China Zaino – Dropped out from the uptrend channel!

China Zaino closed at $0.285 with a bearish marubozu candle. It dropped out from the current uptrend channel and also broke the 20D MA support line. If China Zaino can move up in the next few days, a new channel line (with different gradient) has to be redrawn. Otherwise it will be the end of the uptrend and the stocks will move into consolidation phase.

China Zaino – another S-chip stock is swinging in the channel!

Spotted another S-chip stock China Zaino besides Synear and China Hongxing. The patterns for these three stocks are very similar (had breakout and swing inside the up trend channel). China Zaino’s fundamental is pretty solid and can be kept as value investment. My strategy for this stock is to buy some for long term investment and some for short term momentum investment. Target entry point is $0.28 and exit point is $0.335 (about 20% profit target).  Next strong support is $0.27 (61.8% Finonacci Retracement level).

China HongXing – Swinging in the channel?

China HongXing demonstrated a similar trend like Synear. Today the stock closed at $0.25 with a gravestone doji (end of the short term up trend) where the bear tried to push the price back to the channel. If the stock price returns to the channel and starts the retracement,  I will target to enter the trade at $0.21 and exit at $0.26 with a profit target of 24% within a two weeks trade.