After hitting a high about 3 weeks ago at 0.35, Singmedical has seen some profit taking and it has traded back to the 0.300 psychological support level.
With this level holding, there can still be a rebound back to 0.35 to attempt a further breakout.
However, note that any sell down below 0.300 can see a potential reversal back to 0.26 then 0.20 even and an end to the short term uptrend.
If you are still holding on to any long positions would be good to protect profits by having a strict stop loss below 0.300.
By the way, we had a 1ET Bullish Exit on my system last week finally…
After the first buy entry signal on 27 July 2016. See below for the exit signal.
Just be cautious below 0.300 if you still have taken profit yet ;)
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