China HongXing traded 78.8 million shares and also the 3rd most active counter last Friday. The stock closed at $0.14 with a bullish marubozu candle and move above 20D and 50D MA. Traders have back in this counter which has a very strong support between $0.115 to $0.12 for the past two months. Next immediate resistance is $0.155 (50% Fibonacci Retracement Level) and $0.16 (200D MA). Breaking above $0.16 will make China HongXing to be bullish again.
Golden Agri broke $0.54 78.6% Fibonacci Retracement resistance recently and looked like starting a new up trend. A lower high, higher high up trend pattern has form. $0.54 should serve as a good support level and can be considered a good entry point to trade.
Yangzijiang broke the $1.26 resistance and move back to it up trend. Chart has been redrawn to show the uptrend support line. As long as the uptrend support is not broken, the next resistance target is $1.56. Yangzijiang PE (at $1.46) is 10.5 which is not overvalue. A good entry point is when Yangzijiang retraces back to the uptrend support at about $1.35 to $1.40. Exit point is $1.56.
