China HongXing – trying to break strong resistance of $0.215

Another hot China stocks trying to breakout from the strong resistance with increasing volume.

Resistance at $0.215. If the stock price break the resistance, it may go up to $0.268 (161.8% Fibonacci). The next strong support at $0.183 (61.8% Fibonacci retracement) and $0.156.

PE = 6.8
Dividend Yield = 1.25%
NAV = $0.3359

Base on Q2 2009 result:
Current Ratio = 25
Cash = $520 Million
Net Earning = 9.5%
ROA = 10.1% (2008 Full Year)
ROE = 11.6% (2008 Full Year)
3 Years Historical High = $1.42
Current Price = $0.215

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