Wednesday, February 18, 2009

China Fishery – SELL


It breached its 30-day SMA yesterday. The stock could be heading towards its double resistance at S$0.72-0.735 levels.

MACD is still positive while RSI is still rising. RSI has yet to reach its overbought region, suggesting that there is still some upside left.

The downside break of its triangle was a bearish sign for the medium term. This rebound is not likely to be sustainable. Sell on rebound for now. Support is at S$0.605 and S$0.55.

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