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Price Alert: China New Borun Corporation (NYSE:BORN) Stock Nears Resistance -- Technicals Hit Strength

China New Borun Corporation technical rating as of
(BORN Price of Stock at Publication: $1.3)

Price Alert: China New Borun Corporation (NYSE:BORN) has now crossed into technical strength -- watch the technical oscillators for momentum gaps. The company has not quite broken out to extreme strength, but rather sits at a four bull momentum rating -- that is strength but not yet through technical resistance.

The risk here is that the stock cannot break through the approaching technical resistance which could mean the current strength could flip. But for now, the stock price is moving slightly higher and does have room to the upside before it hits a potential wall of resistance and an overbought momentum rating of five bulls.



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BORN is down -0.8% over the last three months and up +15.0% over the last six months. The stock has returned -14.5% over the last year. The current stock price is $1.3.

BORN Stock Returns
The technical rating goes from a rating of one, the weakest upside technical, to a rating of five, the highest upside technical. This is strictly focusing on price and technical -- that means we focus on real-time stock price movement and then position it relative to the simple moving averages. To make the technical rating meaningful, the moving averages are also compared to each other.

Technicals   |   Support: 1.23   |   Resistance: 1.4099   



Golden Cross Alert: The 50 day MA is now above the 200 day moving average.
As we noted above -- the back of the envelope rule here is that when shorter-term moving averages move above the longer-term ones, momentum is building. We have that right now.

Swing Death Cross Alert: The short-term 10 day moving average is now below the 50 day moving average.
Recall that when we see the shortest-term moving average (10-day in this case) fall below any other moving average (50-day in this case), it indicates weakening momentum.

Pivot points are driving this: China New Borun Corporation has a four bull (top rated) technical rating because, while it is trading above its 10-, 50- and 200- day simple moving averages and the stock is up 2.36% on the day the day, the 10 day moving average is now below the 50 day moving average.




We now turn to the actual numbers driving this rating:
China New Borun Corporation (NYSE:BORN) rating statistics:
10-day moving average: $1.26
50-day moving average: $1.27
200-day moving average: $1.27