TRADE - Wing Tai 13 Jan 2014

Among all the property stocks, Wing Tai is the one I am most interested in for shorting.
Reasons are:

• The 50-200 MA has finally crossed for this stock.
• It has broken the red trendline support. 
• It is still some distance away from the significant support at $1.60 region. 

Compared to its many counterparts, WingTai looks strong. Its 50-200 MA has been holding till the recent cross-over in Nov 2013. That's the main reason why I want to short this stock. It has room to drop! In fact, Wing Tai has broken its support at $1.89 today.

Thus, this is my first trade for year 2014 and my first trade in this blog. I am not expecting a fast drop as it is not the characteristics of Wing Tai. More likely will be a slow drop. 

Fingers crossed, with so many horses in the property sector, I hope I picked the right one.