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.
Although Noble Group’s stock chart is still showing an uptrend, but the stock price is closing in the resistance of $2.37.
Things to watch:
Background of the Company
Established in 1981, Mencast Holding manufactures and supply sterngear equipment and provide sterngear services for a wide range of commercial vessel-applications. Mencast caters mainly to customers in the offshore oil and gas and marine industry. Customers include major shipyards, shipowners, owners of small tankers, bulk carriers, tugboats.
Financial (Base on FY2009)
An under value penny stock in Marine sector which have good upside potential for long term investment.