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China Precision Steel, Inc. Message Board

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  • cabogordon cabogordon Oct 20, 2007 3:41 PM Flag

    CPSL Charts

    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.

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    • 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.


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