Wednesday, April 6, 2016

EW - sleeper update 2

So our sleeping East West finally took off. Yesterday's candle closed at 15.98 with a high of 16.30. I hope you accumulated this in the 15.24 area, because psychologically, the downturn wouldn't scare you.

We began our vigil for East West here: East West Sleeper Play
And the first update can be found here: EW sleeper update 1

Immediate support should be at 15.35. RSI 30 shows EW attempting to breach 50 but wasn't successful. Expect the stock to go down abit further possibly to the 15.58 which is the 61.8% fibonacci retracement level. Check the image below. (click to enlarge)


Sell or hold, it is up to you. If it begins to go below 15.58, then sell to lock in your profit. Please note that price during the IPO was in the 20 peso level. Congratulations if you've made it this far!

Caveat and God bless your investments!