Thursday, September 12, 2013

Bought Yangzijiang (BS6.SI) at 1.02

Looking at the Dow Jones, it looks like traders are starting to buy on the dip in an uptrend.


 Looking at the STI, it is bouncing up from a downtrend channel. With the above 2 charts, I decided to try to find some opportunities to trade the market.
I found Yangzijiang. This chart is a 2-year chart and I saw that I could draw a trendline all the way from March 2012 to September 2013. And I saw that price is breaking out from the down trendline. Volume also seems to be picking up.

So I picked up Yangzijiang at 1.02. Stop loss at 0.91. First target at 1.14 valid for 3 days. And from now, no trailing stops while the first target is valid.

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