China Growth Stocks

[Traderfan]

CCME, Rames


Looking at the chart I don't see any significant resistance at 12.50 on CCME. In fact we had 3 spikes within the last few weeks and they all stopped between 12.75 and 12.85 so that is certainly the resistance area. If 12.50 is your buy stop you would have been in the stock 3 times lately just to see it sell off again. IMO



CCME looks more and more like dead money until it finally breaks $12.50 on volume. I'm tired of this tight range for the past 5-6 weeks, sold all of mine after VISN numbers and will not buy back before I see $12.55 or so (after 10 am).

I believe in the story and the target should be at least in the mid-20's, doesn't really matter for my profits if I own it now or buy it 80c higher when it moves.