Wednesday, January 6, 2010

China Taisin Gap Up with Gravestone Doji at Mid-day Closing




APPROVAL AND ADMISSION TO AMERICAN DEPOSITARY RECEIPT exuberant gapped price to test red channel resistance in early morning trading. However, this buying frenzy was met with Big Bears Selling resulting in an equilibrium state for the early morning trading session as indicated by the volume distribution chart. Mid-day closed with a gravestone doji and will continue to fall to narrow the gap in afternoon trading if Big Bulls do not return later in the day. Late morning buying was done only by retail traders thus price will drop towards the light green support zone if there is no support from the Big Bulls.

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