China Animal Healthcare: At Corrective Elliott Wave C

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China Animal Health has formed a nice Elliott Wave pattern and currently the stock is trading at the corrective Wave C. Currently this stock is on the down trend after failing to break the 200D MA resistance and no sign of this bearish trend will stop.

Base on current chart pattern and PE ratio, it is not a good time to accumulate this stock for long term investing until the down trend is stop. Current price is over value compared to historical PE ratio.

  • Current Price = $0.27
  • Current PE = 18.38
  • Rolling PE = 15.87
  • FY09 PE = 12.23
  • FY08 PE = 15.78
  • Dividend Yield = 3.04%
Continue Reading China Animal Healthcare: At Corrective Elliott Wave C

China Animal Healthcare: Watch The Uptrend Support!

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China Animal Healthcare’s stock chart is showing sign of weakening, if we compare the previous wave patterns (nice and solid triangle) on the uptrend.  Although the uptrend is still intact base on current chart, it is important to see whether ChinaAniH can stay above this uptrend support at about $0.345 (which is also at 78.6% Fibonacci Support). Breaking down this support indicates the end of the uptrend for China Animal Healthcare.

Continue Reading China Animal Healthcare: Watch The Uptrend Support!

China Animal Health: Wait for Pull Back Part 2

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If you are trading China Animal Health, I believe you will love the WAVES very much. You can see the wave patterns clearly and the predictability of the support and resistance. China Animal Health bounced back from the resistance of $0.43 (with the help of 123.6% FR level) as indicated in my previous post. Base on the latest chart pattern, ChinaAniH is currently testing 78.6% Fibonacci Support at about $0.348. The next support is the uptrend support (which is also a 200D MA support) at about $0.32 if this 78.6% FR support cannot be hold. 

Things to watch out:

  • If you are planning a good entry for long term investment, you need to keep a very close watch on whether China Animal Health can bounce back from this uptrend support line (green line). Bouncing off this uptrend support indicates the uptrend is still intact. If this uptrend support is broken, this stock will start a down trend.
  • If you are familiar with Elliott Wave, you can see that Wave A may be in formation. If the Elliott Wave is valid, watch out for a significant correction.

p/s: If you want to predict the stock price, I strongly suggest you to learn how to draw Fibonacci lines. Fibonacci will help to answer lots of your questions on where are the supports and resistances, where are the entry and exit points, etc.

Continue Reading China Animal Health: Wait for Pull Back Part 2