The email address in "Contact AK: Ads and more" above will vanish from November 2018.

PRIVACY POLICY

FAKE ASSI AK71 IN HWZ.

Featured blog.

1M50 CPF millionaire in 2021!

Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.

Archives

"E-book" by AK

Second "e-book".

Another free "e-book".

4th free "e-book".

Pageviews since Dec'09

Financially free and Facebook free!

Recent Comments

ASSI's Guest bloggers

Courage Marine: Triple bottom?

Tuesday, June 15, 2010

An old friend from University asked me out for dinner earlier this evening. We met up and he asked if there are any good penny stocks now to go long on.  Without hesitation, I asked him to look at Courage Marine.

Courage Marine has confirmed the long term support of 17.5c again and again.  Today, it broke resistance provided by the declining 20dMA at 18.5c.  This incidentally is a many times tested resistance level.  Closing at 19.5c, it is resisted by the declining 100dMA.  The way upwards might be difficult as three MAs have to be overcome.  Without an expansion in volume with any upward movement in price, it would be difficult to have a breakout.




However, in terms of chart pattern, Courage Marine might well be forming a triple bottom. If this reading is correct, the neckline is at 21.5c and the target is 25.5c.

I am currently vested in Courage Marine and might add to my position if it confirms that 18.5c is resistance turned support.  For anyone thinking of going long, 18.5c is a fair entry price.  The downside seems limited with the long term support at 17.5c.  The risk reward analysis provides an attractive proposition.

Related post:
Courage Marine: Riding the waves of recovery.

0 comments:


Monthly Popular Blog Posts

All time ASSI most popular!

 
 
Bloggy Award