Huge Waves (2010-12-07 3303.HK analysis)

Well, HSI kept on moving upwards. Make sure you are aware of the next resistant level at around 23,700.

Today I suggest another small-cap stock to everyone which definitely worths your attention.

Daily Chart of 3303.HK Jutal Oil Service:


Jutal is a chinese phrase meaning "huge waves". Anyway, the Group is principally engaged in provision of technical support and related services for oil and gas industry and sales of equipment and materials, fabrication of oil and gas facilities and oil and gas processing skid equipment, provision of technical support services for shipbuilding industry and engaged in civil engineering business. --- from http://www.aastocks.com

As we can see on the chart, the price of 3303.HK tried to break the level of 1.18 twice but failed. Here comes the third trial. The big surge yesterday led the stock to break the red uptrend line, and move closer to the level of 1.18. This is a critical level, if it can break this, I will expect further boost to 1.37.

However, the volume was too great yesterday. Those who are optimistic on it might have spent too much on it which give less power for it to further rocket. The support will be around 1.12 which is the red uptrend line.

If it breaks 1.18 level and closes above it, I would add it into JPHK. Why not catch the huge wave created by this "Huge Wave"?