Wyckoff_Trader
Short

China Sunsine: Mark Down Expected

SGX:CH8   None
SGX:CH8
Supporting Observations:
1) Multiple Distribution Signals
- Uptrend Stride Broken
- Uptrust observed
- Test observed
2) HA Colour Change (Momentum)

Risk:
Stock is losing RS but overall is still stronger than STI
Trade closed: target reached

Comments

Hi Brandon thanks for sharing and I started studying the charts after your sharing. I have noticed that it has broken out from the lower trendline, which confirms the likely change in trend. However, I wonder how you would use estimate how much the stock would mark down by. If you use fibonacci numbers, do you use the price range of 1.43 to 1.64 as your 100%? Hope my question is clear. :-). Thank you for your insightful sharing.
Reply
@kiantong, welcome, very glad to know my sharing helps in your market studies. On Fibo retracement. yes, you are right, I'm using the same range to project. At 1.43, its 100% level.
Reply
kiantong Wyckoff_Trader
@Wyckoff_Trader, thank you very much.
Reply
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