Shares & Derivatives
ComfortDelGro Analysis (2)
By ccloh Strategic Investor Zone  •  September 17, 2018
The Elliott Wave pattern for ComfortDelGro correction is one of those that could go either way from different perspective.  Hence, it is worth archiving it for future reference.     It is obvious the correction is unfolding into an ascending triangle correction.  However, the questionable part is the first drop from the peak.  The first drop looks develop into a 5-wave impulse (i-ii-iii-iv-v) highlighted in red in the chart.  Normally, if the wave A of the correction is a 5-wave impulse, it should be quite clear the correction will develop into a zigzag and the triangle being the wave B.  However, as the correction develops, the triangle turns into an ascending triangle.  According to Elliott Wave, ascending triangle is linked to breakout to the upside.  Should the triangle be wave B for the zigzag, it will either be a descending or a similar triangle.  ......
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By ccloh Strategic Investor Zone
Am a typical retail investor who started investing in stock market in 1993, the same length of period as SingTel was listed in SGX and ironically SingTel was my first vested stock. Back then was a passive investor and started to turn more active in stock market in 2006. A year later when I switched my engineering job to a finance related one, I became what commonly known as trader ( trade for living ) and at the same time also strongly believe in fundamental/value investing that is the way to growth wealth. In a way I classify myself as a "Strategic Investor". As a trader, I track market movement daily and as an value investor, I am always on the lookout for cheap bargain to hold for long term.
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