Tuesday, May 13, 2008

China Hongx At Potential Rebound Zone


Doji candlestick bar was formed yesterday near 20 days EMA , 50 days EMA and red neckline support line. Stochastics has fallen into oversold region and current dragonfly candlestick bar indicates potential bottom reversal. Price unlikely to fall below blue support line. Immediate resistance 72 cents followed by 200 days EMA resistance line. Breakout above 200 days EMA will propel price towards green resistance line.

No comments: