Shares & Derivatives
China Minzhong: High volume white candle day.
By A Singaporean Stockmarket Investor (ASSI)  •  June 13, 2012
Having added to my long position in China Minzhong recently, believing that it was not a time to sell, I am pleased to say that I seem to be on the same page as Mr. Market now. I added more to my long position today as share price broke resistance provided by the 20dMA at 57c on the back of very high volume in the morning. Volume is the fuel that drives rallies and the high volume breakout could see some follow through. Fundamentally undervalued, China Minzhong was, technically, also very oversold. However, with the relentless selling by Mr. Market and decline in share price, the technicals are pretty damaged and it would take some time to repair.
The share price is in a downtrend; there is no doubt about it. Drawing a trend line shows us where resistance could be found over time in the event of a price recovery. Shortists who might ......
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By A Singaporean Stockmarket Investor (ASSI)
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