CM Pacific

Good day all,

Today, I have a chart of CM Pacific, C22.SI. CM Pacific – China Merchants Holdings (Pacific) Limited – is a toll road company.

CM Pacific has been forming a mature, unconfirmed inverted head and shoulders pattern. This pattern is huge, spanning more than a few years. The neckline is significant in the larger scope of things as this level – 75 cents region – has acted as very strong resistance. I will be in bull mode once an upward breakout is seen. I am favouring the upward because of a simple, strong uptrend coming from the head of the inverted head and shoulders. With small-caps, however, I have learnt that it is very important to have discipline in entry points. So, while no breakout is seen, I will only continue to monitor this counter.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

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