We got this stock right again!
In the article dated 14th Feb, we mentioned that Utd Envirotech has done well like what we predicted, going from $0.80 plus cents to $1.25.
But we warned that $1.30 is still a resistance. After touching $1.29 recently, it drops for a few days.
http://www.danielloh.com/2014/02/singapore-stock-watch-utdenvirotech.html
Today it stands at $1.23.
It is not easy to make a good judgment to buy a stock! And it is more difficult to predict the point to sell a good stock that is running like crazy!
We have predicted there be a consolidation at $1.30! We are off by 1 cent for this case. It stop at $1.29!
This method that we used consistently to predict the price where stock run halts is what I called "Law of Gravity of Price".
Where we think this stock might be now?
2 scenarios...
1) If it stays in $1.20-$1.30 region for at least 2 weeks without dropping below $1.20, then it has a chance to break $1.30 still
2) If it breaks down $1.20 within 1 month, this stock is heading for $1.10 at least, a good point to pick up the stock would be between $1.05-$1.10!
Let us see if I am right again...;)
Rgds
Daniel
www.danielloh.com
