Healthway Medical touched 17c, the initial resistance identified yesterday with the MACD indicating a return of positive momentum. However, that the price closed unchanged despite increased trading volume indicates that many holders are making use of the upmove to lighten their positions. A rising MFI shows increasing buying momentum and this is some way from being overbought, suggesting that there might be more upside. 17c is still the resistance to watch. 17.5c is the XR eventual target, the equivalent of the CR eventual taget of 19.5c.
Golden Agriculture closed at 53c, supported by the 20dMA. This pullback is on the back of lower volume, suggesting that the decline is due to weaker holders being shaken out and not due to any drastic distribution activity. However, with the MACD forming a bearish crossover with the signal line and the Stochastics continuing its decline, we might see the 100dMA being called upon to act as support yet. I would accumulate then.
Saizen REIT formed a rare white candle today as price closed at 16.5c with a relatively surprising large buy up in the last trade of the day. The rising 20dMA and 50dMA have merged to form support at 16c, suggesting that this is probably a very strong floor for the counter. MFI has formed a higher low, marking sustained positive buying momentum. MACD marks a return to positive momentum and the Stochastics has turned up as well. Is this the beginning of something more interesting for believers of Saizen REIT or is it another red herring? Time will tell but my investment in Saizen REIT is informed by my FA and I am holding with conviction.
Initial resistance is at 17c, a recent candlestick support turned resistance. Ultimate resistance for the week is provided by the descending 100wMA at 19.5c.