Hong Yuan Holding Group (HGYN)

[Dr PennyStock]

CERP annotated daily chart including supports and resistances.

Very important to understand how to read charts: previous supports become resistances, and, previous resistances become supports.


Supports and positive points are signaled with green, resistances and negative points are signaled with red.


Supports: .0195(previous support, green line number 2), .0182(PAR SAR and base of the ascending channel, green line number 7) and, .01 - .0096(previous support, green line number 1).


Resistances: .025 - .026(previous resistance and support), .033(previous resistance), .04(previous support and resistance, red line number 3), .054(previous support and resistance, red line number 4), .0873(previous support and resistance, red line number 5), .175 - .19(previous strong support, red line number 6).


Positive points:

- The RSI still has much room to run, and, is pointing up.

- The PAR SAR is acting as support, and, also forming like an ascending support trend line.

- The stock is trading inside an ascending channel.

- The MACD already crossed up two and a half months ago, this means strong accumulation.

- Finally, the ADX, the +DI and the -DI lines are almost touching, and, they will bounce to opposite directions, causing a strong bounce to the up side, because the +DI has much room to run.


Negative points:

- Nothing, at this time.


Daily chart