China Petrotech

After breaking the triangle on 21 Mar 07 and MACD crossing the zero centerline, this stock has push up to break its resistance at 0.325, 0.35 and its long term trend line resistance at 0.47 and reach its peak at 0.525. This stock has changed from downtrend to uptrend. With the market showing sign of weakness after recent rally, there may be profit taking going around for this coming few days.

As long as the MACD staying above the zero centerline, it will be a good time to enter when the indicators show sign of moving up again.

China Petrotech

China Petrotech has broke the triangle and closed at 0.415 today. MACD, Stochastics, RSI all moving upwards, Positive sign. Next resistance at 0.425 follow by 0.45.

With the new contract, I think this stock is good for long term.

China Petro Secures Larger Scales Integrated Oilfield Services Contract

You may visit its website for more detail.

http://www.listedcompany.com/ir/chinapetrotech/newsroom/CPHL.Larger.IOSC.pdf

China Petrotech

03-Jan-2007 19:27:16 GRANT OF SHARE OPTIONS PURSUANT TO THE CHINA PETROTECH EMPLOYEE SHARE OPTION SCHEME The Board of Directors of China Petrotech Holdings Limited (the "Company") wishes to announce that the Company had offered options to senior executives and Independent Directors of the Group under the China Petrotech Employee Share Option Scheme (“the Scheme”) to subscribe for, and be allotted an aggregate of 4.9 million ordinary shares in the Company at an exercise price of S$0.45 per share ........ Today, the stock is trading at 0.435~0.455, supported at 0.43. It is good to enter at present price 0f 0.44, may cut loss once it fall below its support level at 0.43.