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Thursday, March 23, 2006

China Sun


Testing short-term uptrend support line indicated by the red line. Just broke thru 20 days closing moving average support . Breakdown thru 64.5 cents red line support will test the next support at 63 cent shown as the dark blue dotted line and 62.5 cents the dark blue line. Immediate resistance is 68.5 cents. Next resistance is the gap resistance at 69.5 cents. The ability to fill and breakout upwards from this gap resistance will demonstrate that there is still more upward momentum. However, should the 62.5 cents support breaks price will probably retrace to 57.5 cents. Chart as per time stamped.

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