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My sell order at $1.365 was filled today. This is the gap filling I talked about before.
Could price move higher in the next session? It could, of course.
However, the upper wick in today's white candle as price touched a high of $1.37 before closing at $1.35 suggests that selling pressure is very much present.
Moving higher on lower volume compared to two sessions ago is also a sign of caution.
The declining 100dMA is likely to exert downward pressure on price action.
So, further upside could be capped at $1.385 or so. In a retracement, expect some support at $1.21.
Related post:
Hyflux: Retest of recent high.
Bloggy Award
4 comments:
Congrats AK.
pocket full full for the CNY :)
too bad i didn't dare to follow your your long position on hyflux.
Hi Ray,
You did the right thing not to follow me. I am paranoid about being followed. ;p
You probably did your own research and decided against going long when I did. That is what matters. :)
Reader:
Is hyflux 6%CPS a worthwhile buy to hold long term for investment? Thanks for your views.
AK:
Weak numbers. I don't have. I wouldn't lend money to Hyflux.
Reader:
Thanks. They should be settling at par in April 2018 and the price seems attractive at 97! Do you think they will default?
AK:
Your guess is as good as mine. 😉
Reader:
A gamble I think.
AK:
As recent as 2015, their debt level was up, they sold their building and they were still losing money.
I used to trade this for some pocket money but as an investment, nah.
Long, long time ago... 😜
Reader:
OK. I will not put in any more. Thanks.
AK:
It depends on how you feel about it. I have friends who bought but very small positions.
Nothing to make them lose sleep over.
A retiree wanted more updates on the divestment of the plant and what that means when the 4.25 per cent bonds that he had invested S$250,000 into mature this September.
“There isn’t a conclusion and everything still hinges on the sale of Tuaspring and at what price. But my investment is due in September and that’s what I’m most concerned about,” he told Channel NewsAsia.
“I’m retired so this was going to be a key part of my income but now, not just the income, I have to be worried about my capital. My kids are going to university soon so I have to figure another way out.”
Source:
https://www.channelnewsasia.com/news/business/hyflux-shareholders-townhall-meet-management-first-time-10545662
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