China HongXing looks like forming a Higher High, Lower High type of up trend chart pattern. China Hongxing is finding a good support at $0.155 which is the 200D MA support and the 38.2% Fibonacci Support. Next immediate resistance is $0.18 which is also the 61.8% Fibonacci Resistance. It is important to watch whether this $0.18 can turn resistance into support. Breaking this $0.18 resistance, China HongXing may have a chance to go up to $0.198 followed by $0.22.
- Post author:Marubozu
- Post published:January 26, 2011
- Post category:China HongXing
- Post comments:7 Comments