China Sunsine – [Broken Down From Our Uptrend Line]
Chart Source: Poemsview 2nd July 2018
China Sunsine had been trying hard to break the resistance at $1.56 or the 20 days moving average. It failed to do so for the last few attempts and even broke down from its uptrend line which it has been rebounding off so far.
For now, China sunsine support might be at $1.49 breaking which might see it fall further to even $1.36 with minor support along the way.
China Sunsine is slightly on the lower side of its liquidity so that is something we would be taking note of it. What it means is that the price movement can be rather erratic and fast. In addition a large quantity might have some difficulty in being filled.
So we will always be mindful of such counters.
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