then again, it may be the BBs' attempt to lower prices for their accumulation.. the TA (credits to richtan's webbies and some studying) of CHHX looks good.. 

OOOps, sorry for my mistake, the final support should be at 15 cts ( closing on 13/4/09) as 16 cts is its intraday high.

All trades should preferably be based on closing price

CHHX had intraday broke its 17.5 support but it cpuld be a fake intraday breakdown n there is further support at 16 cts, I will take a final gamble n take profit tomoro if it closes below 16 cts as I had bot around 7 cts..

Make an effort to learn TA n practice regularly by taking any charts, cover-up all the candles, apply & test your knowledge, reveal the candles one by one n see whether your analysis is right or wrong, ask why u go wrong (but remember, at times your analysis is right but the candles just simply goes against u for watever unknown or unforseen reason or events, TA is never 100% right), keep practising regularly to sharpen your skill n post your analysis in the forum so tat u can also learn from fellow forumers comments.

I m not claiming tat I m an expert, till today, I m still learning n praticising wat I had learnt 20 yrs ago, occasionally, I would post my analysis, hoping tat fellow forumers can comments so tat I too can learn from them.

Dun just look at the daily charts, it is good to also step-back into a longer timeframe like weekly n monthly charts to get clearer picture.

Below is my analysis, I may be right or wrong, feel free to comments so tat I too can learn from fellow forumers.

Looking at the daily n weekly n monthly charts, I find tat the weekly chart of Hongxin shows a much clearer picture.

Looking at the weekly chart, it shows a bullish flagpole with pennant, which is usually a continuation pattern.

On a break-up n close above 19.5. target 26 cts (project the flagpole upwards), on a break-down on a close below 17.5, I would cut-loss.

Your comments and advice are very much appreciated.

This is not an inducement to buy or sell.

On wat basis u said "dont think it will hold its ground next week", appreciate if u can substantiate n share your TA analysis or info or is it just base on your emotional thoughts?

Heed my advice, read up trading books on TA (if u are interested, do a search under my username, richtan as I had recently recomended some trading books n "Free Tutorial on TA" websites), to trade without knowledge n doing your homework but instead based on emotions is very disastrous, as in any trade, u need to learn the ropes of the trade, otherwise, it is just pure gambling.

Trading should be based on informed decision n calculated risk n not based on gambling.

The fact tat u need to cut-loss obviously shows tat u had entered a trade without first analysing the chart n had entered during the recent correction after the sharp run-up from 0.055.

Rightfully n logically, yes u are right but bear in mind tat mkts are fluid n constantly reacting to any unforseen news n events.

Any unforseen, unfavorable events or bad news (not necessary about tat particular stock, can be world events or tat industry) can change the whole scenerio, as I said TA n facts analysis are not holy grail n not casted in stones, so always set your stop-losses in case wat is bullish now turns bearish later.

As I aredi mentioned, if u think it is very dangerous, by all means, then u dun touch lor but tat does not mean everybody will not touch n scared by your posting.

I hope no offence taken as I am posting this out of concern for a fellow new forumer.

Friend, frankly, I believe u must be new to trading as I have been around in this forum for quite some time n only notice your extremely worried posting lately, my advice, if u are really keen to trade, wants to learn TA n stop worrying, then do a search under my username, richtan for the few recommended trading books & "Free Tutorial on TA" websites & learn more about TA.

Ans as I always reiterate, TA is not a holy grail, set your stop-loss if mkt turns against your analysis.