Username
Password
Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,134.71 +18.54 +0.59%
Hang Seng 26,664.28 +160.35 +0.61%
Dow Jones 27,001.98 -22.82 -0.08%
Shanghai Composite 2,978.71 -12.33 -0.41%
China Minzhong: Will It Be A Shorting Opportunity On Rebound?
Trend Spotting | 22 April 2013
By: Robin Han
Articles (102) Profile

China Minzhong Food Corporation has been on a downtrend since early March. When the Straits Times Index was trading sideways, China Minzhong has not been able to hold in consideration but started making new lows consecutively, showing a sign of weakness.

We can see that the moving averages crossed downwards and the MACD histogram also indicated a bearish signal suggesting that the downtrend is likely to continue. One may consider to short China Minzhong on strength during rebound. A 38.3 percent Fobonacci retracement will be a relatively safe entry for short. China Minzhong had just released its annual report on 14 February. The next report is likely to be released in mid-May and will not affect short term trading for next one to two weeks.

Daily Chart of China Minzhong

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

Please click here for more information about this author.


Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.