China Agritech Inc. CAGC forms Bearish Tri Star Candlestick Formation

cagc20100315

CAGC the absolutely MASSIVE momentum China Stock Play that has been performing like a true champ, today finished forming a potential pattern that should provide a halt to the rocketing share price.

The pattern is the bearish tri star candle stick pattern.  The pattern consists of three candlestick doji’s in what looks like a tri star formation and there exists gaps between the top doji and the two bottom ones.

Now I gotta tell you, I would be the last man on this earth to recommend shorting a super strong momo China Stock like CAGC.  However in only 1.5 months CAGC has managed to rise 144% which is astounding.  That kind of move is unsustainable and in most cases needs some kind of retracement before it can continue higher.

Read more

China Stock SPU Sky People Fruit Juice Appears ready to reach for the Sky

SPU Sky People Fruit Juice appears to be in breakout mode at the moment or at least very close to it.  The stock has consolidated in a beautiful double bottom formation where the second bottom never managed to touch the first price bottom, a bullish sign. SPU trades quite thin as there are very few … Read more

SkyPeople Fruit Juice Inc. SPU tests February 8th swing on 54% more volume

SkyPeople Fruit Juice today tested its February 8th 2010 swing high on 54% greater volume which is a bullish sign that it should eventually be exceeded. Yesterday SPU gained about 12% and so I do not consider it unusual to get a pull back today especially since SPU drove right into previous resistance.  Only giving … Read more