Healthway Medical: Decline continues

On 13 Jan, I said, "Even though the continuing sideways movement in price is taking place on the back of reducing volume, without any significant buying up activity, price is likely to lower in time." Healthway Medical: A grave situation?

Today, Healthway Medical closed at 17.5c on relatively low volume. For people who are waiting to accumulate Healthway Medical shares and would like to hedge, one bid above the support provided by the 61.8% Fibo line seems like a fair proposition. I like accumulating shares at support levels on the way down. 61.8% Fibo support at 16.5c looks attainable as the declining OBV tells me that distribution is underway.

Saizen REIT: Accumulate at supports

Saizen REIT retreated from 18c to close at the resistance turned support level of 17c today. An overnight buy queue at 17c which I put in as a hedge was done. I like accumulating shares when they are consolidating or coming off their highs to hit supports. With a high of 18c achieved in the last session, I have drawn the new support levels using Fibo lines. If the support at 17c gives way, next supports are to be found at 16c (61.8%) and 15.5c (50%). Of course, I will be accumulating at those levels as well.

Upside targets remain at 19c and 21c. Eventual target is at 24c.