After 2 days rally Jaya take a break in today morning, it retrace back to 0.495sgd and is the 3rd candle. A quick overview attached, MACD is in convergence, RSI is indicating a over brought, volume start to slow down. However, the trend shown it is still in uptrend channel and may retrace to test the support line at 0.47sgd./ 2nd support line is at 0.43sgd.
My suggestion is "Hold" or "Sell" if you intend to reduce risk.
Since i'm not having a huge amount of this share so i will hold to see whether after the retracement "Jaya" can rally to hit 0.55sgd or not and if it is not then i will take my money backloh.
Like what i expected yesterday night, HKSE market retrace by -199point in the morning.
Marco view
-Gold price hit over 1001USD again...smell like what happened in 2007
-Oil prices goes up to 71.32usd due to depreciation of USD
-Unemployment in USA is better then expected but still sky high
If oil price hit 100usd again then inflation happen and a double dip in economy will happen?? What say you??
Stay tune
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