A temp rebound? Were you notified to be careful on the downside?
Sent: Tuesday, October 28, 2014 11:10 AM
Subject: ******************* Nam Cheong: Back to below 0.400 support again, price 0.39...... May head lower to test 0.36
Subject: ******************* Nam Cheong: Back to below 0.400 support again, price 0.39...... May head lower to test 0.36
After the slight rebound as per out previous call, Nam Cheong did rebound to a high of 0.43 but has again traded lower below 0.400 psychological support on market weakness and with the rest of oil and gas counters. May head back to 0.36 support level so CFD sell can be used to ride the FEW CENTs downside too. Those looking to accumulate on dips again can do so near 0.35-0.36 level as long as the support holds with stop loss at 0.34. Stochastic and RSI indicator looks like revering back downwards again on current price action.
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