[Opening Position in Qiao Xing Universal Telephone (XING)]
Dear Member:
Qiao Xing Universal Telephone (XING) is making a relatively strong move today and appears to be making a reverse head and shoulders on the weekly charts. It has been trending up since the latter part of March and has broken out of a channel today.. It has broken above one down trend line and appears to have decent support around $6.25. It has recently moved above the 20 day and 50 day exponential moving averages. I am placing an order to buy shares at a limit of $6.90.
DISCLOSURE: At the time of publication, I have no position in XING.
Sincerely,
Bill Kraft
|
