As they say, “It’s just business.”
Saying Uber and Grab just don’t care might be a bit of a stretch.
But they are just a couple of household names, which are examples of a breed of business called disruptors.
And disruptors don’t care how things are traditionally done, they force the old industry players to adapt to survive.
The markets are also another quickly evolving mechanism, but there is a method to the madness.
To find out how we use systematic means to not only keep up with the market, but actually stay ahead of the curve,
We’re still in the range, not a lot going on now.
Position yourself with some shorts as well in case the market decides to go lower.
Recently there have been some news articles reflecting bearish sentiments about the US markets, basically that at the moment, it’s running higher on fumes more than fundamentals.
You should be out on the trailing stop around the open $0.89 today.
Great trade everyone! Congratulations!
We’re still running higher with new highs being made today even while the STI is stuck in the range.
Price fell off steeply in step with the recent US markets.
The previous post here, called for a partial take profit, so it was a good move, congrats on locking in your profits everyone!
Take note that we are near the trailing stoploss.
Do be patient and follow system, no matter what, we have a winner.
Price cut right through the $1.80 level without pausing, so there was no signal generated.
Because support didn’t come in, so we will no longer be following Sunningdale for a buy signal for the moment.
The 2nd valid signal has been triggered about $2.03, an we are slightly lower than that now, I think it’s safe to enter as long as price holds above $1.95
The counter is making its second leg higher after breaking major resistance area around 1.93-95
Next resistance area would come in around $2.15 and $2.25
The main factor against would probably be a broad market selloff if the STI decides to drop.
Be patient and watch out for the broad market.
KIV for a short signal, this counter has broken long term support around $2.36
Good to have some short exposure, in case the STI decides to drop.
This is more in line with the fundamental shifts in their industry.
Car sharing apps have been eating away at the taxi business internationally with Uber as the main player.
It’s not just the transport companies who are struggling against the Uber tidal wave, the taxi drivers are having a hard time too. But that’s what disruptors do, they force industries to adapt or get taken over.
In Singapore, Grab seems to be trying to bring the taxi industry in on the pie with JustGrab or GrabTaxi, however Comfortdelgro’s business is far more international, beyond the reach of Grab.
So we are waiting for the first valid signal, good chance to load up for the ride.
There is likely some support coming in just above the $2.00 area, which is a good 10% away.
If you’d like to know how to catch the next HUGE winner like Hi-P and TSM,
Good trading folks!