China Minzhong has broken above the high formed last week at 1.22. Today’s high at 1.23 currently. Momentum looks strong still on recent news of Alliance with Indofood.. Next immediate target at 1.30. A break above 1.30 can pave the way to 1.35 to 1.40 in the short term. Worth a short term trade. Support would be 1.22 then 1.20.
Stop loss at 1.17.
Recap of earlier call made on this counter on 18th Jan 2012 last Friday. It has then broken the 0.92 resistance and came up quickly to test the 1.05 level. Possible to consolidate between 1.00 psychological support level and near term resistance at 1.05 for a moment before heading higher. A breakout above 1.05 could open the way to 1.15 to 1.18 level. All the best.
Some traders who would like to catch the breakout can consider accumulating some during the consolidation phase but you might have to wait for the surge.
1.05 will be the new support level on a successful breakout.
China Minzhong has broken above the 0.92 resistance level. Momentum seems still holding well looking at past few month uptick. A break ABOVE 0.95 will open the way to test 1.00 in near term. Short term play basically. Top 30 Volume currently. Has been consolidating below 0.92 for more than a week already.
Stop loss at 0.895.
Volume in TOP 10 currently. rising volume on this break out might signal some strength in the near term.... tested the 0.585 resistance level 4 times and finally cleared today on high volume...
Put a stop at 0.57.
All time low, and no signs of abating at the moment..... be cautious as it can dip lower to find new low.
Support at about 1.75 level, cleared resistance last week at 1.72... Accumulate on dips for any strong buy up to 1.90 final resistance level...
