China Environment (technical)

China Environment: UOBK Technicals says Sell with TP $0.31 , as the stock may continue to retrace as it has failed to hold at its previous low on 9 Apr 14, suggesting a breakout below $0.42. Its 50-day EMA could turn down to form a dead cross with its 200- day EMA and its MACD indicator has formed a bearish crossover beneath its centerline, which is also coupled with a –DI/+DI crossover. Protective stops could be placed at $0.465.