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Saturday, June 15, 2024

Can you Short the Stocks?

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With my limited resources, I am only aware of 2 platforms that can be used for Shorting: CFD & DLC.

Let’s take a look at another stocks that make headlines today. UOB, one of the 3 big banks of Singapore.

Pull out the chart:

During 2009, it created a IvH&S, price starts to move up till 2022 which has reached a “significant” Fib Level.

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On Feb 17, 2022, S$33.33 was traded and so far, that is the high to date. Interestingly, if you are trading this counter, and if you didn’t take profit at S$33.10 (which you should as a FIB trader), you should got out your position on candlestick signal at this level.

A shooting star was formed on Feb 17, 2022. Can you also spot a new chart pattern was formed to confirm price has reached exhaustion level? Get ready to take profit and go into short position.

Yes, you are right. A H&S Chart Pattern. For those who has the platform to short, you can definitely take advantage of this.

Extracted this from Societe Generale DLC page. For more information, you might need to check with your broker on how to use this platform.

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