Olam
Conditions at entry: A general uptrend direction. Support was moving up after a retracement in Oct 09. Volume is good and consistent. Entered after price broke the second peak after the retracement at a price of S$2.72.
Trade exited at S$2.62 after it broke the support.
Trade details:
| Counter: | Olam |
| Trade: | Long |
| Method: | S1 |
| Date of Entry: | 26/11/09 |
| Entry Price: | 2.72 |
| No. of shares traded | 1,000 |
| Exit Price: | 2.61 |
| Exit Time: | 10/12/09 |
| Reason for Exiting the Trade: | Break Trough |
| Profit / Loss: | -S$110 |
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{ 2 comments… read them below or add one }
A resistance is formed at the 2.85 region, created on 20 oct. An alternative strategy would be perhaps to take profit at this region, given current volatile market conditions?
Just sharing a trading idea.
Regards
Ed
Thanks Ed for sharing. Indeed, it was not able to break the resistance at 2.85. However, at this point in time I prefer to follow the rules of the system, which does not suggest to profit take at 2.85.