China Precision Steel Pops on High Volume (CPSL)

Shares of China Precision Steel Inc. CPSL are rocketing higher today; currently, the stock is higher by 11.73%, currently trading at $1.81. The stock is moving higher on over 4x the 10-day average stock volume and is now trading above both the 18-day and 50-day moving averages, which are key, early signals of the beginning of a new bullish trend. First resistance on the topside is near $2.00. Benzinga highlighted CPSL as a long-term Buy 2 months ago; shares have risen 16.8% since the call. For the entire thesis visit… http://www.benzinga.com/trading-ideas/long-ideas/10/06/342396/playing-long-term-global-growth-in-the-steel-sector-cpsl-nue-x China Precision Steel, Inc. is a steel processing company principally engaged in the manufacture and sale of high precision cold-rolled steel products and in the provision of heat treatment and cutting of medium and high carbon hot-rolled steel strips. The company conducts its operations principally in China through its wholly owned operating subsidiaries, Shanghai Chengtong Precision Strip Company Limited and Shanghai Blessford Alloy Company Limited. Looking for more high quality, stock and options play? Check out Benzinga’s Options & Volatility Edge and the soon-to-be-released Benzinga’s Jackpot Stocks newsletters… http://www.benzinga.com/premium/services