Global Logistic: Sell down on news, system exited few days back, price 2.64

Following up from previous calls, we have seen the 2.80 resistance held on for more than 2 weeks with it not able to break though.

Has since been in the range of 2.73 to 2.80 for the last 2 weeks before a sell down today on the back of an update of it's strategic review of proposals received.

Hit a low of 2.55 today before some short covering. 2.55 would be a good support level which was where it started its ascent last month.

For illustration purpose only

May consolidate in the range of 2.55 to 2.70 for now before more direction.

From the system (See below), we actually had exit signals few days back – for the earlier bullish entry signals in Jan 2017. Whew.

As longer term trend is still up for now, we may start to see it consolidate before maybe another re-entry signal? PTI grads can check then if it happens  :)

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For illustration purpose only

Global Logistic: A new catalyst for more upside, price 2.74, see what system says :)

Following up from call about 3 weeks back, we have seen Global Logistic touched a high of 2.70 before profit taking happened.

It has been consolidating above the 2.55 support over the past 3 weeks until some actions today.

There are news of it receiving offers for stakes in it by bidders.

News aside, just to share that we had Bullish Signals to the System on 5 Jan 2017, Entry price at 2.46, before all the hoo ha and run up in mid Jan.

The thing is there are NO EXITS yets on these signals, see below. So can the upside really continue, yes, probably so, if 2.70 holds now.

Congrats to PTI gradautes who were guided by the system and still holding. J

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Recent Email:

Sent: Wednesday, January 11, 2017 10:05 AM
Subject: ********** Global Logistic: May attempt a move above 2.60 soon, price 2.54

For illustration purpose only

Global Logistic: More upside above 2.60 now? price 2.61

From yesterday’s note, we have indeed seen Global Logistic approach and even cross the 2.60 resistance today.

We can still expect more strength above from here, raise sl for those who are holding.

Had A BULLISH ENTRY SIGNAL on the system few days back, and there are NO EXITS yet.

PTI grads can check.

Short term uptrend intact above 2.60 now imo, with momentum indicator still looking good especially above 2.60.

Target can be to 2.80 first. J

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Recent Email:

Sent: Wednesday, January 11, 2017 10:05 AM
Subject: ********** Global Logistic: May attempt a move above 2.60 soon, price 2.54

After seeing the huge move above 2.40 last week, we have seen GLP broke above the 2.50 resistance yesterday too. Looks set to test the 2.60 resistance level where we are currently seeing some selling pressure. Raise sl for those still holding or can also consider taking some profit near 2.60. With 2.50 holding, we can still expect more strength in the short term with moving averages looking favorable too.

For illustration purpose only

Global Logistic: Bearish Shooting Star spotted...... then more sell down on call..... now at 1.735...

When to cover back shorts?

Sent: Wednesday, February 24, 2016 9:41 AM
Subject: ************** Global Logistic: Beware of potential reversal lower on close below 1.77.... price 1.76

We has seen some profit taking yesterday on Global Logistic hitting above 1.80, and with it closing lower forming a Bearish shooting star. Any close below the temp 1.76 – 1.77 support can lead to a potential retracement back to 1.70 support level. Given the rise we have seen over the past few days, would be a good time to take some profit along the way too… Only a convincing move above 1.80 will invalidate our short term bearish scenario.

Global Logistic: Resistance at 1.73 cleared as mentioned, more upside towards 1.80 now? price 1.755

Short term positive above 1.72...

Sent: Thursday, 18 February, 2016 12:17 PM
Subject: **************Global Logistic: Heading back towards key resistance where we may see some selling pressure again.... price 1.69

Global Logistic has been supported above the 1.60 psychological level for more than 3 weeks and today we have seen it stage a pretty good rebound back to 1.70 – 1.72 resistance which has resistance of for 3 weeks too. We may start to see some profit taking and selling as it approaches this levels. Mid to longer term trend still weak for now, but we can see some short term upside momentum on a move above 1.73 where we can expect a trade towards 1.80. Some indicators are pointing towards a reversal but more price action confirmation required. Either way, good to take some profit along the way for any long positions as we are going countertrend.

Global Logistic: A few sell calls made since last week...... not good.... 1.60 hit today....

Next to 1.50? Hopefully the 1.60 holds for a while, if not……. Let’s ride more…… J

Sent: Monday, February 01, 2016 10:47 AM
Subject: ************ Global Logistic: Potential move towards 1.60 if the 1.64 fails to hold again... price 1.65

We are still seeing some selling in Global logistic as it crossed above the 1.70 resistance briefly last week but unable to stay above. As long as it trades below 1.70, we can still see more weakness towards the 1.60 then 1.50 as mentioned. Would increase CFD SELL positions on a further breakdown below the 1.60 now with strong volume seen on the move down.

Sent: Thursday, January 28, 2016 11:41 AM
Subject: ************* Global Logistic: Sell down seen to new low with some support at 1.64... price 1.65

Following up from previous breakdown call last week, we have indeed seen the breakdown of the 1.80 psychological support and the 1.70 did not hold too yesterday on a quick sell down which was our next target. The consolidation range has been lowered now from 1.64 to 1.70 and it is still negative with the 1.70 as the immediate resistance now with downtrend intact. CFD SELL can be used to ride the downside more on any temp technical rebound near to 1.70. A potential break below 1.64 – 1.65 can see it trade to 1.60 then 1.50 with all moving averages all pointing lower still. We may start to see some stong short covering as we approach the 1.50 level as that was the key support in Oct 2011 before we saw a strong rally. A move below 1.50 would see a new low and more downside likely too so cautious long position.

Global Logistic: WOW ! Support at 1.70 stands no chance too.... price 1.64

Heading towards 1.50? NEW MULTIYEAR LOWS…… When is a good time to start accumulating, let’s see….

Sent: Wednesday, January 20, 2016 4:29 PM
Subject: ************* Global Logistic: Selling seen towards 1.80 next support... cautious still

From previous SELL CALL, we have seen the 1.90 breakdown indeed and today has headed to a low of 1.815 as of now which is near our target at 1.80. Those who has CFD SELL positions, would be good to cover back some shorts in profit given sell down back down today again. Lower buy stop loss to protect profit. With 1.90 as the resistance now, we are still negative with more selling likely below 1.80 support too with target at 1.70, so cautious long position. Macd in negative zone and pulling away further with more downside momentum likely below 1.85 too

Global Logistic: A NEW LOW Seen on a SELLDOWN again.... 1.90 support did not hold as mentioned !

Price 1.82 now….. more weakness again below 1.80?

Sent: Thursday, January 14, 2016 9:39 AM
Subject: ************** Global Logistic: Some selling seen below temp 1.94 support.... can be weak on a close below... price 1.94

Global Logistic has been supported above the 1.94 level since September last year and today we have seen some throw down below the key support on above average volume. A close below can start to trigger some weakness with longer term trend still weak below 2.00 psychological resistance now. MACD has turned negative on today’s price action. If the 1.90 does not hold either, more selling can continue towards 1.84 then 1.80. Cautious long below 1.94

Global Logistic: A Breakout spotted yesterday MORNING AT 9.08am SHARP.... now at 2.20

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Sent: Tuesday, October 06, 2015 9:08 AM
Subject: ********* Global Logistic: A Breakout spotted above the 2.10 - 2.12 resistance, more upside possible above.... price 2.12

Global Logistic has been consolidating below the 2.10 resistance for more than a month and today we have seen some actions as it breaks above on top 20 volume. This can open the way to more upside towards the 2.20 then 2.26 level. Quite a firm breakout above the downward sloping 20 day MA line which can signal a short term change to uptrend. Indicators also looking towards a recovery as of now. Stop loss at 2.08.