Thursday, November 15, 2012

Wing Tai Panic selling

3 days ago we were having a small group discussion with our student, we came across this Wing Tai Chart(above) which tell us a exit signal on Monday. Yesterday, the price drop below Monday's low which trigger our exit. In mid term view, this stock is going for a holiday(correction).
Today opens at $1.66 in the morning, had a panic sell down to $1.55. As long as the price is below the 50ma, it remain out of trend(up) hence one may need to wait for it to break above 1.70 in near term to continue be bullish on this counter.
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