Saturday, August 26, 2017

MADU - Now what?

MADU - is one counter that behaved exactly as I wanted. If you followed my posts on it you would know that my 1st target was 10.50, and the 2nd being 11.50. I was pleased to see that it hit the 1st target and checked in at 11.00 before the present level of 10.40. So what's next to expect from it?
I want to see it's getting consolidated above 9.80. I also expect two things to happen as well.
1. It could breakout 11.00 and test 12, thereby hitting my 2nd target, then fall and trend above 10.00.
2. If the trend extension is to stall then it will test 9.80, and have a support failure making it to make a gap fill and find support above 9.00.
Either way the present strategy is to sell a part of what you have now if you have not sold after buying at 9.00, and hold the balance, while waiting to exit at the 2nd target of 11.50. A failure to see an extension will allow you to increase your holding at the right time. But that right time needs to be watched.


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