Wisdom Wise
CBIP at its 4th Golden Cross
The above daily chart of CBIP shows 4 golden crosses. If you examine the chart closely, you can see that the first golden cross appeared on May, 20 (closing price 4.55); 2nd golden cross was on Jun 13 (closing price 4.42); 3rd golden cross was on July 21 (closing price 4.61) & the 4th golden cross was on Sep 9 (closing price 4.82).
Now, assuming that you had bought at the closing price of all these golden crosses, you are still okay, considering that the last traded price was at 4.82.
Please bear in mind that TA (technical analysis) is not a science. So, if you are looking for certainty, you are sure to be disappointed and frustrated time and again.
It's true that many chart users throw away their charts after having been at them for some time, but sooner or later have come back to them for reference. And each time they come back, they have become more efficient and wiser in reading charts.
In the olden days, there were no clocks. People depended on cockerels to herald the arrival of dawn. It is said that when the cockerels crow for the 4th time, then dawn has actually arrived.
Whether you may use this analogy here is left to be seen. I shall give CBIP the benefit of doubt and buy more of it at this golden cross.
Investment is not without risk. You listen to me at your own risk.
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Ride The Bull Short The Bear
CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
