Following up from Previous BUY call, Silverlake has indeed traded to our target price at 1.10 fast before consolidating briefly. Today we have seen it break the resistance turned support at 1.10 now. As long as it stays above 1.10 now, can still be good to ride to 1.20 or even 1.30. Raise stop loss to 1.07 now and can continue to ride the uptrend. J MACD indicator still trending upwards firmly.
Sent: Monday, May 26, 2014 1:35 PM
Subject: ****************** Silverlake: Bullish Setup...... Firm breakout seen with resistance at 1.00 now......
Subject: ****************** Silverlake: Bullish Setup...... Firm breakout seen with resistance at 1.00 now......
Silverlake has broken up the 0.955 critical resistance level today on above average volume since consolidating below it from Nov last year. Critical resistance would be at 1.00 level now and any uptick above it can see it trade to 1.10 fast. Long term 200 day MA pointing gently upwards and it has been trading above it consistently since 2 year ago, where uptrend is generally intact for the long term. RSI showing some strength with Stochastic reversing upwards on momentum. As long as supported above 0.95 now, we are bullish and can continue to ride the upside and prepare for the break of 1.00. Can try accumulating on dips from 0.96 to 0.98 level as long as stay above 0.95.
Stop loss at 0.94.
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