Heng Xin

A friend on CNA forum asked me to take a look at this stock, Heng Xin. I agreed to check it up.

Well, unfortunately this is one of the set back of technical analysis. It needs back data to observe a pattern and is not useful for a newly IPO stock.

Anway, I took a look at the stock. Basically I only have RSI which tells me that it is still on its way down. There is still no indication that it may reverse yet. The candle stick has top off with a shooting star pointing down. Base on previous low, the support level at the moment is 0.450.

What I will be looking for on this stock is not on its up trend, but the stop loss level. If this stock falls below 0.405, then I will exit with a stop loss.

If on the other hand, the stock goes up. the resistance level is 0.545. But for tomorrow, my guess is that the stock will peak or supported at 0.45.