As per discussed in the previous post, SP Setia has broken out the “flag” and continue to rally till RM3.30 on Friday. Exactly as we targeted! Ok, now it is the time that we plan out how to mitigate the risk and ride on the profit. Last bar was a ultra high volume up bar closing in the middle. This is a sign of weakness. So a retracement back to RM3.20 is very likely in near term so that it could regain momentum for further up move. Depends on your risk profile, you could put your STOP at RM3.20 and let’s see whether SP Setia could be another Trade Channel pattern!

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