China Minzhong - Fibon Analysis

Based on fibonacci retacement, MZ consolidate at retracement point of 61.8% for sometime but unable to rebound off it. Then come last week sell down by unknown fund house, bring them to 50% (another golden support at S0.92). Given that I had buy in a few times on MZ, my capital has been quite tight after my last avg in at S$0.92. Hopefull, it starts to rebound from here. Else next support point will be S$0.86 which is abit dangerous for me.. Good luck to myself.

China MinZhong - Review

If you track my last post on China Minzhong on Dec 2011. My call for buy was on spot. Within 4 mths, it had already hit my 6 mths target price of S$1.10. However, I did not hold until my own TP.. nevertheless, I still make nice profit from it. Now I am back again into this counter with full force.

During month of April 2012, there were a number of open market buy up of Minzhong. Today, Franklin Resources, Inc. and Templeton Worldwide, Inc. both increase their stake to above 8%. TA looks abit flat, therefore, it might take some more time to starts its rally. But overall its consider bullish on this counter.

S&C call for buy at S$0.995. With initial TP at S$1.05 and 6 mths target at S$1.30.

China Minzhong Rebounded

Post Christmas Highlights:
China Minzhong rebound off their lows of $0.665 to $0.765 as of posting timing.

Coupled with positive press release marking their 40th years anniversary together with the official start of their new industrial park. Its processing capacity is approximately 3 times the current capacity which will spur further growth. The group also sees no slowdown in demand for vegetables so far despite European crisis and global economic uncertainty. Link to press release: http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_C9D5027CC480F6404825797200821A0B/$file/Minzhong_PressRelease_27Dec11.pdf?openelement

Currently still holding on to 45 lots of China Minzhong. Based on the chart reading, MACD turning positive and on the way to create cross over. As mentioned on my previous chart reading. Best time to buy is when MACD not yet crossing over. Immediate target to load will be about $0.80 with resistance level near $0.825. If more positive news on macro, there may be a chance of breakout too. Keep watching. S&C recommend a buy with TP $0.80 short term and $1.10 in 6 months.

Market Review 8 Dec 2011 - Capitaland, NOL, China Minzhong

Recap: Last review on noble was spot on. It rebounded from 1.06 to a high of 1.245. But I didnt follow through my analysis and too impatient. Else I would have reap about 2k profit. Another of my trade Sakari did pretty well too, entering at 1.885 and I exited way too early at 1.94. Which later balloon to as high as 2.11. missing out a 1k potential profit again. Cool entry but poor exit. Need to improve on this.

After a week of rally, I cannot find any interesting stock to long. Therefore went short on NOL. I also may go long on China Minzhong. (need to watch closely in case it break the support line.)