China Sky 311008

I think the immediate resistance for China Sky should be around the 0.230 level where the short-term uptrend support (low blue) meets the downtrend resistance (mid red) and 0.230 volume resistance (lightblue --).

If China Sky can maintain within the uptrend channel (blue), it may have a chance of testing the 0.230 resistance.

If China Sky breaks the uptrend support (low blue), next support looks to be around 0.200 (green --).



For monday :

Support @ 0.215 (low blue), 0.205 (low red) 0.200 (green --), 0.180 (upp pink), 0.1416 (low pink)
Resistance @ 0.230 (lightblue --), 0.247 (mid red), 0.260 (upp blue), 0.265 (green ...), 0.285 (blue ...), 0.297 (upp red)

China Sky 300508

After forming a Gravestone Doji on 27 may, China Sky saw heavy volume traded on 29 and 30 may, with support at the 1.03 level (blue ...).

Since the it was a downtrend prior to the Gravestone Doji, we could see a trend reversal for China Sky soon. For that to happen, we would first have to see China Sky trading above the uptrend support (low green), and breaking the 1.07 neckline (green ...).

If China Sky breaks the uptrend support (low green) and 1.03 support (blue ...), we could see China Sky testing the 1.00 support (blue --).



For monday :

Support @ 1.03 (blue ...), 1.00 (low pink, blue --)
Resistance @ 1.035 (low green), 1.047 (upp red), 1.055 (upp pink), 1.07 (green ...), 1.085 (low pink --)

Good Luck !!

China Sky 090508

China Sky seems to have found temporary support at the 1.14 level (light blue --), which is also concurred by the volume distribution bars.



China Sky is still trading within the uptrend channel (green). We might see further consolidation, supported at 1.14, and if this support holds, we might see China Sky testing the short term downtrend resistance (upp pink) or even the uptrend resistance (upp green).

However, if the 1.14 support breaks, we might see China Sky testing the 1.10 support (green --).

For monday :

Support @ 1.14 (low green, light blue --), 1.10 (green --), 1.08 (low pink)
Resistance 1.16 (upp red), 1.188 (upp pink), 1.20 (upp green)

Good Luck !!

China Sky 250408

Although China Sky opened above yesterday's closing price, it couldn't break the downtrend resistance (upp red) and came to a whisker of testing it.



Volume today was less than half of yesterdays, and we also saw China Sky closing right on the uptrend support (mid green), after it had tested the 1.14 support (light blue --).

We might see China Sky trading sideways next week, with 1.14 being the immediate support (light blue --). If that breaks, the next support would be at 1.10 (green --).

For monday :

Support @ 1.14 (light blue --), 1.10 (green --), 1.06 (low green)
Resistance @ 1.176 (mid green), 1.203 (upp red), 1.25 (upp green)

Good Luck !!

China Sky 240408

China Sky gapped up and opened above the 1.14 resistance level (pink --). However, there was selling pressure later on and China Sky closed just 1 cent above its opening price.



We could see China Sky being forced into a corner sometime next week. If China Sky can hold onto its support (mid green), we might see it breaking out of the downtrend resistance (upp red).

If the support doesn't hold, China Sky might revert to the 1.14 support (pink --) or even the 1.10 support (red --).

For tomorrow :

Support @ 1.16 (mid green), 1.14 (pink --), 1.10 (red --), 1.043 (low green), 1.027 (low red)
Resistance @ 1.213 (upp red), 1.27 (upp green), 1.35 (red ....)

Good Luck !!

China Sky 210408

China Sky broke out from the long term downtrend resistance (upp red) with volume today. It also came within 1 cent of testing the uptrend resistance (upp green).



If China Sky can open above the downtrend resistance (upp pink --) tomorrow, there's a high chance it might test the 1.10 resistance level (red --).

For tomorrow :

Support @ 1.013 (low green, mid pink --), 1.00 (blue --), 0.990 (upp red)
Resistance @ 1.05 (upp pink --), 1.08 (upp green), 1.10 (red --), 1.14 (pink --)

Good Luck !!

China Sky 180408

China Sky continued trading within the downtrend channel (pink --) this week. However, it seemed to have found good support at the 1.00 support level (blue --).



If China Sky can hold onto the 1.00 support (green --) next week, there's a good chance it might reverse its downtrend.

However, if that support breaks, we might see China Sky testing the 0.900 level.

For monday :

Support @ 1.00 (low green, blue --), 0.960 (low pink --), 0.870 (low red)
Resistance @ 1.01 (upp red), 1.018 (mid pink --), 1.06 (upp pink --), 1.07 (upp green), 1.10 (red --)

Good Luck !!

China Sky 140408

China Sky has been trading within the downtrend channel (pink --) ever since breaking the uptrend support (low green) and 1.10 psychological support (blue --) on 9 apr.



However, China Sky seems to have found temporary support around the 1.00 level.

If China Sky continues to trade within the downtrend channel (pink --), we might see it testing the 0.960 - 0.965 level.

For tomorrow :

Support @ 1.013 (low blue), 0.987 (low pink --), 0.950 (low pink), 0.922 (low red)
Resistance @ 1.048 (mid pink --), 1.062 (upp red), 1.076 (upp blue), 1.09 (upp pink --) 1.10 (blue --)

Good Luck !!

China Sky 040408

After breaking the 1.10 psychological resistance turned support (blue ...) on 1 apr, China Sky seems to be trading sideways for the last 3 days, testing the downtrend resistance (upp pink --) but closing below it.



Would be interesting to see if China Sky can hold on to its 1.10 psychological support (blue ...) next week. If this support breaks, we might see China Sky receding back to the 0.95 to 1.00 support level.

If China Sky continues to trade within the uptrand channel (green) and break the downtrend resistance (upp pink), we might see China Sky testing the 1.35 neckline (red ...).

For monday :

Support @ 1.10 (blue ...), 1.077 (low green), 0.976 (upp red, low pink --), 0.927 (low pink)
Resistance @ 1.115 (upp pink --), 1.232 (upp green), 1.30 (upp pink), 1.35 (red ...)

Good Luck !!

China Sky 280308

The 1.10 level still seem a little difficult for China Sky. It came to within 2 cents of testing it today. The 1.00 level looks to be the temporary support (upp pink) as China Sky tested it on 27 mar.



If China Sky is able to break the 1.10 resistance, we might see it testing the 1.30 - 1.35 region. Keep watch on the volume too.

For monday :

Support @ 1.024 (low pink --), 1.00 (mid purple), 0.975 (upp pink), 0.921 (upp purple --)
Resistance @ 1.08 (upp red, low green), 1.10 (upp purple), 1.166 (upp green, upp pink --)

Good Luck !!

China Sky 250308

China Sky broke 2 downtrend resistance today (low red, red --) with volume. It also tested the long term downtrend resistance (upp pink).



I've added a short term uptrend channel (purple) and if China Sky can maintain within this channel, it might test the downtrend resistance (upp red) at around the 1.10 level.

For tomorrow :

Support @ 0.880 (low red), 0.836 (low purple), 0.790 (red --), 0.771 (upp pink --)
Resistance @ 1.007 (upp pink), 1.041 (mid purple), 1.15 (upp red)

Good Luck !!

China Sky 240308

If we factor in last thur's (20 mar) trade, China Sky would have broken the downtrend resistance (upp red --) today. Again, volume was thin.

(trades (trades for 20mar is not indicated)

For tomorrow :

Support @ 0.8613 (upp red --), 0.8153 (upp pink --), 0.7312 (low pink), 0.7105 (low pink --)
Resistance @ 0.920 (low red), 1.027 (upp pink)

Good Luck !!

China Sky Research Report

by DBS Vickers Securities (March 17)

Fears of rising oil prices and a slowdown in US demand and possibly rotational interest in new IPO, Li Heng (also a high-end nylon producer), have sent China Sky's share prices down 30%.

Despite a healthy operating environment and on-schedule expansion plans, China Sky is now trading at 5.1x FY2008F diluted PER, below its historical PER band of 5.4x to 18.4x.

Owing to the unfavourable change in investors' risk appetite and concerns about the competitive landscape beyond 2009 spurred by Li Heng's aggressive expansion plan, we now derive our valuation based on FY2008F earnings instead of blended FY2008/08 earnings.

We also reduced our PER multiple to 9x (which is below its average historical PER of 10.8x) to factor in the higher risk premium.

Consequently, our target price is reduced to $1.70.

- Research Report by DBS Vickers Securities (17 March)

China Sky 190308

China Sky indeed broke the downtrend support (mid pink --) on 17 mar, and went on to test (and broke) the 0.800 level on 18 mar, which is right on the long term downtrend support (low pink), before recovering to close above the support (mid pink --) today.



From the chart, you can see that China Sky is now trading within many downtrend channels (red --, pink -- and pink). If China Sky breaks the long term downtrend support (low pink), we might see it test the 0.600 level (low red --).

For tomorrow:

Support @ 0.8322 (upp pink --), 0.738 (low pink), 0.73 (low pink --), 0.6874 (low red --)
Resistance @ 0.9017 (upp red --), 0.941 (low red), 1.034 (upp pink)

Good Luck !!

China Sky 140308

China Sky continues to trade within the lower downtrend channel (red), touching the support (low red), with volume dropping below 1000 lots.

(Please note that the volume is indicated wrongly)

If China Sky breaks this support, we might see it trading along the lower support (low pink --) and testing the 0.800 level.

For monday :

Support @ 0.932 (low red), 0.894 (low pink --), 0.773 (pink)
Resistance @ 1.067 (mid red), 1.173 (upp red)

Good Luck !!

China Sky 070308

China Sky broke the long term downtrend resistance (upp red) and short term uptrend support (blue) on 4 mar. It also broke the 1.13 (22 jan) low.



China Sky is now trading very close to the downtrend support (low red, low pink --). If that breaks, we might see China Sky testing the long term downtrend support (pink).

For tomorrow :

Support @ 1.00 (low pink --), 0.993 (low red), 0.822 (pink)
Resistance @ 1.118 (mid red), 1.174 (mid pink --), 1.23 (upp red), 1.33 (blue)

Good Luck !!

China Sky 030308

Seems like the resistance for China Sky is around the 1.60 level. After testing it a few times in the middle of feb, China Sky weakened considerably towards the end of feb.



From the chart, you can see that China Sky is now trading very near to the long term downtrend resistance (upp red). If that breaks, we might see China Sky testing the 1.13 low on 23 jan.

For tomorrow :

Support @ 1.307 (blue), 1.27 (low pink, upp red), 1.167 (mid red)
Resistance @ 1.37 (mid pink), 1.42 (upp pink)

Good Luck !!

China Sky 180208

China Sky has somewhat weakened after breaking out on 13 feb. I've amended the uptrend channel (blue) to a less steeper one (green) and I've also added a downtrend resistance (pink).



If China Sky cannot maintain within the uptrend channel (green), we may see it trading downwards in the downtrend channel (pink).

For tomorrow :

Support @ 1.52 (low green), 1.39 (upp red)
Resistance 1.54 (upp pink), 1.66 (upp green)

Good Luck !!

China Sky 130208

China Sky is still trading within the short term uptrend channel (blue).



For tomorrow :

Support @ 1.53 (low blue), 1.422 (upp red)
Resistance 1.63 (mid blue), 1.74 (upp blue)

Good Luck !!

China Sky 110208

After our discussion on 30 jan, China Sky couldn't maintain its uptrend momentum and traded sideways.



China Sky managed to break above the downtrend resistance (upp red) today but closed right on the resistance line. I've added a parallel support (low blue) to see if China Sky can trade within this channel (blue).

If China Sky fails to maintain its momentum, we might see it trading within the downtrend channel (red).

For tomorrow :

Support @ 1.442 (low blue, upp red), 1.332 (mid red), 1.20 (low red)
Resistance @ 1.541 (mid blue), 1.64 (upp blue)

Good Luck !!