My favorite 2nd liner property stock, on my last post last December 2010, i was already tempted to sell all my short term shares around 1.37 resistance, and luckily, i sold half of it.
And yesterday, sad to say that it broke down its major support of 1.29, which sent it down to as low as 1.18. Also, we confirmed that the short term downtrend (in light blue) lines are very strong that its now in short term downtrend. RSI now at 30.xx, and might get a few bounces before it revisit 1.18 or make a new low.
Fundamentally, this must be the cheapest stock right now in terms of its P/E ratio, I bought more shares at 1.18, and looking to buy more near 1.12-1.14 where medium term support is.
If 1.12-1.14 doesnt hold, i dont want to see FLI going back to its 1.00 point.
MEG meg MEG.. while you were running around 2.80, i really knew you are on a temporary bubble, seeing you drop today makes me relax and make me realize how influential Andrew Tan is in terms of making money from Business and playing Stocks.
MEG is still on a short term downtrend, and making new monthly lows hitting 2.20 a while ago, comparion FLI and MEG, i still see MEG to be prone in larger downfalls.
short term downtrend support is around 2.0-2.10 (blue lines), and possible medium term support is saying (please go visit me) around 1.90, 1.80 and 1.70 respectively (dark blue and pink lines).
Overall, im still slightly bearish and waiting for the hopefully soon-to-be expected correction as posted last:
http://theamazingchart.blogspot.com/2010/12/12-26-2010-xmas-post-and-xmas-rally.html
Good luck!
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