China Zaino broke out from the channel and started the Elliot 5th Wave finally. The long term uptrend is still intact as the stock still shows “higher high, lower high” type of pattern. Note that Wave 1 and Wave 3 took 2-3 months to achieve the high, this Wave 5 will probably take a similar 2-3 months to achieve new high.
China HongXing looks like Breaking Out From A Down Trend Channel with an increase in a trading volume for the past two days. The stock price broke the 20D and 50D MA resistance, and MACD starts turning bullish. Immediate support between $0.18 to $0.19, next resistance at $0.215.
SinoTechFibre appears to Breaking Out From a Falling Wedge. However, it remains to be seen whether the breakout is successful due to low trading volume. Price target is $0.19 if the breakout is successful. Next resistance at $0.17. Immediate support at $0.145.
