They chose financial independence over home ownership.

This is somewhat extreme but watch how this Canadian couple chose financial independence over home ownership.  They are in their 30s and,...

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"E-book" by AK

Second "e-book".

Another free "e-book".

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Raffles Education: Broke resistance.

Wednesday, January 19, 2011

A spectacular breakout today with a 3c or 10% gain for Raffles Education! A wickless white candle was formed on this up day although it was preceded in the previous two sessions by a spinning top and a doji, both potential reversal signals. So, the resistance at 30c so decisively taken out today was as surprising as it was spectacular.

Buy signal is spotted on the MACD histogram while the MFI and RSI remain in overbought territories. OBV shows a spike in accumulation. Question: Could the price go much higher? I see the next resistance at 34c which was the high of 12 July 2010. The current price of 33c is also a strong resistance as provided by the 150% Fibo line and if 33c were taken out, 34c is most likely attainable.

Raffles Education: Acquisition of Merchant Square. Fair value estimate decreases marginally from S$0.285 to S$0.28 (still based on 18x FY11F EPS). Maintain HOLD. Read research article here.

Related post:
Raffles Education: 200dMA resistance again.


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