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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.

Tuesday, February 24, 2009

China Hongx 240209

The last time China Hongxing hit past the 200m volume was way back on 13 apr 2007. when it was still trading in the 70+ cents level. Now, it's in danger of falling below the 10 cents level. What a difference a week makes!

If it's any consolation, most of the volume was done at the 0.115 level (31m selldown, 42m buy up). I guess it's going to be very difficult for China Hongxing to even return to the 0.160 level (blue ...), which is from where it started free-falling.

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For tomorrow :

Support @ 0.115 (pink ...), 0.105 (upp red), 0.09 (mid red), 0.075 (low red)
Resistance @ 0.135 (low pink), 0.145 (pink --), 0.160 (blue ...)
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