China Petrotech 001
Watching this counter closely now, more for learning sake than anything else.
Contrary to my beginner’s analysis that the company has iffy accounting practices with the news of replacement of their CFO and some other’s analysis that TA suggests that the counter is trending downwards, the price movement seems to be moving up nicely.
Yesterday just after lunchtime, it announced a new oil find as well. More speculators would surely pump the counter up again. Will observe how it moves later.
It is worthy to note that China Petrotech does not deal with oil directly but rather it is a investment holding company which also trades in computer hardware. Rather misleading for speculators who don’t read into the company details.
