Healthway Medical: A floor at 15c?

On 20 Oct, I mentioned that "A gravestone doji formed today as price closed at 15.5c.  As the MFI is in very oversold condition, price could experience a brief rebound and it might be a good chance for stale bulls to lighten their long positions, if any. Strong resistance could be expected at 17c.  This is where we find the 200dMA and it is also where the falling 20d and 50d MAs would be approximating soon."

Two identical dojis formed one after another. One today and one in the previous session. Both closed at 15.5c. Both with a low of 15c. It would seem that Healthway Medical's share price has found a floor at 15c. The volume today was much lower than that of the previous session. This coupled with how dojis suggest indecision indicates a reduction in selling pressure which could help lay the foundation for a rebound or reversal. Indecision in a downtrend is good news for bulls.

The MFI is deep in oversold territory. The RSI is also in oversold territory. The OBV has gone flat, suggesting a respite from distribution activities. Could this be a false calm? Personally, I do not think that the downtrend has played out its full potential.  The lower highs on the MFI and RSI suggest negative demand and momentum and the price action of the counter is obviously caught in a down channel but it is now possibly at channel support. 

Therefore, a rebound to 17c remains probable and it still looks like it would be a good chance for stale bulls to lighten their positions in such an instance.

Related post:
Healthway Medical: Business diversification.

AIMS AMP Capital Industrial REIT: Accumulation price?

Today, after market closed, there was a big sell down of more than 3 million units at 22c.  A reader asked if I managed to get more at 22c today. No, I didn't. I am waiting at 21.5c.

On 12 Oct, I mentioned that "It is quite obvious that the range is still 20c to 23c with the midpoint of 21.5c being an important, many times tested support. 21.5c is also where the rising 50dMA would be approximating soon.  This should lend strength to the support. So? I would buy more at 21.5c if I feel inclined to add to my position in this REIT."

22c has been a strong support thus far but with the MACD declining below the signal line and the MFI yet to retest its uptrending support, there could be further weakness.  The lower high on the MFI suggests weaker demand and the lower high on the RSI suggests weaker buying momentum.

21.5c is also where the rising 50dMA is approximating and it is also where we find the lower Bollinger band. A reason why I am not in a hurry to accumulate is because I already have a sizeable investment in this REIT. I don't need to accumulate at 22c. I can wait. The technicals suggest that waiting might not be a bad idea too.

Related post:
AIMS AMP Capital Industrial REIT: Buying more?