Olam (long) – closed on 10 Dec 09

by Alvin on December 11, 2009

Olam
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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Trading Log:Olam Review – Wait till i sold of at a profit then congratulate me
December 11, 2009 at 7:49 pm

{ 2 comments… read them below or add one }

Edwin Cheng December 13, 2009 at 9:26 pm

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

Alvin December 13, 2009 at 9:48 pm

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.

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