China Sun
ADX rises from 16 to 17, with a strong surge (10 times) in trading volume. The trading range is around 3 times the previous day. Stochastic is going up with rising prices, signaling healthy trend.
However, there are resistance from sellers. Even though the price traded up to $0.34, sellers are pushing it down to the closing at $0.32. MAs are all pointing down, although there could be a positive change in 25d MA.
It seems that the resistance level at $0.335 is a crucial breakout point. Based on the 10 times surge in trading volume, I am willing to take on a slight risk.
Recommendation
LONG at $0.32
STOP LOSS at $0.28
TARGET PRICE at $0.366
Reward/Risk Ratio: 1.15
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