UNISEM

I posted this UNISEM swing trade in www.investlah.com on 2 Apr 10. The link is shown below
http://www.investlah.com/forum/index.php/topic,7509.0.html
This was the trade set-up.

Monthly chart

Weekly chart

Daily chart

Weekly chart: Weekly MACD is rising and above its signal line

Daily chart: Price has retraced 38.2% of upswing from 19 to 26 Mar 10 after the breakout of the cup with the handle pattern. MACD turned up on 1 Apr 10.

Entry: I bought UNISEM at RM2.82 on 2 Apr 10.

Exit: I sold half my UNISEM shares at RM3.34 on 22 Apr 10 to secure some profit. I did this for 2 reasons - (1) UNISEM has increased by 16% from my entry price (2) UNISEM has reached the 78.6% retracement target of monthly downswing from Jan 04 to Mar 09.

UNISEM went up for 2 days after I sold before declining but has since continued to move up. I still have half my UNISEM shares to ride this potential upswing. The stop-loss level is now closing below 27 Apr 10 swing low at RM3.19. The target is at RM3.61-4.13.

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.