China Aviation Oil – Broke Out!
China Aviation Oil broke out today just after we blogged on it on Tuesday News was out on Wednesday after market hours that it will be included in the MSCI Singapore Small Cap Index effective on 31st May after market hours. More can be read here
We would shift our stop loss to around 1.66 now so that in the worse case we would still be breaking even. Being alert to take profit along the way is also important in case market turn.
Remember preserving capital in this market is key.
China Aviation Oil hit a high of 1.695 and of course we’re hoping that it can hit our first target of 1.72 which will put us in some nice profit. More volume came in today so hopefully that could lift this stock up in the coming days.
Yours
Humbly
Kelwin&Roy
