China Hongx 150409

If you had followed my analysis on 09 apr, you would have been able to catch China Hongxing as it surged pass the 0.130 resistance (blue ...) yesterday. Volume done today (179m) was the highest since 23 mar (184m). A massive 419 trades with a total of 112,503 lots were done at the 0.150 level, with with more than 2/3 being buy ups. A total of 20,933 lots were done at 0.155, with all being buy ups.

Since China Hongxing has broken the price from where it plunged (0.135 on 24 feb), this has now become the support for China Hongxing, as indicated by the uptrend support (mid blue) and also the downtrend support (mid pink). The 0.150 could be the immediate support as almost half of the trades today were done at this level.

If China Hongxing manages to break the 0.155 resistance (blue --), there's still 2 more small resistances at the 0.160 (red --) and 0.165 (green --) levels. However, if these 2 resistance break as well, the next resistance could be seen at 0.180 (lightblue --).


For tomorrow :

Support @ 0.150 (upp blue), 0.145 (pink --), 0.137 (mid blue), 0.135 (mid pink), 0.130 (blue ...), 0.125 (lightblue ...), 0.120 (red ...), 0.118 (low blue, low pink)

Resistance @ 0.150 (upp blue), 0.153 (upp pink), 0.155 (blue --), 0.160 (red --), 0.165 (green --), 0.180 (lightblue --)