Sunday, December 16, 2007

China HongXing 14th Dec 2007

China HongXing 141207

Downtrending since 29th Oct 2007.
Already in the lower part of the trading range ($0.90 - $1.04) on 5th Dec 2007 (significant day).
Last Friday, it closed at $0.94. This price was within the majority volume zone of $0.935 - $0.95, 7.076 millions of shares done on 5th Dec 2007.
If breaks on Monday, which looks possible (Dow fell 1.32%), the next support at $0.905 - $0.92 (8.842 millions done on 30th Nov 2007).
$0.92 is the uptrend support in mid-term on Monday. (see yellow line)
$0.90 is more like a psychological support.
Need a big volume to reverse the trend.

No comments: