Just last month, we spotted some weakness in Hyflux on the break below the 0.45 support level.
It was then at about 0.44 and indicators were also looking weak too…
Anyway, some targets were drawn where we expected it to trade lower over the coming weeks and months…
CFD short positions could be taken to ride the downside….
Or those with long positions were informed to be cautious too…
See what was sent out then…
For illustration purpose only
Over the past 1 month, we have indeed seen more selling with the 1st target at 0.400 breached and then more selling happening again…
We have also seen our 2nd target at 0.36 hit today…
Looking at the NEW UPDATED CHART as seen below, the downside move have played out quite well indeed…
But downside may not be over yet…
Especially on any specific price action below 0.35 where targets can be revised lower.
Cautious long positions for now, especially below 0.400 where downtrend is firmly intact…
For illustration purpose only
On a separate note, how were we aware of this counter in the first place?
Well, we did had a Bearish signal for Hyflux on 10 Nov 2017 last month…
Before the sell down even began….
Exit signal seen a few weeks back… BUT there may also be another signal, will see….
Want to be alerted on counters like these too?
For illustration purpose only
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