KLSE Technical Analysis
FIAMMA: Ready to test $2.50 and heading to $2.80/ $3.60 and possible to$4.90.
Executive Summary
Weekly chart formed flat pole(1) and follow by two week correction, It's bottom was found at $2.10 on recent correction which is supported by strong evident of hammer candle (2) formed on last week. I am anticipated correction should end as we can see the correction chart pattern(one hour) double Zig Zag and correction down channel was break out away from the down trend line(3), on top of that daily chart showed morning star(4) formation as well, it is a indication of reversal sign.
I am anticipate it will break immediate resistance at $2.30 and heading to test $2.50. It is high possibility prices will reach $2.80 and $3.60 in med term after (5)wave 3 is confirm which is price go beyond $2.50.
My Trade Plan.
I will scale in once prices break $2.30 and apply trailing stop along the way to my short term target of $2.50 and med term target of $2.80/$3.60 and long term of $4.90. If any weakness toward $2.10 is offer opportunity for me to collect, I will stop loss below $1.95.
Technical Justification
(1) Flag Pole Formed in weekly chart
(2) Hammer Candle in Weekly Chart
(3)Double Ziz Zag in H1 chart and breakaway from the channel
(4) Morning star was formed in daily chart and it is very strong indication on bottom found with reversal up
(5) wave 3 is most strongest and longest in Elliott wave theory
If you have any question: pls email me at klseta88@gmail.com
Trading Challenge
Many people committed to buy stock is very easy, when come to profit taking and cut loss is one of the most difficult part in trading world, talking about profit taking is dealing with greed and stop loss is dealing with fear, cutting loss is a must in trading world because it stopping my capital continue to loss, in order to stay alive in trading world... it is a must !!! it is not an option, else I suggest you get out of the trading and you are not suitable.
I wanted to used simple example to share on the cut loss ... you bought an egg and prepare to used it for fry rice, some how you notice/suspect the eggs you pick was/may turn bad.... the question now is shall out throw/scrap the bad one and pick another .... or nevermind bet or hope the suspicious "bad" egg will be good and risk the good rice which is ready to cook ? you make the call... I am believed in order to win I got to know how to prevent I am loss in the market... if I notice I am wrong... I got to admit and cut the loss and make a next move.
As a reminder for myself
I am always remind myself If the trend is go again me and violated my SL limit, I will cut loss base on the risk preference.
Stop Loss is painful process because I making loss, but it is necessary to take it, it is very important because it protect my capital to ensure I am stay in the market.
DISCLAIMER:
Stock analysis and comments presented on klseelwavetrading.blogspot.com are solely for education purpose only. They do not represent the opinions of klseelwavetrading.blogspot.com on whether to buy, sell or hold shares of a particular stock.
Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.
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Discussions
1 person likes this. Showing 6 of 6 comments
wah, this is very brave
I salute the author for daring to use such a title during this time
these few days market very bad, all forum members very bad mood, I kena whacked left right centre LOL
but as a blogger, I support mwong3 !
2016-01-26 21:06
JHM survival frkm $0.435; heading toward $0.450 nxt ; R1@ $0.49 ; R2@$0.510 . By time qtr results announced somewhere End/Feb/16 gap up to $0.60 . Huat ah...
2016-01-26 21:18
QR as at 30/9/2015 - RM24.838 million was probably a one-off profit
The Group recorded a lower revenue of RM333.488 million for the current financial year compared to RM338.161 million achieved in the preceding financial year. This is mainly due to lower contribution from the property development segment. The Group recorded a higher profit before taxation (“PBT”) of RM75.415 million for the current financial year compared to RM63.182 million achieved in the preceding financial year. The PBT of RM75.415 million comprise RM50.577 million arising from operations and RM24.838 million from increase in fair value of investment properties.
2016-01-27 07:00
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Apollo Ang
talk is easy,if you buy a bit is easy to cut loss. what if you buy 100,000 shares and no buyers? usually when market down there are no buyers. bursa is very illiquid.
2016-01-26 21:02