Singapore Wyckoff & Volume Spread Analysis

I posted on UE twice last week, http://www.finanovice.blogspot.sg/2012/11/united-engineer-diary-post.html My view : United Engineer is on its way to break its 3 year high of $2.80. Below is an email on an alert to tell my clients of this potential setup. In my opinion, this stock still warrants a buy. Very bullish signal was seen. A nice close at $2.80. Good evening, Just a follow through my last post on United Engineer. After breaking the $2.60 resistance turned support level, United Engineer continues to move upwards and it is up by 20 cents. $2.80 is at its historical high. This level will prove to be a resistance for UE to move further upwards. However, if broken, UE could broke its 3 year high level at $2.80 Best Regards, Lee Hong Wei ----- Forwarded by Lee Hong Wei on 05/12/2012 04:58 PM ----- ****29/11/2012 05:59 PM  To  cc  Subject  RE : United Engineer Good evening all, Last post of the week, I will be on leave ...

Saw a potential quick potential arbitrage opportunity today on UE. As posted earlier on, UE showed good strength and was trading at $2.68 on Friday. Today's morning, I saw opportunity to buy in the market at $2.56-$2.58. On top of its earlier strength shown on Friday, market was not that bad enough to cause it drop by 10 cents definitely. I feel that this is due to mis pricing from the market. Maybe the Chng Kay is still asleep and is late for work....but anyway, this seldom happens.

Emailed my clients about UE breakout trade on Thursday. Image is chart on Thursday. I did not tell my clients much as most of them are non-TA practioners. Price has now up by 8 cents. How far up will it go? $2.80 and recapture new high? Why not? 100 years special dividend incoming? Perhaps... However, most peole who follow my blog know that I am not a breakout trader, but seeing the strength behind UE... I thought it is reasonable to still have some upside.