China Hongxing   

Good News for China Hongxin

Do not just look at the daily chart, always also look further timeframe like weekly n monthly chart.

Looking at the weekly candlestick chart shows a flagpole n pennant with support at 17.5 followed by 16.

Considering tat it had risen from a low of 5.5 to the recent high of  22.5, it is reasonable for it to correct to the support unless the last barrier support at 16 gave way.

In any case, this is my analysis, dyodd.

 

Exactly....

a) Subn holder manage to vote down the resolution to give management the authority to issue rights.  Making it, perhaps, the only company in recent times to get this honour. Why ?

b) 2,000,000,000 RMB of Cash.....should be a very good news....Why ?

c) Low dividend 1.5 RMB cts

d) Was 5cts two months ago, 18 now....3X....Either pple panic to dump at 5 or it is exactly worth more.  In any case, not much juice left......

e) Free Float of approx 2,800,000,000 shares......too many....should they be able to issue rights....ouch!!!

f) A sub holder sold 25M share in recent times.

g) It is cheaper now than 15 days ago.

 

newtothis      ( Date: 11-Jun-2009 16:27) Posted: I hold China Hongx for 3 weeks and sold them at a loss. too dangerous to touch after reviewing many times its report. Some figures really doesnt make sense. richtan      ( Date: 11-Jun-2009 14:35) Posted: Someone had again snapped up another 3000 lots @19 cts from the seller at 2.31 p

 

alright thanks pal!

 

I had previously replied to one fellow forumer, do a search under my username, richtan n "time n sales",  but remember u need to lokk at it in perspective (total buy n sell for tat day n past few days) n not jump to conclusion, saying "all people had exited this stock"  just bcos of tat last trade being sold down.

Dun call it winter just bcos u saw a dead sparrow.

At the end of day, u still need to set your stop-loss as "time n sales" is not a "holy grail".

fartist      ( Date: 11-Jun-2009 20:55) Posted: Sorry but may i ask how do you guys see if people are entering or leaving this counter? Thanks.

 

must take profits for stocks you do not intend to go long...

 

The fact tat u had lost money n had hold for 3 weeks, looking at the chart, obviously shows tat u had chased after the stock during the correction after the recent run-up.

To make money in stocks, u simply must learn to read the charts, not just reports. Learn TA. open the chart, apply wat u learn n learn from the mistakes u made.

If u are keen to learn TA, do a search under my username, richtan, as I had recommended some trading books & "Free tutorial on TA" websites.

newtothis      ( Date: 11-Jun-2009 16:27) Posted: I hold China Hongx for 3 weeks and sold them at a loss. too dangerous to touch after reviewing many times its report. Some figures really doesnt make sense. richtan      ( Date: 11-Jun-2009 14:35) Posted: Someone had again snapped up another 3000 lots @19 cts from the seller at 2.31 p

 

Tat depends on at wat price u bot, had u bot at or around the low or even at 17 cts n bother to study the charts, u should still be making tons of money from this stock.

newtothis      ( Date: 11-Jun-2009 16:27) Posted: I hold China Hongx for 3 weeks and sold them at a loss. too dangerous to touch after reviewing many times its report. Some figures really doesnt make sense. richtan      ( Date: 11-Jun-2009 14:35) Posted: Someone had again snapped up another 3000 lots @19 cts from the seller at 2.31 p

 

Sorry but may i ask how do you guys see if people are entering or leaving this counter? Thanks.

 

Wat makes u think tat "people are exiting this counter", kindly substantiate n back your statement, otherwise u are just spouting "hot air" n lacks credibility, take a look at the "time n sales", there are equally as many people entering as exiting.

In any case, be it people entering or exiting, set your cut-loss point once u enter a trade be it any stocks.

Dun call it winter just bcos u saw one dead sparrow.

newtothis      ( Date: 11-Jun-2009 17:12) Posted: yes you can. The last Final TX is at 17:05 People are exiting this counter.

 

yes you can. The last Final TX is at 17:05

People are exiting this counter.

 

Dear ALL, I am new here. Just wondering why the price at 16:59 is 0.185; however it turned to 0.180 at 17:05 with 3,488,000 unit sold down. Can they trade after market closed at 17:00 ???

 

I hold China Hongx for 3 weeks and sold them at a loss. too dangerous to touch after reviewing many times its report. Some figures really doesnt make sense.

richtan      ( Date: 11-Jun-2009 14:35) Posted: Someone had again snapped up another 3000 lots @19 cts from the seller at 2.31 pm richtan      ( Date: 11-Jun-2009 11:49) Posted: Someone had at 11.33 am again just snapped up 2500 lots from the seller at 19 ct

 

Someone had again snapped up another 3000 lots @19 cts from the seller at 2.31 pm

richtan      ( Date: 11-Jun-2009 11:49) Posted: Someone had at 11.33 am again just snapped up 2500 lots from the seller at 19 cts richtan      ( Date: 11-Jun-2009 10:33) Posted: Someone had again just snapped up 1000 lots from the seller at 19 cts, in 2 transactions, each 500 lots continuously, one transaction followed by the next one. Silent accumulation had been going on insiduously for quite some time aredi. Watchout. Very soon could be CHHX turn to run up.

 

haha, i got the same feeling too, it seems a bit dangerous n tricky....but all i can say is no stock is a safe heaven, once u bought it, u gotta take the risk....btw no risk no gain.....for me, eventhru i noticed this is seemed a bit 'special' but i would still hold this counter at a comfortable volume....in the event that this counter really slump or got bad news released, worst to worst i lose tht amount of money lor, bt if it appears in the opposite way, then i can stand a chance to make profit...

richtan      ( Date: 11-Jun-2009 14:11) Posted: Well, dyodd, if u think it is too dangerous to touch, then by all means dun touch lor. But tat does not mean others will read blindly n get frightened by your posting, smart traders always do their own due diligence n dun read n act blindly. Btw, my analysis n observation may b right or wrong, so dyodd newtothis      ( Date: 11-Jun-2009 13:39) Posted: this china hongx ...  looks very dangerous stock to touch.

 

Well, dyodd, if u think it is too dangerous to touch, then by all means dun touch lor.

But tat does not mean others will read blindly n get frightened by your posting, smart traders always do their own due diligence n dun read n act blindly.

Btw, my analysis n observation may b right or wrong, so dyodd

newtothis      ( Date: 11-Jun-2009 13:39) Posted: this china hongx ...  looks very dangerous stock to touch.

 

To me. apparently it is n ongoing for quite some time.

It appears to me tat this is silent accumulation in gradual low volume so as not to "frighten the snake".

Anyway, I may be wrong too, so dyodd.

lsj840428      ( Date: 11-Jun-2009 12:39) Posted: does it mean someone is accumulating this counter silently........looking at the current volume trend, it seems decreasing..... richtan      ( Date: 11-Jun-2009 11:49) Posted: Someone had at 11.33 am again just snapped up 2500 lots from the seller at 19 ct

 

this china hongx ...  looks very dangerous stock to touch.

 

does it mean someone is accumulating this counter silently........looking at the current volume trend, it seems decreasing.....

richtan      ( Date: 11-Jun-2009 11:49) Posted: Someone had at 11.33 am again just snapped up 2500 lots from the seller at 19 cts richtan      ( Date: 11-Jun-2009 10:33) Posted: Someone had again just snapped up 1000 lots from the seller at 19 cts, in 2 transactions, each 500 lots continuously, one transaction followed by the next one. Silent accumulation had been going on insiduously for quite some time aredi. Watchout. Very soon could be CHHX turn to run up.

 

i tot there was a time that china HX revealed their bank account balance in the newspaper....

newtothis      ( Date: 11-Jun-2009 12:13) Posted: sorry what i mean is China Hong never invest or snap up assets during the down turn... when they have so much cash. I have doubts if the cash is really there..... newtothis      ( Date: 11-Jun-2009 12:11) Posted: I am a bit scared ... if they have so much cash.... they already started to invest and snap up cheap assets during the first quarter of 2009. Is the money really there ? Check the retain earnings in your FY report its huge. I will not touch this share till the clouds clear up.

 

sorry what i mean is China Hong never invest or snap up assets during the down turn... when they have so much cash. I have doubts if the cash is really there.....

newtothis      ( Date: 11-Jun-2009 12:11) Posted: I am a bit scared ... if they have so much cash.... they already started to invest and snap up cheap assets during the first quarter of 2009. Is the money really there ? Check the retain earnings in your FY report its huge. I will not touch this share till the clouds clear up.