Shares & Derivatives
Bought Hyflux and AIMS AMP Capital Industrial REIT.
By A Singaporean Stockmarket Investor (ASSI)  •  December 2, 2011
My overnight buy order for Hyflux at $1.20 was filled. Looking at the daily chart, it is immediately clear why I put in a buy order at that level. It is support. Even with a confirmation of a reversal signal, we want to buy as close to support as possible. Of course, luck plays a part because in very bullish circumstances, price could have gapped up and gone higher.
A white hammer was formed again today as price moved marginally higher on the back of lower volume. It was a weak white candle day. Bulls seemed to be rather cautious as the weekend is always a wild card. If nothing untoward happens this weekend, price could resume its upward climb. Immediate resistance is at $1.28 in such an instance. It would be interesting to see if price could rise as high as $1.39 which is where the declining ......
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By A Singaporean Stockmarket Investor (ASSI)
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