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Friday, March 1, 2013

ChinaMinZhong Technical Analysis

ChinaMinZhong closed with a "long antenna" ( long legged doji ) today after hitting an intraday high of $1.27 ( which is very close to our target at $1.30 ).  In the weekly chart, a shooting star candlestick was formed where RSI is overbought. It is likely the euphoria will pause where selling pressure will bring the prices back to between $1.00 ~ $ 1.10.  The long term trend is still up so it is good to buy on dip.