China Hongxing's 'rally' was over in just about 3 days.

Any upside could be limited to the 0.230 resistance (red --), which was the high reached on 10 and 11 dec,before China Hongxing went sliding down to a low of 0.180 on 23 dec. The 0.205 support (green --) looks good for the time being.


For tomorrow :

Support @ 0.219 (upp blue), 0.217 (upp pink), 0.215 (blue ...), 0.210, 0.205 (green --), 0.200 (blue --), 0.196 (low pink), 0.190 (lightblue --)

Resistance @ 0.225 (pink --), 0.230 (red --), 0.235, 0.245 (pink ...)