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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, April 10, 2009

China Hongx 090409

The last time China Hongxing tested the 0.130 neckline (blue ...) was back in on 25 feb. Afterwhich, it went tumbling and hit a low of 0.060 on 12 mar. We could see some resistance at the 0.130 neckline for the coming week.

If China Hongxing can maintain trading within the uptrend channel (blue), we could see it test the 0.130 neckline again. Or it could trade sideways between 0.12o (red ...) and 0.130 as it attempts to build a base. Any break in the 0.130 resistance could see China Hongxing test the 0.145 neckline (pink --).

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For monday :

Support @ 0.122 (mid blue), 0.120 (red ...), 0.115 (pink ...), 0.110 (lightblue --), 0.108 (low blue, low pink), 0.105 (green --)

Resistance @ 0.130 (blue ...), 0.135 (upp blue), 0.145 (pink --), 0.155 (blue --)
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