Harbin Electric has been releasing great news after great news. Projected revenues update in the last PR was great and exceeded my estimates. It has a low float, and thus its trading could be sideways for some time, until it catches either momentum or another great PR is released. Nevertheless, it's a great long term hold, which may have bumps here and there.
Technical analysis of the chart - $14.50 - 15.00 is a major resistance area. Once it pushes through this area, I believe we should see a nice upside. I'm expecting to see $19 as the first target from these levels.
Wednesday, September 26, 2007
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