There was a kind of double bottom on weekly spaced over time. Second swing high after RSI bottomed out. Took a long position with stop as shown. Trailing stop loss will be used to manage.
手動結束交易
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Index is correcting want to stand aside
交易進行
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This is still a good entry for me. Price breached the high of previous day and ready for next swing. This is a paper trade, index is falling so very apprehensive. The downside is price did not close above the previous day high.
手動結束交易
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Have closed this paper trade. Here is the updated analysis -
Monthly is very bearish. Chart does not have sufficient imprints to plot monthly trends. Short term weekly downtrend has got breached. Daily was up and has now breached the up trend. So it is better to stand aside.
@dktimes , thanks. It might be a good pick but I do not know much about this company. May be after a good fundamental analysis it will be worthwhile to spend time on this one. Do you know anything about this company?
@mindzap, actually nomura singapore has taken a position in this stock.
mindzap
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@dktimes, Good to hear that, did check business-standard.com for bulk deals and found they bought in Nov/2017 for 130. The quantity is small compared to their normal positions. Did try to get more information on the company but nothing interesting. Overall financials are a bit grim. Anyway, will keep a close watch going forward.