Sheng Siong: to sell off as consolidation
Boustead: break out happening
please do your due diligence
Thought of the week
in the prior weeks, i painfully exited 2 positions which each yielded loss of 20 to 30% loss each. i could see these positions were heading down and i did not take the profits in. trading indeed does need quite a bit of discipline to not be the sucker that feeds the big bosses. this week was kind to my trade position, and I entered some positions which are turning positive.
Elaboration
Sheng Siong experience a phenomena breakout that pushed its price from the 80s to the $1 point. this counter definitely can go higher, but right now seems like a pull back. i foresee consolidation happening as the MACD is turning down in positive area. but i will keep it till it price touches the SMA10, then let it go to lock in the 1k profits. will keep a look out.
Boustead after 4 false breakdowns and 4 False breakouts, i don't know if this will be the Bull Breakout i have been looking waiting for. The most recent fake breakout following by a false breakdown can be attributed by XD date and the strong support for this counter to be supported at 80c. i would say keep looking at this counter the following week, because it seems abut time for the counter to drive up soon with this run up after the XD.
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