Wednesday, May 27, 2015

China New Town - clearing above 0.090 target again today, Price 0.095

Can it hit our 2nd target at 0.100 this week?

Sent: Wednesday, 20 May, 2015 5:09 PM
Subject: ************************ Bullish Setup: China New Town - Breakout above 0.082 - 0.084 a positive, price 0.086
China New Town has broke out above the 0.082 resistance which it had consolidated below since July last year. A bullish rounding bottom pattern spotted and more upside above the 0.082 – 0.085 new support level now. Target to 0.090 the 0.100 then 0.110. 100 day MA line has just crossed above the 200 day longer term MA which can signal a trend reversal at an initial phase with 20 day MA line also sloping upwards leading to a short term uptrend. MACD showing positive momentum and there can still be more legs to the rebound with volume maintaining.

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