Osim: A breakdown after SELL CALL issued last week at 1.605

Have neared our target at 1.40 yesterday and a slight rebound seen today. Time for a reversal ? 

Sent: Monday, 6 July, 2015 9:18 AM
Subject: ************ Osim: potential breakdown below 1.60, cautious long, price 1.605

From previous accumulate call, we have indeed seen Osim rebounded back to target at 1.80 before dipping back down again on a weaker market. Today we have seen it trade below the critical 1.60 support level which is a sign of weakness as this level has been holding since November last year. 100 and 200 day moving averages are still pointing lower with a Bearish Descending triangle spotted. Closing or staying below 1.60 in the next few days can see it trade lower to 1.50 then 1.40. CFD SELL can be used with BUY STOP loss wider above 1.62.