Raffles Education 090409

Raffles Education finally managed to close above 0.415 neckline (blue ...) after testing it a few times over the last few days. It even tested the 0.430 resistance (red ...) today.

Most trades (137 trades) were done at 0.425 (8,547 lots - with about 3/4 are buy ups). 2nd most trades (133 trades) done at 0.415 (with about 60% buy ups).

The 0.430 resistance could prove a little difficult to break as both the downtrend resistance (upp red) and uptrend resistance (mid blue) meets there. If Raffles Education manages to stay above the 0.415 support (blue ...), we could see it trade sideways between 0.415 and 0.430 as it attempts to build a base.

If the 0.415 support breaks, we could see Raffles Education re-test the 0.400 support (green --).

If Raffles Education breaks the 0.430 resistance (red ...), we might see it go all the way and test the 0.455 resistance (blue --).


For monday :

Support @ 0.415 (blue ...), 0.410 (lightblue ...), 0.405 (mid red), 0.400 (green --), 0.392 (low blue), 0.380 (low red, green ...)

Resistance @ 0.425 (mid blue), 0.430 (red ...), 0.432 (upp red), 0.440 (upp blue, red --), 0.455 (blue --)

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 ...)

Raffles Education 200309

Raffles Edu just about managed to stay above the 0.400 support (green --) today. However, volume was extremely low (about 1.7k lots), compared to a volume of 37.6m lots done on 10 mar, a day after Raffles Edu broke the 0.400 support.

As you can see from the chart, the 0.400 level is quite an important support for Raffles Edu. If it can hold on to this support, we could see Raffles Edu attempt to build a base and test the 0.430 resistance (red ...).

If Raffles Edu breaks the 0.400 support (green --), we could see it re-visit the 0.380 support (green ...).


For monday :

Support @ 0.405, 0.400 (mid blue, green --), 0.395 (mid red), 0.383 (low red), 0.380 (green ...), 0.370 (low blue, lightblue --)

Resistance @ 0.415 (blue ...), 0.420 (upp red), 0.425 (red ...), 0.435 (upp blue), 0.440 (red --)