Sponsored Links

Medisave voluntary contribution in 2018.

I updated a blog on the CPF-MA yesterday: "For those under 65, the Basic Healthcare Sum next year will be S$54,500, up from S$52,000 ...

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".

Pageviews since Dec'09

FOLLOW AK ON FACEBOOK.

Recent Comments

ASSI's Guest bloggers

Raffles Education: Sold at 27.5c resistance.

Wednesday, January 5, 2011

On Monday, 3 Jan 2011, I mentioned "Raffles Education is rebounding in earnest. The MACD broke out of its downtrend and is rising while the MFI and RSI show positive momentum. OBV shows accumulation. Immediate resistance at 26c.  This is followed by 26.5 which is where we find the declining 50dMA. The most formidable resistance is probably provided by the 100dMA which is at 27.5c. The last time price tested the 100dMA was on 21 Sep 2010. For anyone looking to reduce exposure, selling at resistance in a downtrend is conventional wisdom."


Today, Raffles Education broke out of its downtrend which coincides with the declining 50dMA at 26.5c. This was on the back of higher volume. Closing at 27.5c is at resistance provided by the declining 100dMA. An intra day high of 28c was achieved, however, and if volume continues to expand with an upward push in price, the next significant resistance level is at 30c, which is where we find the declining 200dMA.

Could I have been too hasty in selling off my money losing position initiated a couple of months ago? I do not know but I recognise that, downtrend notwithstanding, the 100dMA has been the limit of any rebound the counter has staged for the last 12 months. Could it be different this time? Of course, it could be but this being purely a trade, I chose to follow conventional wisdom.

0 comments:

Monthly Popular Posts

 
 
Bloggy Award