Ok, Unisteel is officially delisted from SGX.
But, I would like to recap the trade and also use Ichimoku to do some hindsight study.
1. This counter first alerted me some time around 30 May. See the first blue 'up-arrow'.
- prior to this, it was selling down for 3 days.
- but May 30 shows a possible reversal with above average volume
2. June 2. (second blue-arrow)
- Gap up and buying volume increases
3. June 3 (third blue arrow)
- Price and volume continue to go up
- Price also break resistant at 1.65
- a very good confirmation
4. Offer price was 1.95 (if I recall correctly)
- so, buying with confirmation at $1.67 (give 2 bids to confirm...be kia-see a bit)
- the return would have been around 16% +
Now, for a bit of hindsight theory.
Using ichimoku, we would have seen that the lines exited the kumo around 15 April. Price goes from 1.4 to 1.6 within one day.
That is a much easier trend to identify. Very strong breakout from kumo. Above average volume. Very good price range. And the ichimoku indicators state so as well (lines cross, kumo exit, chikou span and volume).