China HongXing: In Consolidation Mode

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China HongXing is taking breather now and consolidating at about $0.21 to $0.215. $0.21 which is also a 78.6% Fibonacci level, looks like a strong support. Current chart still looks bullish as 20D and 50D MA are rising very sharply and crossover the 200D MA recently. One negative point is the rolling PE of China HongXing is 43 which is over value. The stock price is running ahead of the stock fundamental. x-Dividend date is Sept 30, 2010.

Good for short trade for the time being.

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Dapai: Double Bottom and Up?

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Dapai has formed a Double Bottom and currently just trading above 20D, 50D and 200D MA, plus has moved above the 61.8% Fibonacci support level.  What Dapai needs now is just a little push in volume to make this double bottom breakout successful with a price target of $0.27.

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Development Bank of Singapore (DBS): Forming a Symmetrical Triangle

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DBS  is currently forming a Symmetrical Triangle and currently just trading below the 200D MA. DBS was unable to break the previous resistance of $15.28 on two occasions. Breaking down this symmetrical triangle will send DBS share price to $12.30. Downside risk is much higher than upside potential as this is not the stock to go long at the moment.

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