Star Stock: China Sun to shine again!

Immediate Resistance: 1.05
Immediate Support: 0.86

I was busy for the last 3 days, therefore I hadn't updated my blog as often as I used to be. I remain quite bearish on the short term of STI. However, if I were to buy a stock in this "bearish" market, I will pick China Sun. China Sun has formed a pretty nice Elliot Wave in the past few weeks. Wave 1 started from 0.44 to 0.72, Wave 2 ended at 0.58, Wave 3 rallied to 0.985 and Wave 4 stopped at 0.83. Currently, China Sun should be in Wave 5 which has a price target of 1.23! (maybe wave 5 is triggered by the announcement of the ethanol?)