Shares & Derivatives
China Minzhong: Partial divestment at $1.01.
By A Singaporean Stockmarket Investor (ASSI)  •  January 21, 2013
My sell order for China Minzhong at $1.01 was filled today. I retained some 50% of my investment in the company in case resistance should break which would send share price higher. There is always a chance of a retracement in share price to supports. So, locking in some gains at resistance frees up resources for me to take advantage of any such retracement if it should happen. Whether share price should rise or fall, I have a plan in place and could potentially benefit either way. With 99c resistance broken, the declining 100w MA which approximates $1.03 is the immediate resistance to watch. Being a long term MA, the 100w MA is likely to be a tough nut to crack in the shorter term.
If I were to hazard a guess, I would say the 100w MA could force share price lower. In such an instance, share price could decline ......
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By A Singaporean Stockmarket Investor (ASSI)
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