Following up from previous call last month, we have indeed seen a firm breakdown below the key 1.00 support level yesterday after hovering above since August.
We may still see some short term weakness below 1.00 now with some support at 0.94 – 0.95 for now as per chart drawn last month.
As mentioned, we have seen 2 Bearish candles with a double top over the past 4 months which can lead to potential downwards reversal, especially below 1.00 which is what we are seeing now.
Are you prepared for the weakness like some of us have ?
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Just to share that we have a BEARISH 1ET signal in Oct 2016 for this counter...before all this sell down....
PTI graduates can check if any exit so far ;p
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Recent Email:
Sent: Wednesday, November 9, 2016 10:38 AM
Subject: ********** Sheng Siong: Seeing some weakness to next key support, price 1.015.
Subject: ********** Sheng Siong: Seeing some weakness to next key support, price 1.015.
Short term trend seems weak below 1.04 now but we may start to find a base hopefully at 1.00 now. If not, more weakness can continue to 0.96 then 0.92. 2 bearish candles spotted at the 2 highest points which may not be a good thing.
For illustration purpose only
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