China Minzhong (technical)

China Minzhong: remains in the medium term downtrend which began in Mar this year. We may reassess toward a more positive view, if the stock can convicingly break above the $1.14 level, thereby dispelling the recent series of low highs and lower lows. Expect further downside pressure if the stock breaks below the 200day MA ($0.95) and the recent $0.91 low. The indicators are mixed now, with RSI flat, Stochastics declining and MACD rising, suggesting a near term period of consolidation around current levels.