Singpost formed a bullish head and shoulders and also gapped up on a strong volume today. A strong gap at the low end of the chart is usually a sign that the trend has turned up. While it is possible that Singpost could pull back to fill the gap at 1.01 in the near future, the odds have greatly increased for higher prices in the coming weeks.
I am bullish with a stop at 0.99 (a couple of ticks beow the gap) and will trail my profit and scale out between 1.14 to 1.20.
Hope for the best!
I am bullish with a stop at 0.99 (a couple of ticks beow the gap) and will trail my profit and scale out between 1.14 to 1.20.
Hope for the best!