In theory, this trade worked out as expected though in actual, it is not easy to sit through ont the way down as it took almost a month with some minor rallies in between.
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| YZJ |
Showing posts with label YZJ. Show all posts
Showing posts with label YZJ. Show all posts
Sunday, March 25, 2018
YZJ head & Shoulders target hit
On 9 Feb 2017, I noticed that YZJ has formed a bearish H&S pattern. However the ideal opportunity to short this counter came only on 27 Feb when it broke down from the neckline and then rally back up to test this neckline before failing the next day. From there (about 1.50), it was a 30cts (20%)move towards the H&S target at 1.20 which was hit on 25 March.
In theory, this trade worked out as expected though in actual, it is not easy to sit through ont the way down as it took almost a month with some minor rallies in between.
In theory, this trade worked out as expected though in actual, it is not easy to sit through ont the way down as it took almost a month with some minor rallies in between.
Friday, February 9, 2018
The Markets Had a Big Sell Off, what's next?
The free fall in the markets that started a week ago on Friday (2 Feb 2018) which cumulated to a low on Tues (6 Feb 2019) was a rather huge plunge of 12% for the US markets and 7.5% for STI.
For a fall of this magnitude, I am cautious that the "perma" US uptrend has been disrupted and we can expect volatility ahead. I am still expecting a rally/rebound of blue chips in the coming days and where the next rally ends will give a clearer picture of whether what is happening now is just a much needed correction or a sign that the market is getting toppish.
The market could be finding some support now and I am looking for possible short term upside in the charts below. However, should any of these significant supports be breached, then I will cut and stay out until the dust settles.
(click on the charts for a larger view)
For a fall of this magnitude, I am cautious that the "perma" US uptrend has been disrupted and we can expect volatility ahead. I am still expecting a rally/rebound of blue chips in the coming days and where the next rally ends will give a clearer picture of whether what is happening now is just a much needed correction or a sign that the market is getting toppish.
The market could be finding some support now and I am looking for possible short term upside in the charts below. However, should any of these significant supports be breached, then I will cut and stay out until the dust settles.
(click on the charts for a larger view)
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S&P - Finding support at 200 Day Moving Average?  OCBC Bank 
SATS
On the Flip side, not all stocks are equal. Some stocks like YZJ have confirmed a bearish Head and Shoulders formation and could be heading lower in the coming days.
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Any view, analysis or opinions expressed here do not constitute an investment advice nor inducement to trade. It
does not have any regard to your specific investment objectives, financial
situation and any of your particular needs. Accordingly, no warranty whatsoever
is given and no liability whatsoever is accepted for any loss arising whether
directly or indirectly as a result of this information. Investments are subject
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