A symmetrical triangle is formed on China animal health. Symmetrical Triangle in the up trend normally is a continuation pattern. Price target is $0.42 if China Animal Healthcare breakout and move above the triangle.
China HongXing looks like breaking out from a Flag pattern with a spike in trading volume. The stock also breaks the 200D MA resistance which is also 50D MA resistance. Other technical indicators like MACD, Bollinger Band, Parabolic SAR, Stochastic, RSI show bullish signal. Also take note that 20D MA crosses up 200D MA, which is another bullish momentum signal. It looks like China HongXing is starting a bull run!
Straits Asia Resources (SAR) has completed the breakout from a Falling Wedge after testing the support at the breakout point (shaded in green) which is also the 50D MA support. Currently SAR is testing a long term trend of 200D MA resistance at about $2.14. If this resistance is broken and turned to support, SAR is on the way to reach its price target of minimum $2.60. Falling Wedge in an up trend is a continuation pattern.
