Wednesday, June 28, 2017

Sunningdale Tech: Sell down over past 3 weeks, exit came actually. Now what? Price 1.705

We have seen Sunningdale Tech hit a high of 2.20 before some serious profit taking occured as the the technology sector got hit by a sell down in a US tech stock.

As a result, it has been dipping lower over the past 3 weeks, breaking the support at 1.95 and 1.90 before more selling continue.

Yesterday, my inner circle were alerted to a further breakdown below 1.80 when it was at 1.79 where some targets were drawn (See below).

For illustration purpose only

More weakness indeed and it is currently at 1.705 where are seeing some support at the psychological 1.70.

Note that any breakdown below 1.70 on a specific price action can still more selling, so cautious long.

More importantly, I mentioned previously that there were some bullish signals in May 2017 last month which was the reason why we rode the upside in the first place....


The bullish exit signal did came out on 8 June.   

A few days before the heavy selling began. Thank god..

Have a glance at the BULLISH entry and exit signal below and see what I mean.

For illustration purpose only

I am glad PTI grads have gotten out after seeing the EXIT signal and avoided the carnage, with profits locked in still.

Cautious long for now, especially below 1.70.

It is always good to have a system I guess, it keep things simpler and less emotional.... ;)

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