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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Ezra Holding: At Critical Support

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Ezra Holding has been trading within a range from $1.60 to $1.85 for 8 months. There is an intermediate support at about $1.75 between these two levels. Ezra is currently testing this intermediate support (which is also a 50D MA). If this support is broken, next immediate support is at $1.65 followed by $1.60. If this pattern repeats by itself, you can make some handsome money by buying near the support and sell near the resistance.

  • Current Ezra PE = 13.1 (stock price = $1.71)
  • Rolling PE = 14.6
  • FY09 PE = 12.6
  • FY08 = 5.6
  • FY07 = 13

Currently Ezra is at its fair value base on current PE & rolling PE. Base on current analysis, Ezra is suitable for trading but not for investing. Note: 200D MA  a long term trend line is sloping down!

 However, majority of broker firms have a BUY recommendation base on Ezra future Earning potential & Forward PE.

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