Following up from previous blog post about 3 weeks back, it was mentioned that target has been hit, but China Sunsine may also attempt a push above the 1.10 for more upside…. >> http://singaporetradinginsights.blogspot.sg/2018/01/china-sunsine-target-hit-but-may.html
Price then was at about 1.08 and we were expecting the move above 1.10 soon….
It did happen a few days later and then we saw a 2 weeks consolidation from 1.10 to 1.17..
Even though market was weaker and there was a sell down in global markets, it still held on firmly above the 1.10 new support level…
In fact, buy ups were seen on any dips near 1.10… and some pretty good price action spotted too..
Therefore, targets were revised higher where long positions can be taken on dips above 1.10 to ride any rebound and a potential break above 1.17….
See targets there were drawn last week…
Over the past few days, we have indeed seen the 1.17 resistance clear out and even breaking above the 1.20 resistance as well…
And today our revised target at 1.25 has been hit too....
Uptrend still looks intact above 1.20 for now….
Quite a good run despite market weakness over the past week.
Let’s see if 1.30 can be hit soon too though we are seeing some profit taking for now at 1.25...
PTI System also still looking good....
Happy New Year and have a great long weekend with Loved ones... ;)
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