Raffles Education 270309

What a week for Raffles Education! After my analysis on 20 mar, it went on to test the 0.430 resistance (red ...) and 0.440 resistance (red --) on 21 mar. Just 1 day later, it went from almost breaking the 0.440 resistance, to a free-fall, breaking the 0.415 support (blue ...).

The next few days even saw Raffles Education breaking the 0.395 support (blue --) with volume. The last 3 days saw Raffles Education hitting a base of 0.385, and just about keeping its head above the uptrend support (low blue), forming a Doji today.

One possible scenario is for Raffles Education to trade between the 0.380 support (green ...) and the 0.395 resistance (blue --), provided it doesn't break the 0.380 support.

However, if the 0.380 support breaks, we could be looking at Raffles Education heading towards the 0.370 support (lightblue --), and eventually, the 0.360 support (lightblue ...).

Any upside would most likely be restricted to the 0.400 resistance (green --).


For monday :

Support @ 0.385 (low blue), 0.380 (green ...), 0.3735 (low red), 0.370 (lightblue --), 0.360 (lightblue ...)
Resistance @ 0.395 (mid red, blue --), 0.400 (green --), 0.405, 0.415 (blue ...), 0.420 (mid blue), 0.430 (upp red, red ...)