Valentine’s day yesterday, so I hope you guys have been making good money to pay for the overly expensive flowers and dinners!
Ladies, no harm spending your profits to get your man a present too. 😉
Hong Leong Asia going parabolic, however the STI may be reacting to an important level here.
So do pay attention.
Reacting off the 3100, it is not broken yet.
Good to take some profits on your long positions.
Wait to see if 3050 will provide any support for the STI
Nearing the end of Feb when the bidders will submit their bids.
You can consider taking some profit near 2.8 and wait for the announcement.
There is a chance bidders may disappoint, so you need to make a choice whether to sit through the announcement or get out before or just reduce risk into the news.
Seems to be reacting off the $3.08, we have some profits in the pocket already, so follow the system and let’s see where the trend takes us.
Their annual report came out yesterday, it was pretty bad.
But some warning was already shared on 13th Feb, by this Bloomberg article, that the banks were expected to increase their provisions for bad debt substantially.
This article was shared on the private Facebook group on the 13th Feb before OCBC’s annual report was released.
So I hope you took out some profits above $9.60 which was a level targeted in previous postings.
Unfortunately, it didn’t reach the next target $9.88, it still might in future, who knows.
If you’re still holding, can consider exiting all or taking some off and follow system for exit.
But no matter what, this is a profitable trade since our entry was around $9.21 and we took some profits along the way.
Slow move, follow system.
Japfa is doing a bit of a retracement, be patient and follow system.
Hong Leong Asia
Just a sneak peak at this gem.
It is up over 43% since our first entry, I believe everyone is fully loaded with positions from the 3 valid signals.
Hong Leong Asia has come very far, certainly can consider as parabolic move, so keep a watch on this position.
We have resistance coming in around $1.40 and $1.49.
Get ready to take some profit at these levels or on the first bearish close candle.
There is no telling how far a parabolic move can go.
Hope you had a great Valentine’s day with your loved ones, good trading folks!