Shares & Derivatives
Sound Global: Long position at 50c
By A Singaporean Stockmarket Investor (ASSI)  •  March 20, 2013
Sound Global's share price is currently at an important support level. This approximates 49.5c. I am once again a shareholder of the company with a long position at 50c. I bought some shares towards the end of the day when I saw how the support seemed to be holding up.
Make no mistake, Sound Global's stock is in a downtrend but share prices go down a river of hope and hardly in a straight line. Although no one can say that the stock has bottomed, it could be that it has found a floor. I see a higher low in the CMF even as share price dipped lower. We see a positive divergence. The MFI does not spot a higher low but it has just dipped into oversold territory. We could be seeing some buying activity as the stock becomes oversold with volume increasing today.
A short white candle with a lower wick formed ......
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By A Singaporean Stockmarket Investor (ASSI)
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