Chart Pick - China Sun

Someone asked me, how to measure the price target of a stock if it has broken the double top neckline. My answer is the distance from support break to peak can be subtracted from the support break for a price target. In this case, China Sun price target should be 63 cents. By the way, China Sun closed right at 50% downward fibonacci retracement yesterday. (66 cents) We might see a technical rebound from here if not the next support would be the 61.8% downward fibonacci retracement at 57 cents.

Previous Chart

It is not an inducement to buy or sell. This blog is not liable for any loss or damage arising from the use of its information.

<< Home

This page is powered by Blogger. Isn't yours?