China HongXing: Chart Pattern Turns Bright!

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China HongXing looks like forming a Higher High, Lower High type of up trend chart pattern. China Hongxing is finding a good support at $0.155 which is the 200D MA support and the 38.2% Fibonacci Support.  Next immediate resistance is $0.18 which is also the 61.8% Fibonacci Resistance.  It is important to watch whether this $0.18 can turn resistance into support. Breaking this $0.18 resistance, China HongXing may have a chance to go up to $0.198 followed by $0.22.

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Synear: Still on Down Trend

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Synear is unable to break the 200D MA resistance on two occassions and continue its down trend. Do note that 200D MA is sloping down and Synear is currently trading below 20D, 50D and 200D MA. Next immediate support is $0.208 which is at the 23.6% Fibonacci Support level.

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Investing & Trading Rules and Philosophy

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  • Markets are constantly in a state of uncertainty and flux and money is make by discounting the obvious and betting on the unexpected. –  George Soros

 

  •  Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.  –  George Soros

 

  • The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market. – George Soros
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