China Hong Xing has fallen from peak of $1.45 on Oct 2007 to a low of $0.34. That is a whopping 76% drop.
The technical indicator is showing a mixed picture.
The price is closed to the lower Bollinger band and 20 days moving average is showing sign of flattening.
The –DI is greater than +DI which is a bearish signal. However the ADX is also decreasing suggesting that the stock may consolidate in the current region before a new trend develops.
The MACD line is about to cut the MACD Signal line which is a bearish sign. However there is a possibility of a MACD divergence as shown in the MACD histogram. So the bears may cover their shorts and wait for the price action to confirm the next move.
The technical indicator is showing a mixed picture.
The price is closed to the lower Bollinger band and 20 days moving average is showing sign of flattening.
The –DI is greater than +DI which is a bearish signal. However the ADX is also decreasing suggesting that the stock may consolidate in the current region before a new trend develops.
The MACD line is about to cut the MACD Signal line which is a bearish sign. However there is a possibility of a MACD divergence as shown in the MACD histogram. So the bears may cover their shorts and wait for the price action to confirm the next move.
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