China Sports   

China Sport

China Sport is poised for takeoff from my observation.  I tried to queue last week at 14 cents but did not get a single lot.  Yesterday has a chance and today I could not buy as my budget for short term trading is used up.  Dared not take the challenge because my broker is fast with deducting my giro.

waynekwek      ( Date: 07-Jul-2009 14:05) Posted: What has caused the low volume today? Why has investors lost interest when I see many posts here saying this is a good counter? Does this indicate that the price of this counter will not pick up in the next couple of days? Any comments?

 

What has caused the low volume today?

Why has investors lost interest when I see many posts here saying this is a good counter?

Does this indicate that the price of this counter will not pick up in the next couple of days?

Any comments?

 

Both of you are correct! I have to admit that Volume is important.

 

I agree that volume plays an important role esp with the amount of share floating in the public.

The most important thing "learn through critique for improvement".

I have to quote HongX as an example:

March 12 2009 Volume is high but much lower than the recorded high and price pickup. Why? Positive divergence.

May 26 2009 HongX has a recorded volume. The share price shoot up. The next day price trumble. Why? Negative divergence.

You want another example?

 

For China Sports , why all the forumers n investors overlook the volume done daily , the patterns would not change if the volume is so low  that never provide the sufficient strength to form the reversal patterns . So the key factor is the volume n not others .

 

Bitang's advise make sense too.

Bintang      ( Date: 06-Jul-2009 22:09) Posted: China Sports went down to 13.5 cents after hitting new high at 21 cents ,  later making 3 weak technical rebounds at 16.5 cents . This is also a small top formation , but the strength to push the price down is strong ,if the supporting point at 13.5 cents can not stop the falling within 3 days , then the down trend will be confirmed . The next supporting points are 12 cents , 10.5 cents and finally 8 cents . Stop loss is at 13 cents . dealer0168      ( Date: 06-Jul-2009 21:37) Posted: Hi Bintang, what yr view on the question i point out. Interested to know yrs as well

 

Hi bintang

Hope u can see how we detect divergence.

 

Well done el7888. This is my style.

 

This is my prediction. With Dow Jone turns positive, today China Sport likely to go up.  See the chart.

 

Not that scary, as long as the positive divergence is intact there will be a rebounce.(just a matter of time).

I don't think the price will touch 12.5 cts. It is does there will be a flock of investors rushing in.

One thing for such, if u have observed the market, is that with a negative divergence price will come down pretty fast. Unlike positive divergence, price usually will take a longer time to rise esp with external factors and human psyscholoy.

 

12.5 cts is an historical support. Once it gives way than that it....

 

Hi Pilotfish,

What about the 12.5cts line.....any signifiance to it ??

Thanks!!

 

 

pilotfish      ( Date: 06-Jul-2009 23:28) Posted: OK. This is what I have form the chart. Though MACD indicator is weak, however as long as the positive divergence is still intact. A bounce is expected. 13.5 cents is also a historical support. See chart for description. fartist      ( Date: 06-Jul-2009 21:07) Posted: g This is my first time posting a chart hope it would be useful to you guys out there. Do comment on how i can improve thanks!

 

OK. This is what I have form the chart.

Though MACD indicator is weak, however as long as the positive divergence is still intact. A bounce is expected. 13.5 cents is also a historical support. See chart for description.

fartist      ( Date: 06-Jul-2009 21:07) Posted: g This is my first time posting a chart hope it would be useful to you guys out there. Do comment on how i can improve thanks!

 

Now DOW is in 1st half play, 2nd half is the deciding one. Hope fr the best man..............

Cheers,

Andrew      ( Date: 06-Jul-2009 22:51) Posted: Oh....I thought STI is quite correlated to HSI....The US thing I just said is that all is falling together leh... And USD fall is rather sharp leh...... dealer0168      ( Date: 06-Jul-2009 22:42) Posted: Recent trend is STI drop first than Dow drop. So tomorrow hope the same. Maybe a flat day for STI or a slight drop.HOPE FR THE BEST.........

 

Oh....I thought STI is quite correlated to HSI....The US thing I just said is that all is falling together leh...

And USD fall is rather sharp leh......

dealer0168      ( Date: 06-Jul-2009 22:42) Posted: Recent trend is STI drop first than Dow drop. So tomorrow hope the same. Maybe a flat day for STI or a slight drop.HOPE FR THE BEST......... Andrew      ( Date: 06-Jul-2009 22:38) Posted: I think tomorrow is going to be a red day again (for many stocks too)......DJ is down, USD is down, OIL is down, even gas is down.......

 

Recent trend is STI drop first than Dow drop. So tomorrow hope the same.

Maybe a flat day for STI or a slight drop.HOPE FR THE BEST.........

Andrew      ( Date: 06-Jul-2009 22:38) Posted: I think tomorrow is going to be a red day again (for many stocks too)......DJ is down, USD is down, OIL is down, even gas is down.......

 

I think tomorrow is going to be a red day again (for many stocks too)......DJ is down, USD is down, OIL is down, even gas is down.......

 

China Sports went down to 13.5 cents after hitting new high at 21 cents ,  later making 3 weak technical rebounds at 16.5 cents . This is also a small top formation , but the strength to push the price down is strong ,if the supporting point at 13.5 cents can not stop the falling within 3 days , then the down trend will be confirmed . The next supporting points are 12 cents , 10.5 cents and finally 8 cents . Stop loss is at 13 cents .

dealer0168      ( Date: 06-Jul-2009 21:37) Posted: Hi Bintang, what yr view on the question i point out. Interested to know yrs as well. fartist      ( Date: 06-Jul-2009 21:35) Posted: I'm no fortune teller but there might be 2 possibilities 1. It may rebound back to the 0.14 support level as it maybe a false breakdown and that we can only judge when market opens tmr. 2. It will test the 0.125 support level in the coming days, I'll do my best to keep you guys updated. Btw the rsi and mfi are showing negative divergence, which indicates the counter now is very weak. DYODD.

 

Hi Bintang, what yr view on the question i point out. Interested to know yrs as well.

fartist      ( Date: 06-Jul-2009 21:35) Posted: I'm no fortune teller but there might be 2 possibilities 1. It may rebound back to the 0.14 support level as it maybe a false breakdown and that we can only judge when market opens tmr. 2. It will test the 0.125 support level in the coming days, I'll do my best to keep you guys updated. Btw the rsi and mfi are showing negative divergence, which indicates the counter now is very weak. DYODD. dealer0168      ( Date: 06-Jul-2009 21:32) Posted: So can we interpret that it maybe heading to 0.125 on next few days? Emm btw, is there any possible uptrend in near term for this baby.............. I guess this are what the investor keen to know.

 

I'm no fortune teller but there might be 2 possibilities

1. It may rebound back to the 0.14 support level as it maybe a false breakdown and that we can only judge when market opens tmr.

2. It will test the 0.125 support level in the coming days, I'll do my best to keep you guys updated.

Btw the rsi and mfi are showing negative divergence, which indicates the counter now is very weak.

DYODD.

dealer0168      ( Date: 06-Jul-2009 21:32) Posted: So can we interpret that it maybe heading to 0.125 on next few days? Emm btw, is there any possible uptrend in near term for this baby.............. I guess this are what the investor keen to know.