Tuesday, August 1, 2017

Raffles Medical: Target breached, but downside still possible, cautious, price 1.24

Just last month, we saw a breakdown of the 1.35 support level and a note was sent out.

It was then at about 1.34 and we were waiting for more confirmation for the downside..  it came eventually.

See below where we were in the chart which was sent out with downside targets drawn.

For illustration purpose only

Targets already breached but downside may not be over....

Over the past 3 weeks, we have seen Raffles Medical consolidated from 1.26 to 1.30 without much actions but today...

Some heavy selling spotted again with a breakdown of the 1.26 and 1.25 support as of now.

As long as it stays below 1.26 now, we can expect more weakness in the short term as mentioned, with targets to 1.20 then 1.10. Cautious long.

Downtrend intact firmly below 1.30 . See where we are at now below...

Did we get BEARISH SIGNALS ON the system all this while?  Shhh....

Want to be notified of dangers like this earlier too? 

For illustration purpose only

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