Due to a overwhelming strong mandate of 60% in the polls for the weekend stock to be charted, i hv decided to give an early progress bonus to the voters for China Milk. (u dont hv to wait til weekend to see the chart) ;)
When China Milk made its debut in our casino, there is rumour of it bei
ng played by the syndicates as we struggled to catch our breath when it rose to an all time high of 1.51 less than 2 month of its listing. Since then, it has made a double top and coupled with the june correction, it has amazingly retraced all its gains and touch its ipo opening price of 0.83 again. One can only assume that the rumored syndicates has since distributed their holdings to unwary investors.
When China Milk made its debut in our casino, there is rumour of it bei
ng played by the syndicates as we struggled to catch our breath when it rose to an all time high of 1.51 less than 2 month of its listing. Since then, it has made a double top and coupled with the june correction, it has amazingly retraced all its gains and touch its ipo opening price of 0.83 again. One can only assume that the rumored syndicates has since distributed their holdings to unwary investors. Today's closing price of 0.985 see it broke through its support line/channel at 0.995. If it does not hug back this support line swiftly in the next few days, we could see it retraced back to 0.945. Positive sign would be a close above 1.02, to retest the 61.8% retracement mark at 1.09. By then, its momentum would hv been enough to send it back to 1.24 again, the 38.2% retracement level. For a company that profits handsomely from pedigree bull semen, it has really struck the right chord in the minds of investors.
1 comment:
may I request for a chart of China Petrol, please and thanks in advance.
~ Eka
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