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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, February 28, 2009

China Hongx 270209

Third time China Hongxing tested the 0.105 level (green --) since 24 feb. Volume has also been decreasing since. Most of the trades were done at the 0.110 level (46m with 20m selldown and 26m buying up).

We could be looking at China Hongxing trading between the 0.105 support (green --) and 0.115 resistance (pink ...) for the near term. It could be some time before we see can see any chance of a recovery for China Hongxing.

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For monday:

Support @ 0.105 (green --), 0.100 (upp red), 0.085 (mid red)
Resistance @ 0.115 (pink ...), 0.130 (low pink), 0.145 (pink --), 0.160 (upp pink, blue ...)
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