AXIATA

I posted this AXIATA trade in www.investlah.com forum on 4 Feb 10. The link is shown below
http://www.investlah.com/forum/index.php/topic,6560.0.html
At that time AXIATA was setting up nicely for a swing trade. This was the trade set-up.

Weekly chart

Weekly chart (close-up)

Daily chart

Weekly Chart: Weekly MACD was rising after crossing above its signal line on w/e 22 Jan 10.

Daily Chart: Price has pullback to the 20-day SMA line on 27 Jan 10 as well as the 61.8% Fibonacci support. MACD turned up on 2 Feb 10.

Entry: I bought AXIATA at RM3.36 on 3 Feb 10. The stop-loss is at RM3.16 (6% below my entry price and below the 27 Jan 10 swing low). The target is at RM4.45 (Sep 08 peak).

Exit: I sold half my AXIATA shares at RM3.90 on 10 Mar 10 to secure some profit. I did this for two reasons - (1) AXIATA has increased 16% above my entry price. (2) The 9 Mar 10 close was below the previous day's low.

AXIATA consolidated for more than a month after that and now beginning to show sign of moving up again.

I still have half of my AXIATA shares to ride on the current potential upswing.

Disclaimer:

Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and information presented in this blog.