****** Monitor For Breakout: Dukang. Share price 0.485. (Likely consolidation before more confirmation in direction) - REPOST: NOW AT 0.515... MORE UPSIDE ON 0.500 SUPPORT.

REPOST: NOW AT 0.515….. MORE UPSIDE ON 0.500 SUPPORT.

  

Posted on 17 September 2013. Dukang is likely to consolidated from 0.47 to 0.50 in the coming days since it broke above the 0.47 resistance last Friday. Has attempted to break above the Critical 0.500 yesterday but to no avail. Current high today is at 0.500 also. As long 0.47 stays as new support level, can still be a positive for a rebound back up to the 0.600 level. A break above 0.500 can see it go to 0.55 to 0.56. Note that it has also broke above the channel resistance level (Downward sloping line) and also convincingly above the 20 DAY MA (Green line) which can signal more short term upward momentum. Aggressive traders can consider averaging up at 0.505 to 0.51 if the 0.51 clears out and take profit from 0.54 to 0.56.

Stop loss at 0.46. 

 

******* Monitor For Breakout: Dukang. Share price 0.485. (Likely consolidation before more confirmation in direction)

Dukang is likely to consolidated from 0.47 to 0.50 in the coming days since it broke above the 0.47 resistance last Friday. Has attempted to break above the Critical 0.500 yesterday but to no avail. Current high today is at 0.500 also. As long 0.47 stays as new support level, can still be a positive for a rebound back up to the 0.600 level. A break above 0.500 can see it go to 0.55 to 0.56. Note that it has also broke above the channel resistance level (Downward sloping line) and also convincingly above the 20 DAY MA (Green line) which can signal more short term upward momentum. Aggressive traders can consider averaging up at 0.505 to 0.51 if the 0.51 clears out and take profit from 0.54 to 0.56.

Stop loss at 0.46.

 

News – 28 August 2013

 

******* Trading SELL: Dukang. Share price 0.44. (Broken support at 0.455, 0.45) - CFD SHORT SELL TRADES only

Dukang has just broken its immediate support at 0.45, 0.455 today. Has been trading above this levels since mid of May 2013. We have seen it dipped down once to this support level last month before rebounding upwards to above 0.55. More downside can be possible if it does not creep above this 0.45 new resistance level within the next few days. Potential downside to 0.40 then 0.36. You can see a slight Descending triangle formation breakdown of support where the highs formed are lower than the previous high and horizontal support at 0.45 broken. As long as 0.45 remains as the new resistance level, we are bearish.

Buy stop at 0.465 for CFD SELL trades.

 

 

***** Trading Buy: Dukang. Share price 0.555 (Short term rebound possible)

Dukang has just crossed above its 20 DAY Short term moving average (Green line) yesterday and has continued to surge higher testing the critical resistance at 0.55. Have attempted a breakout yesterday above 0.55 but failed. Have staged a breakout this morning above 0.55. Currently at Top 10 Volume, likely to see it trend higher if the new support at 0.55 holds. High as of now is at 0.56. Next target to watch would be 0.600 which was quite a key resistance last month then finally at 0.65 which was the recent high. A break above 0.600 can pave the way for it to test recent high fast. Good luck ! J

Stop loss 0.53.

 

***** Consolidation Phase: Dukang. Share price 0.64. ( Impending breakout above 0.65)

Follow up from previous call made last Monday 3^rd June. Dukang is likely to consolidate from 0.600 to 0.65 for a while before breaking above. Support remains at 0.600 firmly which was previously a resistance level. Possible to accumulate on dips near 0.600 level to catch the breakout of 0.65. Upside is still intact above 0.600. Upon breaking out at 0.65, aggressive traders can consider averaging up at 0.655 to 0.66 and have a short term target to 0.700. High as of now 12.52pm is at 0.65 level which it again tested today but not much buyers.

To raise trailing stop loss level to 0.585.

 

***** Trading Breakout: Dukang. Share price 0.56.

Dukang has traded from 0.500 to 0.55 level for about a week and again today we have seen a breakout of 0.55 resistance level. New support now at 0.55 level. Short term target possible at 0.600. A break above 0.600 can see it trade higher to find new consolidation phase. Follow up from previous call made on 22 May 2013. As long as 0.55 hold, upside and momentum remains intact. Can consider averaging up on 0.600 breakout. TOP 30 Volume seen currently.

Stop loss at 0.535

 

See report from Next insights

Keeping up the momentum
The Dukang brand was recently endorsed by China’s Ministry of Foreign Affairs.  More than 200 embassies worldwide will have the option to serve Dukang baijiu at official banquets and use the liquor as official gifts presented to foreign dignitaries. In 4Q2013, it will step up on advertising and promotion (A&P) activities to bring the Dukang brand another leg up.  The management expects to increase its A&P activities in the quarters ahead but will ensutr that A&P expense over sales ratio will stay within 12% for the full year.
It will also start production of 700 new fermentation pools in July or August 2013, adding another 3,000 tonnes of grain alcohol production capacity to the existing 7,610 tonnes per year.

 

*** Trading Buy: Dukang. Share price 0.52.

Dukang has again cleared the psychological 0.500 resistance level, has opened at 0.52 today with Strong TOP 3 volume. More upside to test 0.55 possible. Following up from previous call made last Tuesday when it broke the 0.45 level. As long as 0.500 remains as resistance turned support level, short term upside is intact.

Stop loss as 0.485. 

** Short Term Trading Buy: Dukang. Share Price: 0.465.

Dukang has tested the 0.45 level yesterday but failed to break. Has seen Top 20 volume today and it broke the 0.45 level, currently at 0.46 level. More of a short term trade with tight stop loss. As long as 0.45 holds as new support level, upside to 0.500 can be possible in the short term. A break above 0.500 can see it go to 0.600 while consolidating. Possible to enter into long positions from 0.45 to 0.46 level and trade to near 0.500 profit level.

Stop loss tight at 0.44.