AutoChina (AUTC) Sees Afternoon Buying
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Shares of AutoChina International Ltd. (Nasdaq: AUTC) are ripping higher this afternoon, up 11.8% on lighter volume.
AutoChina stock appears to be gaining traction above the $35 resistance price level, which was attempted yesterday but didn't get enough momentum to carry it forward.
Chinese stocks have seen plenty of action lately, mostly to the downside. The recent flop, China Shen Zhou Mining (AMEX: SHZ), is falling on a negative research report out of Absaroka yesterday, and Muddy Waters announcing that they were short the stock.
AutoChina stock appears to be gaining traction above the $35 resistance price level, which was attempted yesterday but didn't get enough momentum to carry it forward.
Chinese stocks have seen plenty of action lately, mostly to the downside. The recent flop, China Shen Zhou Mining (AMEX: SHZ), is falling on a negative research report out of Absaroka yesterday, and Muddy Waters announcing that they were short the stock.
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