Click here for last week's post : KIMLUN
A reader, ST(my second client, actually) asked me to look into KimLun last Sunday for him. Chart-wise, it showed a first green histogram, sign of rebound. So, I asked him to grab on Monday for a possible of rebound. He bought in the morning and banked in some 'tokens' for my analysis.
Suddenly KimLun shot up ... wow ... 1.42 to 1.61 in on Monday. I told him resistance at 1.60, previous high at 1.70. So, Monday night I e-mail him to say that if he is not greedy, can take profit at 1.65 and he did.
First of all, I never really look into KimLun prior to this. So, I did not pick this stock for him. Credits to himself tho he thanked me for giving him the analysis base on chart and some opinions.
What we need to see now ... do you think it could shoot HIGHER, break the resistance and going to new high? If you could see, last Thursday, bearish crossover will be seen in overbought region. And as it is at resistance, overbought ... to me is SELL. That is my opinion. I want to see if it could go higher next week!! Breaking resistance is a break-out play, not rebound play, ya.