Following up from previous blog post in Oct when Delong was at 3.52 and I mentioned that upside can still continue with bullish signal from the system…
We have indeed seen Delong trading higher after the post in the coming weeks and hitting a high of about 4.00 in Oct..
We have then seen some consolidation and then weakness occurred with the 3.80 level breaking down…
Has been trading lower over the past couple of weeks and seems like selling can still continue especially below 2.60 and 2.50 now…
Some downside targets were drawn last week and low seen at 2.50 today….
See chart below…
For illustration purpose only
From the SYSTEM, we did had an EXIT signal on last month on the bullish run caught on Oct 2017…
Has been pushing higher after covering it in Oct….
Looking at a GAIN OF 136% in 6 weeks before finally the exit came…
And the thing is…
Weakness came thereafter where it traded lower to about 2.59 now….
More selling towards 2.00 as drawn above?
We’ll never know, cautious long below 2.60….
See the system EXIT signal below….
Great to have a system to alert us on when to get out after maximizing our profits……
For illustration purpose only
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