China has been on uptrend for the past two weeks and currently trying to establish a good support at about $0.155 (50% Fibonacci Retracement Level) & $0.16 (200D MA). If China Hongxing does not bounce down from this 200D MA resistance, a new uptrend will start as the stock moves above 20D, 50D and 200D MA. Upside potential is huge if $0.155 proves to be a very strong support.
- Post author:Marubozu
- Post published:August 5, 2010
- Post category:China HongXing
- Post comments:0 Comments