China Animal Healthcare: At Corrective Elliott Wave C

China Animal Health has formed a nice Elliott Wave pattern and currently the stock is trading at the corrective Wave C. Currently this stock is on the down trend after failing to break the 200D MA resistance and no sign of this bearish trend will stop.

Base on current chart pattern and PE ratio, it is not a good time to accumulate this stock for long term investing until the down trend is stop. Current price is over value compared to historical PE ratio.

  • Current Price = $0.27
  • Current PE = 18.38
  • Rolling PE = 15.87
  • FY09 PE = 12.23
  • FY08 PE = 15.78
  • Dividend Yield = 3.04%

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