Wednesday, July 21, 2010

Yanlord, Hyflux, Cosco Corp

As spoken earlier, Yanlord broke the downtrend channel, it continues to move higher hence now I draw another small uptrend channel to see the support and resistance. Green arrow signal came today, telling us to add position ($1.94) if tommorow hit above today's high $1.93. Short term resistance will be around $2.10

Hyflux: As we can see the stock is forming lower low and lower high one after another, it is a sign of downtrending. Yesterday it breaks the resistance at $3.10, today confirms the downtrend breakout by writing off to $3.05. This would be a good counter to short if you are having bearish feeling about the market, plenty of room to move lower . Stop loss at $3.19.

Today Cosco corp also triggered buy on swing trade strategy, as CCI pullback from its oversold (-100) position. Possible to trade higher for the next 2-3days.