CHINA ANIMAL HEALTHCARE (22.5 cents) – Heading back to 2008
- Prices could yet decline further
- Prices are headed towards 2008 level
CHINA MINZHONG (87.5 cents) – Temporary reprieve for a penny stock
- Prices are at their lowest since listing
- Resistance at 90 cents
- Prices are likely to break 84 cents which indicates a target of 60 cents
SYNEAR FOODS (12.9 cents) – Testing crisis low
- Prices appear to have stopped falling
- Recovery doesn’t look forthcoming
- Near term price movements are between 12 and 14 cents
SOUND GLOBAL (46.5 cents) – Heading south
- Global financial crisis low of 17 cents could be retested
- Psychological 50 cent mark is likely to act as resistance
MIDAS HOLDINGS (34 cents) – Approaching 2008 low
- The 2008 low was 29 cents and prices are approaching this level
- Recovery may be meager and insipid
YANDLORD LAND (83.5 cents) – Support appears at 2008 low
- Current rebound is temporary and prices have yet to bottom
- Selling pressure still exists on the weekly chart
(Source: TheEdgeSingapore October 10, 2011)
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