Rows of shelves with boxes in modern warehouse

GLP has been the talk of the town lately.

Rumours of a takeover started circling late 2016.

Price ran up, the company denied the news but price still hung around the highs of the move.

Later there was another jump in price triggering our entry.

This was followed by a few weeks of consolidation again.

Then finally last week the news broke that GLP was open for sale.

According to this report on Friday, there are 3 different groups looking to make an offer for GLP.

Might we have a bidding war?

I think it will be good to hold on to this position for some time and see what price the winner offers.

Enjoy the ride!

STI

We’re pushing higher.

Congratz if you have long positions, they should be getting a boost.

Sembcorp Ind

Pushing into some area of resistance.

Follow system.

OCBC

We are pushing into those highs again, STI lending strength.

Follow system.

ThaiBev

Still hovering in this area but arrow has turned blue.

Be ready to follow trade management rules.

Venture

This is testing our patience, candles have turned red again.

Be ready to follow the trade management rules.

Genting

These candles never turned blue, with STI surging to multi-month highs, Genting is still languishing here.

Not inclined to take longs on it at this point, so I will stop tracking it for now.

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Good trading folks!

The post GLP is in for a ride! 3 groups interested to make an offer! appeared first on The Systematic Trader | Trading Courses | Collin Seow.