Chip Eng Seng - Update

Chip Eng Seng failed to break the resistance on 0.895 a few months earlier and resulted in failed rally. Failed rally tends to fail quickly and it quickly dropped to below 0.50 within 2-3 months aided (no thanks) by the overall market collapse. I failed to sell of at 0.87 and resulted in heavy loses. That was during a period when I was too busy with my consulting job and did not monitor the market for a few months.

I finally sold off at 0.59 to cut loss and I bought into ComfortDelgro at 1.595 on average for long term investment and dividend play. ComfortDelgro is trading near its 3-year low of about 1.40. I believe 1.40 will be a very strong support for ComfortDelgro. For long term dividend play, going in at 1.60 is still viable since the dividend is around 3-4% on average.