Am here only for the breakout. So far E&o has done one breakout above 1.65 earlier to 1.82 however the real breakout I am here is 1.83-1.86 breakout. I doubt there are any investors here only traders.
From the chart though I mention 1.60 earlier as cut lost, the chart is showing a possible up trend however hanging precariously at 1.64. The 1.64 should be the lowest of the uptrend fluctuation (+-1) if drop below 1.63 would be the cut loss at this point. After which if proceed above 1.64 will test 1.83 again. It may test 1.83 another time and b4 proceeding to 2 (again -+ 1)
At this point, we are looking to proceed on uptrend channel which is above 1.64. The RSI is moving towards mid point 50% in the shift of pendulum with lesser volume which is what I am looking for. The 4-5 days of selling reflected in RSI is needed to clear/flush out the panic seller and those who hv no confidence at this point especially for E&O where their management do not inspire investor.
This was what I got from Bloomberg site....dated Sep 30 2015 stating Eric Chan and listing of UK PLC to be completed by 1st Q 2016
Eastern & Oriental Gets Shareholders Approval for listing of UK Unit Sep 30 15 At the Annual General Meeting and Extraordinary General Meeting, shareholders of Eastern & Oriental Berhad (KLSE:E&O) approved the listing of unit Eastern & Oriental Property (UK) Ltd. on the Alternative Investment Market of the London Stock Exchange. E&O Deputy Managing Director Eric Chan said the listing is expected to be completed by the first quarter of next year and pave the way for its expansion into the UK property market.
Today the pendulum of RSI swing past the 50% mark as expected to continue the uptrend. The swing ended at RSI 66% slightly higher than expected but volume small so it ok. The uptrend should be intact as the oversold RSI last week went thru large volume.. Tomorrow expecting the uptrend and passing 1.70 next 2 days to test 1.82 again. if pass 1.82 it will test 2 hopefully in single try however likely to take 2 tries.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jkcool888
30 posts
Posted by jkcool888 > 2016-03-24 11:01 | Report Abuse
Really tew this counter. I everyday wait patient and patient and the price keep dropping