China Hongxing Sports Limited (China Hongx SGX:BR9)

| October 27, 2010 | 0 Comments

For the past few days, China Hongx has been resting on the Fibonacci support level of $01.70/$0.175. Since it’s a Fibonacci support level, it’s theoretically a very strong line of support, and the upside is high. It’s also resting on its Bollinger Bands support.

china hongx hongxin chart

Suggested trading strategy:

Enter at $0.175. Cut loss immediately at $0.165. Immediate target price $0.225, and with more potential upside.

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Category: Stock Alerts

About the Author ()

John Tan has been Vice President of BlueTrust Investments Corporation for 6 years since the mid-90’s. He has since moved on, to be a professional full-time trader.

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