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Extracted from my blog http://kelongstocks.blogspot.com
Please "support" my blog if you find the writeup useful.
[B]Fundamental and Technical Analysis[/B]
Chart shows Reyoung in an ascending triangle like formation. Reyoung briefly broke an earlier uptrend line for 3 trading days, came close to testing EMA 50 support but has since rebounded to close above this uptrend line. Prices face some resistance at 49.5 cents before the penultimate resistance at 51 cents. Breakout from this ascending triangle could see prices heading towards technical target of 61 cents.
Supports: 45.5 cents (ascending triangle upward sloping support), 44 cents (recent support) and 43 cents (EMA 50)
Resistances: 49.5 cents (recent resistance), 51 cents (resistance line of ascending triangle)
...........continued at my blog
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scotty, no i am not vested in this stock, just doing an analysis on behalf of my viewer.
don't worry, if i am vested, i will disclose it in the first line of my analysis :)
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scotty, no i am not vested in this stock, just doing an analysis on behalf of my viewer.
don't worry, if i am vested, i will disclose it in the first line of my analysis :)
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Gallen,
Are you invested in this stock?
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Hi, did a writeup of the pharmaceutical companies including a comparison to Reyoung.
please visit http://kelongstocks.blogspot.com for full details
below is an extract of my posting:
Fundamental Analysis
See writeup below on C&O Pharm (08 March 2006). FA target would be around 10x forward 2006 P/E or about 54 cents.
Technical Analysis
Chart shows Reyoung in an uptrend channel after hitting a low of 22 cents in late Dec 05.
All time high was at 47 cents, breaking out of the channel, however sharp reversal the next day brought it back within the channel (false breakout).
Hammer like formation yesterday followed by a doji formation today, indicating uncertainty.
Supports: 43 cents (recent low, base of doji today and candlestick 2 days ago), 42 cents (base of hammer like formation yesterday). Stronger support found at 39 cents (base of belt-hold candlestick and prior high on 09 Feb 06).
Resistances: 46 cents and 47 cents (prior highs achieved over past 4 days)
Indicators: Mixed but generally bullish, RSI still holding up in overbought zone, MACD still deep in positive territory but stochastics have dipped below the overbought zone.
Volumes are healthy but significantly lower than those achieved on 01 Mar 06 (candlestick breaking 39 cents resistance) and 03 Mar 06 (belt-hold candlestick)
Technical target on breakout of 47 cents should see 50 cents followed by 52 cents. Watch for breakouts on high volumes.
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