Swiber did an impressive leap today along with many other second tier plays like Mermaid, Ezra, Ezion, Indoagri etc. Big caps were left alone while near panic buying occurred in the second tier plays. Swiber had a symmetrical triangle of sorts which broke out giving it a TP of around 1.20. I took some profit off the table today and decided to pick up the remaining lots for this play.
Indoagri also looked pretty and it was quite surprising seeing the rotational play onto mid caps. Indoagri has an eventual price target of around 2.70, but depending how it moves tomorrow I may close the position due to the multiple overhead resistances above.
Ezra and Ezion, both brother and sister companies. Nice move as well today. Ezra with a fibo of around 2.40 while Ezion has one at around 0.86.
I am eying gold right now, with a breakout of 1100, there’s quite a fair bit of upside from a TA point of view. From an FA point, as what AK71 would say, ‘I have no doubt’.
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Like what I wrote in one of my articles:
“Gold will hit US$2.5k eventually and, probably, go higher in the years to come. The current inflation adjusted value of gold compared to the high achieved in 1980 should be about US$2.4k now. We are about halfway there. If we believe that inflation is going to be a big issue in the coming years, it’s a no brainer that gold is on a long term uptrend.”
Congratulations on all your winning positions!!!
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