My Stocks Investing Journey » China Fishery

China Fishery Continues to Trade in A Down Trend Channel

Marubozu — Thu, 29 Sep 2011 12:34:04 +0000

China Fishery is currently trading in a down trend channel. As long as China Fish stay below the $1.20 – $1.25 resistances (20D MA, 50D MA and 38.2% Fibonacci Retracement Level), the stock will be heading toward $0.92 (the next 23.6% FR).

China Fishery: Down Trend Has Started

Marubozu — Mon, 09 May 2011 15:57:27 +0000

China Fishery has started the down trend after the stock price was unable to break above the previouos uptrend support turned resistance level. ChinaFish is also showing a “Lower Low, Lower High” down trend chart pattern. Next support is $1.75 followed by $1.625 which is the 61.8% Fibonacci Support.

China Fishery: Elliott Wave C now?

Marubozu — Wed, 28 Jul 2010 07:37:11 +0000

China Fishery looks like starting an Elliott Wave C. If the Elliott Wave count is correct, very likely China Fishery will break this uptrend support line and may go down to $1.60 which is the 618% Fibonacci Retracement Level.

$1.90 is the critical support to watch as it is a 78.6% Fibonacci Retracement level + 50D MA support + Up Trend Support.

China Fishery – 5th Wave has started!

Marubozu — Fri, 20 Nov 2009 16:24:00 +0000

China Fishery has started the 5th Wave, normally the biggest wave of an Elliott Wave. The retracements are very well fitted in this Fibonacci Retracement.
Wave 1 & Wave 2: Retracement from 100% level to 61.8% level
Wave 3 & Wave 4: Retracement from 123.6% level to 100% level.

Will Wave 5 & Wave A retrace from 150% ($1.638) level to 123.6% ($1.433) level, before moving to 161.8% ($1.729) level? This pattern may help me to make some money.

China Fishery – a bigger picture (Elliott Wave)!

Marubozu — Fri, 23 Oct 2009 10:39:00 +0000

China Fishery closed at $1.26 (a critical support level) with a hammer today (a trend reversal). Looking at a bigger picture, China Fishery is forming a nice Elliott Wave (in blue) and currently is probably ended with Wave 4, and the hammer may indicate the start of Wave 5 (the biggest wave).
Coincidently, a smaller Elliott Wave (in red) is observed and probably at the end of Wave C currently. This ABC retracement is approximately at 61.8% Fibonacci Level.
Base on the chart pattern and candlestick, plus the healthy correction, China Fishery will probably go on a medium term bullish upside.

China Fishery – Dropped out from the up trend channel!

Marubozu — Wed, 21 Oct 2009 14:02:00 +0000

China Fishery dropped out from the uptrend channel and broke the 50D MA support line. If China Fishery stays above $1.263 (61.8% Fibonacci Retracement level) and bounces back from this support, this is considered a healthy correction before continuing the up trend. It looks like a Head & Shoulders is formed too with neckline at around $1.263. If this critical support is broken, it may send the stock down to $1.06 level.

China Fishery – Insiders Buying

Marubozu — Sat, 10 Oct 2009 13:03:00 +0000

Two substantial shareholders of China Fishery (Pacific Andes Limited and Golden Target Pacific Limited) started the shares acquisition at $1.16 since Aug 18, 2009.

The shares acquisition is still on going and the trading volume is pretty thin for the past two weeks. Normally it is a good sign if there are insiders buying.

In addition, the stock price is on a nice trend (200D MA on a up trend). Although I have sold half of my positions to take profit, I am still holding half of it as long term investment amid the concerns of big correction. I am watching very closely whether the stock can stay above the 20D & 50D MA if the correction comes. If yes, I will probably increase my position in this stock.

China Fishery – new support and resistance levels

Marubozu — Tue, 29 Sep 2009 12:25:00 +0000

I’d redrawn the Fibonacci support & resistance levels after China Fishery broke the $1.422 resistance. Currently the stock price is testing $1.458 resistance and the volume is picking up. If this resistance is broken, China Fisher has chance to go up to $1.568 and eventually $1.616 (161.8% Fibonacci).

China Fishery breakout from triangle and looks really bullish!!!

Marubozu — Mon, 24 Aug 2009 14:18:00 +0000

China Fishery has a breakout from triangle and close the session at $1.28 with a hanging man candle today. It has chance to go up to $1.422 (161.8% Fibonacci line) and a very strong support at $1.127 (61.8% Fibonacci retracement) with raising volume.

All Standard Six Indicators showed Bullish Convergence.

Stock price above 20D, 50D and 200D MA.
Stock price at the upper band of Bollinger Band.
Stock price above Parabolic SAR
MACD blue-red crossover at upper half to show bullish convergence.
RSI & Stochastic on rising trend.
Volume is increasing for past few days and 1.6 million shares traded today.

Market sentiment is good today and hopefully will still be good for the next few days. If the stock price can stay above $1.24, short term the stock price may have another 10% upside potential. I will continue to monitor the stock to see whether it will reach $1.422.

If all my Technical Analysis goes wrong, I will hold the stock as Value investment and collect dividend because the company’s fundamental is good and the stock is still cheap.

Base on Q2, 2009 financial report:

PE = 8.1 (Historial high PE is 21.6 in 2005)
Dividend Yield = 4.3%
Net Earning = 23%
Current Ratio = 1.79
ROA = 12.9% (Base on 2008 Full Year)
ROE = 28% (base on 2008 Full Year)
Cash Flow = S$31 Million (Already 50% more than 2008 Full Year for the first 2 quarters due to capacity expansion)

Stock Background

3 years historal high = $2.564
Current Price = $1.28 (only 50% of 3 years high)

Singapore Stocks

Marubozu — Wed, 12 Aug 2009 14:08:00 +0000

Personally I feel that those STI index component stocks prices were over value. I am waiting for the correction before re-look into those blue chip stocks again. At the moment, I am investing with those penny stocks with good fundamental and have shown some good bullish momentum lately.

Stocks with good fundamental & good future prospects:
(1) Best World
(2) Hongguo
(3) China Fishery

Stocks with bullish momentum recently
(1) Meiban
(2) Sunning Tech

I started to clean up my old portfolio (1 lot Del Monte, 3 lots Dynamic) that I don’t even know why I bought them at the 1st place. However, it is never too late to correct my past mistakes and start my proper investing again.