Yu Kwan Lung: DONGFENG GROUP (00489) Buy: $11, Target: $12.3, Stop: :$10

AAFN - Top News

2012-07-10 09:28:46

Size

Yu Kwan Lung, independent analyst, said reading from the trend of the share price, 10-day moving average is now at $11.68. 50-day moving average is at $13.02. It swings below the 10-day moving average, which mirrors to be ease. Meanwhile, RSI-14 is 31. It hovers below the 50-mark level, which suggests to staying on weak side. In the Stochastic Oscillator, %K climbs above %D as it unveils a buying signal.

Analyzing the share price movement, the long-term low ( 4/10/2011 ) is at $8.81 and the recent high ( 22/2/2012 ) is $15.8. Measuring from the recent high, Fibonacci 0.500 correction from the recent high is at $12.3. 0.618 retracement is at $11.48. It hovers below the 0.618 retracement, and stays in a typical correction. However, It seems to gain ground and consolidates at recent level. (y)

AAStocks Financial News
Fax: 852 2186 8286
Email: newsroom@aastocks.com
Web Site: www.aastocks.com

News Provided by AASTOCKS.com

Hotline:(852) 2186 8685

Email:support@aastocks.com

Sitemap

Back to the Top

AASTOCKS.com

Mainpage

Products

Market

Quotes

Analysis

News & Research

Warrants

CBBCs

MPF

US Stocks

Forex

Funds

Members

About Us

AASTOCKS

China Site

Note: AASTOCKS.com Ltd endeavors to ensure the accuracy and reliability of the information provided but does not guarantee its accuracy or reliability and accepts no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.