ABOUT

I am a remisier with a local Singapore stock broking house. This blog was set up as a personal endeavour for all stock investors to share their knowledge on stock investment, be it on Fundamental Analysis (FA) or Technical Analysis (TA). The combination of this knowledge would be FATA (发达）, which means to prosper in Mandarin.
It is my sincere wish that members will benefit from this sharing of knowledge and prosper. For many of us, we need to make our money work harder for us so that we can have sufficient for retirement. But at the same time, be careful about your investment. As Warren Buffet said: "Do not lose your capital".
DISCLAIMER: It is important to state here that this information sharing and discussion is purely for that purpose - sharing and discussion. This blog was started in good faith by the administrator, but all investors should take personal responsibility for their stock investment decision. Neither the administrator of this blog nor any of the contributors to this sharing/forum will be responsible for any loss that you may suffer as a result of your investment. You are advised to do your own research before making any investment decision. It is also important to state that inevitably, there will be stocks where the administrator and/or blog members would have an open position (or interest) in. This is inevitable as surely we would "put our money where our mouth is". In no way does it mean that we are soliciting your support to "pump up" the stocks as it is totally your choice whether to trade that particular stock or not.

Thursday, 30 April 2015

Oil ETF UCO

Oil ETF UCO as at 29 April 2015
From the middle of March 2015 (when I alerted my clients to buy UCO) till now, UCO had moved up about 55%. It is now meeting resistance at about USD9.50. Looking at the chart formation, it would look like it has formed an ascending triangle, with the price being pushed into the corner of the triangular apex soon. With an ascending triangle, the probability of the price breaking upwards is very high. So, it would not be a surprise if UCO breaks out of the USD9.50 resistance after the Labour Day holiday (1st May). If the price consistently stays above USD9.50, then the resistance would have become a support line, and it would be a buying signal for the next advance to the next resistance of USD25.00.
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