Friday, October 26, 2007

WanXiang

WanXiang ($0.37, 20071026):

3 months after IPO in July, a profit guidance was issued today. Looking at its charts, one can find several warning signals:

1. Bearish signal started to cross down in early October (Chart 3)
2. Price fell into the lower price band (Chart 1), a sell signals appeared (Chart 4) and the Trix sell signal was triggered (Chart 7)
3. MFI and RSI turned bearish (Charts 5 and 6)