Nearing our target at 1.30…. question is: Can that hold too?
Sent: Friday, October 30, 2015 9:57 AM
Subject: ********** OSIM Intl: Breaking below key 1.40 - 1.42 support can spark a new wave of downside.... cautious.... CFD SELL, price 1.36
Subject: ********** OSIM Intl: Breaking below key 1.40 - 1.42 support can spark a new wave of downside.... cautious.... CFD SELL, price 1.36
OSIM has been trading above the 1.40 psychological support level since July and has rebounded strongly from it over the past 3 months. However, yesterday, we have seen a breakdown below the 1.40 level clearly and this can open the way to a new phase downwards with target to 1.30 then 1.20 first. Results released 2 days ago were below expectation due to haze and FX losses. There can be more weakness as long as 1.40 remains as the new resistance now. Indicators are starting to turn lower with this price action. CFD SELL positions can be used below 1.40 at least for now, with stop loss at 1.42.
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