City Developments ($10.83) - Correction phase sets in
Publish date: Mon, 05 May 2014, 02:30 PM
A temporary correction is underway. Quarterly momentum has just turned down, but 21- day RSI has turned down decisively after a minor negative divergence.
Since this counter has superior relative strength compared with the sector and the market, and the uptrend of quarterly momentum remains intact, the corrective phase is likely to be mild. The immediate downside is likely to be at around $10.36, although major support appears at lower levels, at $9.90. Resistance has been established at $11.10.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....