Golden Agri
I exited Golden Agri at .38 today. I entered the trade on Feb 16 at .31. Unfortunately, the up trendline was broken the very next day (circled) leaving me at the wrong side of the market. I cut half the positions at .29 immediately. I am glad I am able to profit from the remaining positions today, finally!
The symmetrical triangle I have identified on April 6 end up to be a valid one despite that on April 7 & 8 the prices close back into the triangle. As stated, the minimum target is .38 and the target was met today. This counter is really tricky ! Since the breakout was near vertical, the next thing we can look up for is a pennant or flag in the near future.
The symmetrical triangle I have identified on April 6 end up to be a valid one despite that on April 7 & 8 the prices close back into the triangle. As stated, the minimum target is .38 and the target was met today. This counter is really tricky ! Since the breakout was near vertical, the next thing we can look up for is a pennant or flag in the near future.
STI closed at 1,905.99 today. Very tricky two days indeed, open low close high. I will continue to stay defensive meanwhile awaiting opportunity for the next trade.
Labels: Stock Pick
posted by Market Wizards @ April 15, 2009
Comments: 0
