Recently, there has been an increase in the volume of China Fishery, evident by the price thrust bars and the volume spikes. Currently it is resting with low volume. Looking at the 50-200 SMA, it really seems that this stock might have turn the corner. 200-SMA is flat at the moment. If it continues to go up or at least stay sideways, I think the 200-SMA will start to turn up. I think we have a valid Golden Cross here.
This is the bigger picture for China Fishery. Has been downward trending for 3 years, with the slope of the fall easing in the last 6 months or so. Once it clears $0.60 resistance, can definitely say it turn corner. But I am tempted to go in now since we have a Golden Cross, a spike in price and volume, followed by the low volume rest. Tempting...
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