China Hongxing: Immediate target in sight?

On 27 August, I mentioned that "China Hongxing's volume expanded today as it retested resistance at 17c. Unlike in early August, the technicals are now looking much stronger and China Hongxing's share price could break 17c this time round."  Today, China Hongxing closed at 18c on high volume.

The MACD has completed a bullish crossover in positive territory. The MFI is rising, forming higher lows, suggesting strong demand and it is nowhere near overbought yet. OBV shows no sign of distribution and accumulation is powering ahead. RSI is just peeking into overbought. Overall, the immediate target of 19.5c identified on 27 August seems attainable.

Related post:
China Hongxing: Retesting resistance.

Saizen REIT: More insider moves.

A substantial shareholder of Saizen REIT, V-Nee Yeh, increased deemed interest in Saizen REIT from 20.201 % to 21.976 % (209,572,352 units).  This is a consequence of the open market purchase of units by ASM Hudson River Fund,  ASM Asia Recovery (Master) Fund and HC Capital Limited.

AND

Chang Sean Pey, CEO of Saizen REIT, converted 842,000 warrants into 842,000 new units.  He now holds 2,200,000 units of Saizen REIT.  This is 0.23% of total issued capital.

The percentage figure of issued share capital (after the transaction) was calculated based on Saizen REIT’s total issued 956,304,205 units as at 30 August 2010. It should also be noted that Saizen REIT had 490,053,212 warrants outstanding as at 30 August 2010.

Related post: 
Saizen REIT: Insiders buy.