Following up from yesterday’s post Mermaid took a dive this morning and to a low of 0.187. Once again we like to remind everyone that we like it slow and steady. =) So it’s a bonus that it went down abit more today. For now, mermaid is being supported by the 10 days exponential moving average which has been guiding mermaid. If it closes behind that in the next few days we could see mermaid hitting our target of 0.183. We can shift our trailing stop to 0.19 now.

There was an increased in volume today and it hit our middle trendline and recovered slightly. So let’s watch and see how it performs the next few days.

Yours

Humbly

Kelwin&Roy

Mermaid Maritime had a nice run up to 0.205 recently but seems resisted by the trendlines we drew. It hit that upper trendline and started to retrace. We’re using the 10 days exponential moving average for this case, anyone wants to make a guess why?? Anyone wants to know why??

For now we feel that mermaid might need a rest. It is probably ranging from here to about 0.205.

It’s horizontal support is at 0.193 and if that breaks we might see it move to 0.19 then 0.183. If we’re shorting we would use Poems CFD and not do a naked short. Our stop loss will be 0.210 Do also take note of the risk in shorting a penny stock from our post sometime back. Do take a look ya.

Yours

Humbly

Kelwin&Roy