Raffles Education: Start to Get Bullish?

Raffles Education breaks out from a Falling Wedge today with a spike in trading volume. Could this be a start of the bull run for RafflesEdu? I think not yet. To be safe on a good entry, need to watch out for the following:

  • RafflesEdu immediately face a 200D MA resistance after the breakout. Need to see whether the bull has enough steam to pierce through this 200D MA resistance with healthy volume.
  • If this 200D MA resistance is broken, we need to watch whether the pull back of the stock price can stay above this 200D MA, ie. make the resistance becomes support.
  • Also take note that the 200D MA long term trend is still sloping down.
  • Need to watch the 20D, 50D and 200D MA crossover to confirm the downtrend has stopped and reverse to the up trend.

This Post Has 6 Comments

  1. Desy

    Bro looks like good entry will be 0.35?

  2. Marubozu

    Not advisable to chase. Raffles Education probably will be trading in a Flag or Pennant patterns. Wait for the pull back first.

  3. Desy

    Bro what is your view of this counter? Years back peak at a dollar +, any chance of crawling back to that level in near future?

  4. Marubozu

    I am not sure whether you want to invest or trade in this counter. I assume you are investing because you are looking at the previouos price of $1.00+.

    Base on the fundamental, I don’t think Raffles Education will back to $1.00+ in the near future unless they have drastic improvement in thier earnings. This does not seems to happen within the next one year. See my previous post here https://mystocksinvesting.com/singapore-stocks/rafflesedu/raffles-education-is-it-really-bottoming-up/

    If you are trading RafflesEdu, $0.30 could be a good entry point if the stock price rebounds from this 200D MA support. You can trade between the support $0.30 and resistance of $0.35.

    You may want to wait for the next earning result before you decide what you want to do next.


  5. Desy

    Tks your valuable insight as always.. Appreciate your time bro.. 🙂

  6. Marubozu

    Desy, I hope you did not get it at $0.35.

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