Resistance: $5.08, $5.30
Support: Lower blue trendline, $4.86
Comment: There is a good chance for it to break above $5.08 to create a double bottom formation. Today, it closed above the 20dMA, together with the lower blue trendline to form its immediate support. The immediate upside target is $5.30 (the double bottom formation target).
Resistance: Neckline (black), 200dMA
Support: $1.30, $1.20
Comment: There is a high chance that it will break below $1.30 due to the Head-Shoulder formation. The downside target for this Head-Shoulder formation is near $1.10.
During February 2012, I have sold the following stocks:
- Hyflux- some at $1.475 (bought at an average price of $1.3075).
- Hyflux - some at $1.505 (bought at an average price of $1.3075).
- TigerAir - some at $0.765 (bought at an average price of $0.6867).
- TigerAir- some at $0.79 (bought at an average price of $0.6867).
- Hyflux - some at $1.54 (bought at an average price of $1.3075).
- TigerAir - some at $0.80 (bought at an average price of $0.71).
- Noble - all at $1.355 (bought at $1.095 and $1.39).
- AIMS - at $0.99.
- TigerAir - at $0.71.
- Sabana REIT - at $0.91.
- Midas - at $0.405.
- CMA - at $1.56.
- Noble - at 1.39.
- Hyflux - at $1.475.
- Hyflux - at $1.4175
After my recent profit taking, I am about 58% invested. So, I am holding about 42% cash. What is my plan now?
If the market continues to go up, I will continue to take profit in batches. However, I will keep some for mid term. At the same time, I will also buy some shares that provide good dividend yield.
If the market starts its correction, I will exercise my cash to purchase some shares at their support levels.
Resistance: $1.50, 200dMA
Support: $1.39, $1.35
Comment: Nice breakout above $1.39 with good volume - more upside to test $1.50. If it plunges below $1.39 - move down to test $1.35.