Yesterday I introduced a wonder stock to you. Despite a bad day, it showed true to it's pattern! Profitable pattern hor. A pity i am not able to trade it because i am not around whole day. Those who have the whole day to themselves might wanna take a look.
Well well...market melt again. But this time round it's desirable. Why? Because it tested the 200MA and rebounded off. Recalling my post earlier this week, i mentioned that it will hug the 200MA like a lover. It maybe shorts covering but that is everybody's guess. I am now looking at many stocks right at support level with attractive risk/reward. Throughout my experience, there are only 2 wise time to buy a stock, either at/near support or breaking of resistance. Now that many stocks are at support, stocks of value by the sector and growth potential should be good. Well, as long as 200MA is not broken. Now that it is retested, i anticipate firmer actions that will define the much needed base.
We had a gap down last Monday on STI and if heavy volume doesn't show lower low, it shows the bears are out of strength. Even if we talk about FA, global growth still intact, let's just see what unfolds.
