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Short CPSL at 2.76

Filed Under (Steel, Stock Charts) by admin on 07-05-2009

Since I’ve been trading charts more, this is an example of an intraday breakdown. I honestly have no clue what this company does aside from the fact that it is called China Precision Steel Inc. but It just ran from 1.5 to 3 on earnings. Take a look below. As of this post, the stock is trading at 2.51 with no support. I did not find this chart myself and must credit Tim Sykes for his read. I set a stop at 2.61 just to be safe.

CPSL

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