Thursday, January 5, 2017

Mermaid Maritime: Pushing higher above 0.180 on momentum, price 0.181, Another entry signal?

Following up from previous call last year, we have seen Mermaid consolidated briefly below the 0.160 level before breaking higher.

Uptrend still intact as mentioned with more room to go towards 0.190 then 0.200 now.

Has crossed above the 0.160 – 0.164 key resistances over the past few days and inching higher.

Today, we have seen the 0.180 level giving way too with buyers still pushing, a short term positive above.

Those still holding long please raise SL to protect profits and continue to ride. MACD has also staged a crossover in positive territory.

From my system, we actually had an ENTRY SIGNAL ON 10 NOV 2016, ENTRY PRICE 0.125, and there was an EXIT.

Another entry and then a boom again... PTI Graduates congrats on riding.

For illustration purpose only


Recent Email:

Sent: Wednesday, November 30, 2016 9:53 AM
Subject: ******* Mermaid Maritime: Next resistance at 0.150 is key for now, price 0.147
We started to see some actions in Mermaid yesterday with a move above 0.140. Today, it has tried to attempt a breakout above 0.150 but so far not able too. Moving averages are starting to converge and in the process of reversing with a positive crossover in the cards. Any firm move above 0.150 can see the upside continue with target to 0.160 then 0.170 first. It has managed to maintain above the 200 day MA after breaking above it last month for the first time since more than 2 years ago which can indicator that longer term trend is starting to reverse upwards. Should see some support from 0.144 – 0.145 now

For illustration purpose only

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