Healthway Medical

Healthway Medical astounds market watchers today by climbing higher, closing at 17.5c, forming a white candle with a wickless top in the process. This candle is reminiscent of the candle formed two sessions ago. Volume is very high as investors seemingly could not get enough of the stock. MFI shows strong buying momentum and moved higher up into overbought territory. OBV shows sharp and continuing accumulation. In extremely bullish scenarios, a stock could stay overbought for a long time. Closing above 17c resistance today is a bullish signal. We need to wait for confirmation the next session to see if the price will move higher to test the next resistance level which I\'ve identified as 19.5c previously. However, I prefer to err on the side of caution and I\'ve divested another 15% of my position at 16.5c and 17c today. Chart: singaporeanstocksinvestor.blogspot.com/2...limbing-upwards.html

Hi newbie123, The eventual target price of 19.5c is based on chart pattern. Most of the time, chart patterns are accurate windows into probable future price movements, resistance and support levels. FA says that Healthway is worth a lot more than 19.5c but TA, as a measure of the mass psychology of market participants, tells us where the stops are in the meantime. Luck plays a part too.

Hi AK71, what is your view on Healthway since it reached TP of 19.5c. Can you update us on this counter? Thanks a lot!!! AK71 wrote:

Hi newbie123, The eventual target price of 19.5c is based on chart pattern. Most of the time, chart patterns are accurate windows into probable future price movements, resistance and support levels. FA says that Healthway is worth a lot more than 19.5c but TA, as a measure of the mass psychology of market participants, tells us where the stops are in the meantime. Luck plays a part too.

RZeng, if u have bought Healthway, continue to hold. Wait for its full FY09 result out first. Don\'t think price will shoot up much again... until full result released. Need resting. Its FY09 result shld be quite good since revenue and profit for first 9 mths of 2009 already exceeded FY2008. Then, wait for them to invite u to AGM. Ask them more qns abt their China expansion. If u think they can succeed with their china expansion, then continue to hold this baby because the returns will be far more than you imagine. If you think the other way round, then sell and take profit if you think it\'s risky... Their China expansion is critical... My humble view RZENG wrote:

Hi AK71, what is your view on Healthway since it reached TP of 19.5c. Can you update us on this counter? Thanks a lot!!! AK71 wrote:

Hi newbie123, The eventual target price of 19.5c is based on chart pattern. Most of the time, chart patterns are accurate windows into probable future price movements, resistance and support levels. FA says that Healthway is worth a lot more than 19.5c but TA, as a measure of the mass psychology of market participants, tells us where the stops are in the meantime. Luck plays a part too.