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FSL Trust: Closing the gap soon?

Tuesday, December 21, 2010

On 17 Dec, I mentioned that "The MACD is about to cross into positive territory. OBV suggests continuing accumulation. MFI and RSI are both rising, suggesting strengthening demand and buying momentum."


The resistance provided by the 50dMA at 45c was taken out today as price closed at 45.5c. With the MACD rising into positive territory, we could indeed see the gap closed at 46c next. Eventual target remains at 47c.

Related post:
FSL Trust: Testing 45c resistance.

Healthway Medical: Closed the gap at 15.5c.

Monday, December 20, 2010

On 13 Dec, I divested my trading position in Healthway Medical at 17c, saying that "I expected 17c to be a strong resistance as it is where we find the merged 100d and 200d MAs as well as the downtrend resistance line.  So, a trading position entered on 22 Nov last month at 15.5c was divested at 17c today." and on 14 Dec, I mentioned that "Price could first retreat to 16c, a many times tested resistance and now possible support, before closing the gap at 15.5c."


Healthway Medical closed the gap today at 15.5c. Am I expecting more downside? Share price is pulling back from almost overbought conditions and I do not expect any huge downward movement. Notice that the decline in share price has been on the back of reducing volume. This is good news for the bulls. Also notice that the uptrend in the MFI and RSI are still intact. However, the charts suggest the possibility of both indices to retest their supports. This could mean a reduction in price or volume or both in the near future. A successful retest of supports could lead to another upward movement in price.

Immediate support at 15.5c.  This is followed by 15c and 14.5c.

Related post:
Healthway Medical: Still at resistance.


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