Jaya Holding – False breakout!

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Jaya had a false breakout (due to lack of volume) and moved back to the consolidation phase again.  The stock price is testing the 20D MA support line now and all other technical indicators are not showing any bullish signal. One thing to watch out whether the stock price can hold above the 20D MA support line. If it breaks this support line, I need to check Parabolic SAR & MACD to confirm whether it is a reversal of the trend.

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Synear – end of the trend and move into consolidation phase

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Synear closed with a short black candle today at $0.33. I have to abandon my swing trading plan on this stock because the trend has ended and the stock price now enter into consolidation phase and move sideway. Synear does not meet my Value Investing criteria and I have removed Synear from my watchlist.

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

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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).
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