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Dear Readers,
The price will soon protude the Sgd. 0.60 in the short term, will not be much problem!!! Buy... buy... buy... at today price level!!!
CHINA PETROTECH HOLDINGS LTD
Deutsche Bank AG
Sales in Open Market at Own Discretion
From 5.13 % To 4.46 %
Thanks, Happyseah.
Yes, I know result will be out on 27 Feb. However, it is probably not that exciting. Hope it will not be a dampener to the share price.
MITA No. 042/06/2006
Please refer to the important disclosures at the back of this document.
China Petrotech
23 February 2007
Heading towards S$0.55
- We forecasted on 8th Feb 07 that China Petrotech (CPET) would stage a
rebound after falling into our support zone. CPET did just that by staging
a reversal on 16th Feb and continued with a strong surge yesterday.
- Although yesterday's surge was done on high volume, which usually signals
the start of a rebound, it may be still too early to confirm a new trend has
begun as it remains below the 50 and 100-day moving averages at this
juncture.
- Nevertheless with price indicators rising out of oversold regions and
candlesticks showing bullish formations, we can expect more upside to
CPET in the near term.
- CPET will break the S$0.49 resistance in the days ahead and head towards
S$0.55. However, it is too premature to forecast whether CPET can clear
the 2nd resistance at S$0.55. We also expect the 50 and 100-day moving
averages to provide mild resistance on the price ascension.
1st RESISTANCE S$0.49
2nd RESISTANCE S$0.55
SUPPORT S$0.40 - 0.43
Dear Hotstock,
Well, it is my buying time at this price level! I shall queue tomorrow.
Can anyone shed some light on this previously China darling when the high oil price last april hit the market?
When is she reporting result and what's your take?