Stock Chart Analysis JRJC

Posted by downtowntrader | 10/16/2007 09:41:00 PM | 1 comments »

Stock Chart Analysis JRJC

China Finance Online Co. (ADR) (Public, NASDAQ:JRJC)

Chinese stocks have had a chance to take a breather over the last week, but it seemed like some started to perk up today. YTEC, EDU, CPSL, and CHDX had some buying and other reversed off their lows. JRJC is one of those that started a little weak falling a point and a half from the open, but found a floor and moved over 4.5 points from the low. It backed off the highs but was trading back near 40 in the AH market. Overall JRJC is sporting one of the better looking charts in the "China" sector and it has healthy volume. It has had a huge runup, but is consolidating in a bull flag pattern which can result in powerful breakouts equal to the trend that preceded the consolidation. JRJC may of given a buy signal today, but with Asian markets weaker overnight, it could give another opportunity with a lower open in the morning provided it holds reasonable support. Other China stocks that may be in a decent spot are CDS, CHNR, RCH and maybe CTEL depending on how it develops intraday.

Good Trading,


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