BSL_Long on low volume dry upBIC on Wkly + Daily
Exceptional low volume on 7 Oct 21
Entry: $1.47
SL: $1.36
TP1: $1.66
BSL trade ideas
BSL.SGX_Range Breakout Trade_longENTRY: 1.47
SL: 1.38
TP: 1.62
- ADX>20
- RSI>50,RSI<30
- Daily RS +ve
- Daily FFI +ve
- Daily MACD +ve
- Weekly RS +ve
- Weekly FFI +ve
- Weekly MACD +ve
- Retraced to 38.2-50% fib level since breakout in Jul 2021 with lower volume.
- Breakout of range and HVN on 30 Sep 2021 and moving with higher volume since then.
- Today shows possible selling dry out with extremely low volume.
Raffles Medical (SGX counter)Updated View On Raffles Medical (25 Jan 2021)
This counter popped up in our scanner for the potential BEARish trade.
I expect 0.895 region shall be next.
DYODD, all the best and read the disclaimer too.
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Raffles forming Ascending Triangle and FlagRaffles (BSL) could break out soon
Disclaimer: This is not an advice to buy or sell!!
Raffles Medical (BSL) Expected to enter into Mark Up phaseI had some time this evening, thus, decided to conduct the Wyckoff Accumulation zone (Buying Tests) analysis on the stock. We expect the stock to mark up from here with target price at S$1.29. Stock's price action has passed 7 out of the 9 Wyckoff Method test as follows.
Buying Tests (Passed)
1. Downside price objective accomplished
2. Preliminary support, selling climax, secondary test established
3. Activity bullish (volume increases on rallies and decreases on reactions) Observed
4. Downward stride broken (that is, supply line penetrated)
5. higher supports observed
6. Higher tops observed
8. Base formed with horizontal price line broken
Buying Tests (Failed)
7. Stock not stronger than the market
9. Estimated upside profit potential is less than three times the possible loss
