Are we seeing a breakout again today as mentioned?
Sent: Wednesday, May 20, 2015 10:02 AM
Subject: ******************* Potential Breakout: China Fishery - Next resistance at 0.25 key to a recovery back to 0.30, price 0.24
Subject: ******************* Potential Breakout: China Fishery - Next resistance at 0.25 key to a recovery back to 0.30, price 0.24
Following up from call few days back, we have indeed seen China Fishery traded to a high of 0.25 resistance before a slight retracement. Range would now be higher and tighter from 0.23 to 0.25 now. May see some consolidation within this range given the huge run seen. At current level, note that it has also crossed above the 100 day LONGER TERM MA line so this too can signal a trend reversal. 20 day MA line pointing upwards firmly as it continues its uptick on strong volume buy ups with MACD momentum still positive. Breaking out above 0.25 – 0.255 can see more strength to 0.300 then 0.34.
Sent: Monday, May 18, 2015 9:13 AM
Subject: ******************** Breakout Spotted: China Fishery - Clearing above 0.21 - 0.215 can lead to a recovery back to 0.25 fast, price 0.235
Subject: ******************** Breakout Spotted: China Fishery - Clearing above 0.21 - 0.215 can lead to a recovery back to 0.25 fast, price 0.235
From last Friday’s call, we have indeed seen China Fishery cleared the 0.215 resistance convincingly and headed to a high of 0.235. At current levels, it has also just crossed above the 100 day MA Line which can suggest a longer term trend reversing upwards. As long as 0.20 – 0.21 holds as the support, still positive to ride any upside with temp resistance at 0.25 first. Breaking out above 0.25 – 0.255 can see more strength to 0.300 then 0.34. Technical indicators still look positive with MACD showing strong momentum as it stage a breakout.
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