On 19Feb, I did put up a post on Momentum Play for Coastal, well this MP play has failed and the stop at 2.32 has been broken on 28/3 (2.28). As on 24/Mar, she did another breakdown & close at 2.16. Things getting interesting for Value Invest as she has fallen for about 20% from the recent peak of 2.70. So, is time to accumulate for those are very into Fundamental Play. Buy some around 2.10, if fall further to 2.0, accumulate some more but always remember to maintain cash to share ratio at below 30% since the general market is quite weak.
What about the TA landscape, hmmmmm....she has a strong support around 2.10 (200MA) and another horizontal support at 2.05. Well, if the 1st support didnt do her job, then things would not be so optimistic.
Since I'm into hybrid play, I would monitor closely around these 2 level of support to check on any rebound for a re-enter.
Lets see how see performs in the next few weeks.
bro it fell below 2.0 should we avoid it or wait for it to drop more to collect?
ReplyDeleteHi Bennu,
ReplyDeleteAs I mentioned, I'm a hybrid player, I'm expecting Coastal to stabilize around 2.05~2.10 but she didn't, I'm still waiting for her to stabilize & rebound before re-entering. If you have entered based on FA play, then is better to wait for this fierce drop to cool down first before making any more collection.