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Earlier Market Commentary Aug 2nd Week Posted In Millionpreneur

Market Commentary

04/08/2011 Aug 2nd Week

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August forecast: early August is considered normal, the following week is critical. 1500 is critical support. If it breaks below 1500, there will be correction till September. If it stays above 1500, seeing it touch 1600 above has difficulty, thus August is a sideway market tend towards retracement season.Index futures: As for August, if it breaks below 1500, get ready to short, stop loss is slightly above 1515. Short is preferred till it breaks above 1600, then only stop loss.China Press Reader Asked:

After years, PROTON once again becomes the best seller while MyVi is aggressive in its marjeting too. Is it a good time to buy PROTON shares, with reasonable return in investment?

PROTON, using ‘Millionpreneur Forecasting Software’, 1.50 is the lowest low. Using 1.50 to do forecasting, the prices on the Zi Wu Xian: 2.37, 3.44, 4.72, 6.19 and 7.87

Based on chart analysis, 1.50 is previous low, the first low which is the uptrend support level, it cannot break below 1.50, which is also stop loss level.

PROTON now is 4.7, Zi Wu Xian level where correction took place. It is preparing itself for double bottom formation when it retraces.

Now it is undergoing correction, it also reaches within the range of 3.44 where one could buy in with minimum position sizing. Repurchase again when it reaches 2.37. This is the mid-term investment approach.

Based on current situation, short term trend is a rebound trend. Once it breaks above purple EMA will it rebound higher.

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