Friday, August 11, 2017

Weakness spotted !! Starhub, Spackman, Raffles Medical, M1, DairyFarm. More selling to come?

Over the past 1 – 2 weeks, we have seen strength in some of the counters that we have covered like Venture, Hi-P, YZJ Shipbldg and Citydev etc which have surged to a new high….

Calls were made to protect profits and also to lock in some gains given the run we have experienced…. 

We are still NOT seeing exits in some of them actually even though there are some profit taking which is normal after the rally… 

PTI grads can check system..

However, the market is not all good and rosy for some other counters.

In fact we have already spotted weakness in these counters whose downtrend has been continuing to play out as per our downside targets drawn over the past few weeks to months…

I hope no one is holding on to these counters blindly…

I mean why not think about riding the WEAKNESS of WEAK counters like some of us already have and may continue to do so?

Make sense?

For strong counters, we ride it up. For weak counters, we ride it down. It’s really that simple.

Anyway, cautious long position if you are still holding as mentioned in note to clients many times…

Not yet a client and want to be alerted OF DANGERS  like these ? >>> CLICK HERE

Let’s see what are the downside targets drawn and what was sent below..

Starhub – Still looks like heading towards our target at 2.50…. Not good when it broke the 2.70 last week already. Price 2.54

For illustration purpose only

M1 – A New recent low today again as it approaches 1.70 target, hope that holds too if not to 1.60 as drawn? Price 1.71

For illustration purpose only

Raffles Medical 1st target hit, what about the next one? Price 1.10

For illustration purpose only

Spackman – Pushing lower towards next target, price 0.105

For illustration purpose only

DairyFarm - Breaching next support... more selling below 7.50 possible. Price 7.48

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