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| Penny Stock Forum Penny Stocks are low-priced issues, often highly speculative, selling at less than $5 a share. Penny Stocks are traded on pink sheets and the OTCBB |
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03-09-2010, 12:27 PM
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Stock Market Newbie
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Join Date: Mar 2010
Location: www.marketopenlive.com
Posts: 12
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CPSL - China Precision Steel, Inc. (NASDAQ stock)
CPSL is a $122 million basic materials company that engages in the manufacture and sale of high precision cold-rolled steel products in the People's Republic of China. CPSL has been downtrending for months after making a huge run higher in the middle of 2009. On Monday, the downtrend was broken on massive volume. This will likely lead to further gains, although CPSL is slightly overbought with an RSI already piercing the 70 level. We would expect any pullback to the $2.40-$2.50 area to represent a solid entry point. A close below $2.30 would be an initial warning sign, but the big closing support level is $2.14. In time, CPSL could challenge the 2009 highs near $3.30.
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03-09-2010, 01:28 PM
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Administrator
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Join Date: Jun 2007
Posts: 12,425
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Re: CPSL - China Precision Steel, Inc. (NASDAQ stock)
Quote:
Originally Posted by InvestedCentral.com
CPSL is a $122 million basic materials company that engages in the manufacture and sale of high precision cold-rolled steel products in the People's Republic of China. CPSL has been downtrending for months after making a huge run higher in the middle of 2009. On Monday, the downtrend was broken on massive volume. This will likely lead to further gains, although CPSL is slightly overbought with an RSI already piercing the 70 level. We would expect any pullback to the $2.40-$2.50 area to represent a solid entry point. A close below $2.30 would be an initial warning sign, but the big closing support level is $2.14. In time, CPSL could challenge the 2009 highs near $3.30.
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Hell of a setup on it. Blasted out of the consolidation area. Good find and analysis.
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03-11-2010, 03:22 PM
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Pink Sheet Stock
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Join Date: Mar 2010
Posts: 28
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Re: CPSL - China Precision Steel, Inc. (NASDAQ stock)
YES! good analysis man, imma be playing this one for sure
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03-11-2010, 04:00 PM
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Administrator
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Join Date: Jun 2007
Posts: 12,425
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Re: CPSL - China Precision Steel, Inc. (NASDAQ stock)
Getting to the point where its decesion time. Pulled back to support. Should make a move tomorrow.
CPSL Chart
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10-03-2010, 06:29 PM
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Administrator
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Join Date: Jun 2007
Posts: 12,425
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Re: CPSL - China Precision Steel, Inc. (NASDAQ stock)
CPSL now in an upward channel.
CPSL Chart
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11-15-2010, 10:16 PM
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Administrator
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Join Date: Jun 2007
Posts: 12,425
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Re: CPSL - China Precision Steel, Inc. (NASDAQ stock)
Upward channel still in play..
Quote:
Originally Posted by greencat
CPSL now in an upward channel.
CPSL Chart
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