Global Logistics Properties (GLP): 12 November 2014, Wednesday, 12.05pm Singapore Time
Attached above is the daily chart of Global Logistics Properties (GLP).
The technical analysis illustrated above is self-explanatory.
The price actions at $2.90 area were a strong enough RED FLAG (refer chart).
$2.61 has broken down with strong intentions.
Refer also to the chart above on the deep marubozu candle towards the RED line as a red flag and the chopped head as double confirmation for bearishness.
Refer also to the chart above on the deep marubozu candle towards the RED line as a red flag and the chopped head as double confirmation for bearishness.
In the intradays, $2.62 will be the resistance used by funds to suppress GLP to launch a new mid-term and new long-term sustained downtrend. The sell offs are far from over.
Donovan Norfolk Ang Technical Rating:
Bearish
(Short/Sell/Unload)
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