Stock in Focus: China Banking Corp. (CHIB)

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The month of May is about to close and yet China Banking Corp. (stock symbol: CHIB) has not shown any positive signs to indicate bullish prospects are up ahead. China Banking is down 0.90 percent this week.

Philippine Stock Exchange, China Banking Corp_CHIB Daily chart, May 23, 2014

CHIB Daily chart, May 23, 2014

The Money Flow Index (MFI) has stayed below the 50 level since mid-April, in line with gloomy price action.

CHIB needs to move back above 60 as soon as it can. The critical support area is very close and lies around 47-50.

TP’s Advice: Continue to avoid this stock. Price action may get worse.

Do you have CHIB in your portfolio? Share your thoughts below!

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