Noble - On A Uptrend Channel

Noble is still moving up in an uptrend channel. Resistance seens at $3.23. Noble has been on the uptrend since April without a major healthy correction. OCBC Investment Research has a BUY rating for Noble with a fair value price of $3.73 (base on 14.1 PE ratio of FY2010F).

China Zaino - Finally 5th Wave Started!

China Zaino broke out from the channel and started the Elliot 5th Wave finally. The long term uptrend is still intact as the stock still shows "higher high, lower high" type of pattern. Note that Wave 1 and Wave 3 took 2-3 months to achieve the high, this Wave 5 will probably take a similar 2-3 months to achieve new high.

China HongXing - Breaking Out From A Down Trend Channel

China HongXing looks like Breaking Out From A Down Trend Channel with an increase in a trading volume for the past two days. The stock price broke the 20D and 50D MA resistance, and MACD starts turning bullish. Immediate support between $0.18 to $0.19, next resistance at $0.215.

China Zaino - Dropped out from the uptrend channel!

China Zaino closed at $0.285 with a bearish marubozu candle. It dropped out from the current uptrend channel and also broke the 20D MA support line. If China Zaino can move up in the next few days, a new channel line (with different gradient) has to be redrawn. Otherwise it will be the end of the uptrend and the stocks will move into consolidation phase.

China Zaino - another S-chip stock is swinging in the channel!

Spotted another S-chip stock China Zaino besides Synear and China Hongxing. The patterns for these three stocks are very similar (had breakout and swing inside the up trend channel). China Zaino's fundamental is pretty solid and can be kept as value investment. My strategy for this stock is to buy some for long term investment and some for short term momentum investment. Target entry point is $0.28 and exit point is $0.335 (about 20% profit target).  Next strong support is $0.27 (61.8% Finonacci Retracement level).

China HongXing - Swinging in the channel?

China HongXing demonstrated a similar trend like Synear. Today the stock closed at $0.25 with a gravestone doji (end of the short term up trend) where the bear tried to push the price back to the channel. If the stock price returns to the channel and starts the retracement,  I will target to enter the trade at $0.21 and exit at $0.26 with a profit target of 24% within a two weeks trade.

My swing trading plan for Synear

Finally see sign of retracement of Synear after the stock price closed at $0.34 today with a black candle. My timing was perfect in the last cycle when I bought Synear at $0.275 and sold at $0.34, making a handsome 21% profit in 6 days!

I predict the stock price will retrace back to $0.30 stay and inside the channel. My next swing trading plan is to enter the trade at $0.30 and exit at $0.36 with profit target of 20%. Wish my prediction comes true!