From previous blog post last month >>> http://singaporetradinginsights.blogspot.sg/2017/03/japfa-breach-of-support-at-080-not-good.html, I shared that we may still see more weakness on the breakdown below 0.800 support. Actually not a good sign.
From the system, I also mentioned that we saw a bearish entry signal, 22 Feb 2017. Entry price at 0.955. (see chart below again)
Fast forward to today, it seems like sellers are not letting go and more selling seen towards the 0.600 next support level. Can that level hold too?
So far we have been seeing selling on any slight technical rebound, downtrend firmly intact below 0.64 now.
System wise? Not good....
I really hope no one is still holding on blindly...
How good if you can have a system where you can just pull out a chart and have a view immediately.
For illustration purpose only
Recent Emails:
Sent: Friday, April 21, 2017 10:50 AM
Subject: ****** Japfa: Break down of 0.700 yesterday can see more selling again... Price 0.65
Subject: ****** Japfa: Break down of 0.700 yesterday can see more selling again... Price 0.65
Sent: Wednesday, March 15, 2017 9:20 AM
Subject: ******* Japfa: Breach of support at 0.80 not a good thing price 0.79
Subject: ******* Japfa: Breach of support at 0.80 not a good thing price 0.79
Sent: Thursday, March 09, 2017 9:47 AM
Subject: ******* Japfa: Sell down can continue further before some short covering, price 0.825
Subject: ******* Japfa: Sell down can continue further before some short covering, price 0.825
For illustration purpose only
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