Posts
Back in Singapore. So nice to be back home! Although I am still feeling a bit unwell from the trip, I am sure I will be OK after a day or two. If I had stayed another day or two in Hong Kong, I would have been utterly miserable. It's the weather, I'm sure. I will have a blog post on this trip in my Travel Photos and Videos blog later this evening or tomorrow. Look out for it. ;)
A week ago, I said that "We could very well see the support provided by the 100dMA tested at 70c in the next session. If it should break, next support could be found at 66c where the rising 200dEMA would be approximating soon. The 200dEMA, being a long term MA, should be able to provide a much stronger support in case of further decline in price."
Well, price did not test the 100dMA in the following session but it did yesterday. In TA, it is hard to have exactitude but if we could get rough estimates right, that's not bad. OBV has gone lower which suggests continuing distribution. The 20dMA is about to complete a dead cross with the 50dMA. All eyes are now on the 100dMA and whether it could hold up as support. If it breaks, price could sink to 63c, the support provided by the flattening 200dMA. I might add to my long position then.
Related post:
Golden Agriculture.
Bloggy Award
2 comments:
Hi AK71
I am thinking to enter Golden Agri at 66c and if it sink to 63c then add more.. buy along support, rite? What is yr view on this? :D
Hi Ortho,
TA would tell us to buy at supports only in an uptrend. However, mixing FA and TA, we could buy at supports as long as we think the entry price provides good value and upside potential. ;)
Sure, why not buy at 66c and buy more at 63c if ever tested. If you are comfortable with the idea, go ahead. :)
Post a Comment