Friday, January 8, 2016

SingPost: a breakdown then sell down below 1.60..... then a rebound as predicted.... price 1.53

Let’s see how far it can rebound too….but wait… is it still negative?

Sent: Thursday, January 07, 2016 9:44 AM
Subject: ********** SingPost: Back to 1.50 key support, may find some support from but NOT out of the woods.... price 1.515
From yesterday’s call, we have experienced a quick sell down as mentioned with volume strong yesterday and today. It has headed to a low at 1.505 yesterday, near to the next 1.50 support before a technical rebound today. This 1.50 level may hold for now as it tries to find its ground again consolidating above 1.50 with resistance probably from the 1.54 – 1.56 range. Those who have shorted yesterday can also consider covering back positions and taking profit near the 1.50 support. For those that would like to catch a quick rebound can consider nimbly with a plan to stop loss below 1.50 strictly. Note that a further breakdown below the CRITICAL 1.50 can again see a new low to 1.44 then 1.40. Alerts set. J

Sent: Wednesday, January 06, 2016 9:14 AM
Subject: *********** SingPost: Potential clear breakdown below 1.60, price 1.59
Following up from previous call, we have indeed Singpost consolidate awhile above the 1.60 to a resistance at 1.66 and today we have a key move below the 1.60 support level. Trend still looks weak in the mid to long term with all moving averages pointing lower. Note that any closing below 1.60 support can see more downside towards the 1.50 level. Cautious long on this, CFD SELL to ride the downside further while lowering stop loss. MACD negative and can head lower with a closing below 1.60.

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