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Saturday, January 8, 2011

Boston Scientific ( US NYSE Stock )

STI is a relatively small market with limited liquidity. It is more prone to manipulation by syndicates and it does not always heed technical signals. Even if you are correct technically, the market is subject to other external factors such as the overnight performance of Dow. Many people to whom I know have switched to trade the US market. The feats they have displayed are compelling! I will try to look at US stocks in 2011. That said, I will not completely give up on STI...

Boston Scientific ( BSX ) US$ 7.28

A Flag cum Swing Trade setup found waiting for trigger ! The trigger is 1~2 bids above previous day's high. Immediate target is US$ 7.98. Time frame 1~2 weeks. Stop loss when 40 SMA and the uptrend line is penetrated.

NOTE : There is a setup but no trigger yet. Best is to watch for subsequent moves to spot for reversal candle.