ComfortDelGro: Breakout from congestion

 

Line chart shows the breakout from the trading range.

The breakout had heavy volume.

 

Long-term GMMA is moving in a parallel fashion.
Short term GMMA is expanding and separating from the long-term group.
However, the long-term GMMA had compressed slightly, so need to remain alert for a collapse in the uptrend.

Trading plan: buy at $1.70, take profit at $1.77

Outcome:

 

1 Oct: Opened LONG $1.700
12 Nov: Closed at $1.595
Reason for closing: Stop loss triggered
Loss $0.105, 6.2%

ComfortDelGro: Steady up trend with little volatility

Weekly chart shows the breaking of a 9-month-old down trendline follwed by a bullish MA crossover.
This suggests to look for long trade in the daily time-frame.



The price and Lagging Line in the daily chart are above the cloud, indicating bullishness.

GMMA long-term group is running parallel and moving upwards.
GMMA short-term group is separated from the long-term group.
There is not much expansion and compression within the short-term group.
These indicate that ComfortDelGro is in a steady up trend with little volatility.
This is good for someone who does not want volatility, and has the patience to hold and ride the trend until it has been proven to have ended.

Immediate target price is $1.52, next target price is $1.64.


Outcome:

LONG trade was not opened because was not able to buy at desired price.
The target price of $1.52 was achieved on 20 Feb with a dragonfly doji.