clarified presentation, page-18

WangChung

PIR chart.

Has hit the 38.2% retrace two days in a row at 39cents.

Stochastics turned down and all other indicators coming down from being overbought.

SP pulling back to the 20day EMA (blue line) as expected.

61.8% retrace (34cents) should be out of the question as the 20day EMA is above this line at 34.26 and the sp hasn't even touched this line since it's run.

The next fib at 50% is sitting at 36.25. It might head here if the 39cent doesn't hold.

There is no FA reason for the sp to drop any further other than short term profit taking. IMO the sp has retraced quite as expected and should find it's feet again around this 40 cent mark.

As the stock doesn't have many shares available and there's been an overwhelming increase in the traded daily volume, it is obvious that traders are on board. There will be a natural sell off from T+3 traders that bought in on Friday and Monday.

FYI - the company made presentations to various institutional investors in Hong Kong on Monday, London today and will make another in Zurich tomorrow.

cheers
Ange