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[HC]

City Dev (2009-06-25 closing price 8.80)

City Dev bounced up now hitting breakdown neckline, but yet to overcome the short term down trend line.  Let us see how this goes.

[CU]

2009-07-02 Daily Chart [$8.51]

City Developments Limited 城市发展
- daily ADX has dropped to a low level below 20, an occasion last seen back in end-Apr, suggesting non-trending and possible low volatility
- 40days sma remained uprising like its previous occasion while share price briefly hit below
- immediate support found along 38.2% retracement (approx. 8.00) while Stochastics (5,3,3) is about to reach oversold situation

Signal - trading buy when share price came close to 8.00
Support - 8.00 / 7.30
Resist - 9.00
Duration of Validity - 2 weeks

[CU]

2009-07-12 Daily Chart [$8.20]

City Developments Limited 城市发展
- as we can see, stock merely breach uptrend line and made a strong rebound. 8.00 (an estimate based on 38.2% retracement) is a fruitful trade if we consider the intraday low of 7.71 is ignorable
- there is two rebound observed back in Jun and they were very short-lived as marked by 1 & 2, therefore the current rebound does not expected to last too

Signal - sell on strength...
Support - 7.30 / 6.50
Resist - 8.76 (approx.)
Duration of Validity - 2 weeks

[HC]

City Dev (2009-09-08 closing price 10.98)

Today City Dev break resistance on high volume, volume distribution chart show present of big buyers.  Next resistance 12.00.

[HC]

City Dev (2009-11-02 closing price 9.89)

I don't like the look of this chart: a potential H&S formation in progress.  watch support at 9.50-9.60.