What happened to $YZJ Shipbldg SGD(BS6.SG) today:
- Continuation of the bullish momentum from last Friday with increase volume today (both sessions' vol exceed the 20MAVOL significantly)
- Decisive breaking of the resistance to set a new all time high of 4.66 with a massive solid-bodied candle (vs. the previous wick of 4.62)
Update to my trade:
- Sold 40% of my position last Friday (7 Aug) at 4.10 (Average cost 3.505)
- Sold another 50% today (11 Aug) at 4.50
- Remaining 10% to ride out the trend.
- Decided to lock in most of the profits for the following reasons:
* Already exceeded my original TP2 of 4.25
* Elevated risk of sharp reversal based on historical behaviour of this ticker after a near vertical rise.
What's next?
- Would exit when 5EMA turns downwards and cross the 20EMA
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