ChinaMilk   

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Great, that's why I always said that Sporegal's postings of uptrend and downtrend are most useful for people who knows how to use it.

Well, she confirms my fear of the downtrend and therefore I am giving this counter a miss.

 

 

I think this counter is still on a downtrend. Acc/Dist and Chaikin are both heading south and it has also recently cut the lower bollinger band. What's troubling is in the past few days, the downtrend in price was upheld by larger than normal volumes. 

 

Concur, RSI and Stochastics oscillators all bullish. MacD trend indicator showing 4 greens one red and ticking up - very bull. Counter good for a fast range trade.

My only reservation is that this baby is on a downtrend, and if the price is not responding to these indicators, then it is not very comfortable to be stuck with a falling stock.  Only option left is to exercise the yakuza law of cutting a finger off - i.e. cut loss.

 

I'm new at this TA reading. But I think ChinaMilk is due for a reversal in current downtrend.

China Milk on 20/4/07 has a 5 day RSI of 28 , 14 day RSI 42

RSI on 19/4/07 5 day 16 , 14 day 39.

I don't see any significant flag formation on the chart, and I drew a line from
10/4/07 at 1.39 to 16/4/07 at 1.33 and a line from 11/4/07 at 1.30 to 18/4/07 at 1.22 as the resistance and support lines for the channel. Is this acceptable?

The support line was breached on 19/4/07 but it recovered on 20/4/07. Is that a spring pattern? Indicating a price reversal?

5 day Stochastics also showed %K line crossing %D line on 18/4/07.

Does MACD line also show a convergence pattern with the price chart? Or am I seeing things?

 Advice, comments and criticism are welcome.
 

 

 

Hi TA frens. I tried to learn to read the charts to this one but can't seem to get the hang of it. Does it look like going down further? I use average moving 3 and 14 days and it shows it falling freely. When will we know it has stabilised? and how will we know if it is going to pick up? thks.

 

Looks like on down cycle now. Can buy on price weakness as the fundamentals of the co are sound. The processing plant in Dajing is expected to be operational in May 07 and will have a production capacity of 50,000 tonnes per annum.  Biz is profitable.

 

how is chinamilk doing these days?  any opinions?

 

noted. thanks

 

Signals are mixed for this one.... be cautious

 

uptrend now?anyone can advice?thx

 

uptrending, we shld see it hitting 1.5 again

 

Hi ROI25per,

I don't use chart patterns but only use trend readings.

From what I read in the TA charts, it could be heading for a slow downtrend or a stagnating price. Nothing much interesting here.

 

gd entry, any chartist expert to advice?

 

singaporegal.

I m seeing a cup & handle and also right handle is higher than left handle. Does it mean that it is a buy opportunity as a strong uptrend is coming???

 

May have a spillover effect on China Milk.



Shares in Mengniu Dairy jumped as much as 9.6% on Tuesday on news it would invest a combined RMB1.6 billion with French food company Groupe Danone to make and sell yogurt products in China.



Mengniu and leading yogurt maker Danone will set up three joint ventures -- in Inner Mongolia's Hohhot, Beijing and Anhui province's Maanshan city -- to produce and sell fresh dairy products in China, it said in a statement.



The stock surged HK$1.7 to a record high of HK$19.4 as trade
resumed on Tuesday morning. By 0241 GMT, the shares had eased to
HK$18.72.



Mengniu said it could leverage on Danone's expertise and strength to significantly enhance its competitiveness in the manufacturing, and development of its dairy products.



The company competes with domestic dairy product makers such as Inner Mongolia Yili Co. Ltd. and Bright Dairy & Food Co. Ltd. and had said that rising raw material prices were putting upward pressure on its costs.

 

Worthy to collect if it drop again, but with one mean and trade w/care.

 

Like the rest, milk is down on profit take, worthy for day trader only.

UPDATED TIME	BUY	SELL	LAST DONE	CHANGE	PERCENT	VOLUME	VOL CHANGE

17:05:10	0.980	0.985	0.985	-0.010	-1.01%	4513	150

 

Milk on the run, not up but down to $0.995 -0.015 cents with a lower vol of 4.4 mil share traded.

 

UPDATED TIME	BUY	SELL	LAST DONE	CHANGE	PERCENT	VOLUME	VOL CHANGE

17:05:05	1.06	0.985	1.01	+0.035	+3.59%	6496	410

16:59:10	0.995	1.00	1.00	+0.025	+2.56%	6086	3

14:14:35	0.990	1.00	0.995	+0.020	+2.05%	3784	342

11:58:06	0.990	0.995	0.990	+0.015	+1.54%	2977	450

A final buying up of px at 17:05 and w/strong retail supprot at $0.99-$0.995. Seem current milk px is resilent at $1/- at the moment.

 

Chinamilk went up to a dollar +0.025cts and gone on to test $1.01. Isit going to test $1.03 ??, very likely