Shares & Derivatives
Marco Polo Marine: The longer term picture.
By A Singaporean Stockmarket Investor (ASSI)  •  February 9, 2013
I have blogged about how the daily chart of Marco Polo Marine spots many negative divergences and how anyone who should go long at present would have to do so in a measured manner. This means not throwing in everything including the kitchen sink. How big could a correction be if it should happen? Looking at the weekly chart, we see that share price could pull back to support at 36.5c which is where a golden cross has just formed as the 20wMA made a bullish crossover with the 100wMA.
42c to 36.5c? Wah! That is a 5.5c decline or a 13% fall. If that scares us, we should stay away. After all, it could happen. Look at the volume on the weekly chart and we will see how it has been declining as share price tried to push higher. Then, why am I not selling? I ......
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By A Singaporean Stockmarket Investor (ASSI)
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