Wing Tai - The one that got away

My earlier entry on Wing Tai mentioned that I came out of this counter on stop loss. I have set 1.67 as my stop loss and by the time I came out, it was 1.64. It was not my hessitation that cause the gap between my stop loss level and the price I actually released the stock. I was only away from my monitor for 20 minutes while Wing Tai plunged towards 1.64. Anyway, it was still a good move then because Wing Tai actually went to 1.59 after that. By then, the indicators were all at the bottom poising up, giving signal of "buy". Unfortunately it councide with STI poising for a reversal downward. I was bearish since then and real hessitated to re-enter the market. Well, partially it was also the structure of triangle creating the possibility of Wing Tai being at "B" wave. Naturally, the assumption would be wave C down.


Fig 1 Wing Tai Daily chart

Since then Wing Tai went no where except up. IT broke through the upper envelop of the triangle and in fact working towards its objective of 1.90. IT actually broke through 1.70 last Friday but I hessitated to act due to the potential hazzardous STI at the moment. I did not pursue. I guess this is one that got away....