good work , although as a fellow chartist , indexing CPSL to a AMEX , inaddion to non ADR's does not have whole lot of revelance. secondly, you need to look at 50 , 100, 200 MA for support, 10 is not support, its near 8 ( sorry just did a quick DD ) nevertheless, its does show oversold, but so does every stock around the world. i don't own a positon here, i don't like reverse mergers , PERIOD> they come with 2 many problems./ I DO LIKE GSI... great story, although its a value play not a techincal trade, u have to look both at fundemental and techincals , at least i do. I would not be a buyer of cpsl, but, i would not sell it right now either for a loss that is, i would wait till the chinas get some momo next week and sell into the buying. thanks for the charts. took some time.
The 50, 100, and 200 day SMA's are not particularly relevant in the case of CPSL which has undergone a radical shift in market conditions over the course of the last two weeks. There is some support at 8 too, but 10 was a more significant level due to the amount of volume traded at that price, IMHO.
The oversold indicator is also not relevant since CPSL is now in a downtrend and you should only only follow the stochastic when it agrees with the trend. What _is_ relevant is that CPSL is failing to reach overbought levels indicating a shift in sentiment to the bearish side.
i hold no position in cpsl . but 50, 100 , 200 MA r very important, 10 was pivot point , but the generals ( hedgies, mutual, rougue traders ) protect MA lines , not volume pivot points, nevertheless, u make gd points, thanks,, off to watch USC... any thoughts on GSI....