Candlestick & Breakout Patterns

JCY Flag Breakout - Playing Catch Up With NOTION & DUFU?

Ming Jong Tey
Publish date: Mon, 13 Mar 2017, 06:04 PM
Understand the psychology behind the candlestick & breakout pattern will give you an edge to realize why the market does what it does and anticipate opportunities before they happen!

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JCY (5161): Bullish

Pattern: Broke Out From The Bullish Flag

JCY broke out from the bullish flag today as shown in the daily chart below:

JCY Daily Bullish Flag Breakout

JCY has broken out from the long-term downtrend line (as marked in green) in Jan 2017. After the significant run from 0.50 to 0.65, it started to consolidate and form a bullish flag.

Today, JCY just broke out from the flag and is heading to 0.80. This immediate target price (TP) of JCY also coincides with the overhead resistance as marked in red and the weekly downtrend line (refer to the weekly chart below).

JCY Weekly Chart

If JCY can break out from the weekly downtrend line, it will be heading to 1.20 as the second TP.

The pace for NOTION & DUFU is a lot faster than JCY. Let's see if JCY will catch up with them in this up wave.

The sentiment in the BURSA market is certainly RED HOT, with daily volume fluctuates between 2.x-3.x billion. Having said that, a stop loss is essential for all trades to protect your downside.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

 

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Cheers,

Ming Jong

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Discussions
2 people like this. Showing 4 of 4 comments

稻田·* 粒粒芳香

Thanks for sharing. Learn pretty much from your analysis. Enjoy reading it

2017-03-13 18:44

Ming Jong Tey

@稻田·* 粒粒芳香 You are welcomed, Duit Goh. Look forward to checking out your post too :)

2017-03-13 21:12

traderman

could be the dividend play which x on 15th march

2017-03-13 21:24

Ming Jong Tey

@traderman thanks for the heads up. 2% yield for this round based on the current price 0.665. Not too shabby.

Single tier tax exempt first interim dividend of 1.25 sen per ordinary share


Entitlement Type: First Interim Dividend
Entitlement Date and Time: 17/03/2017 05:00 PM
Year Ending/Period Ending/Ended Date: 30/09/2017
EX Date: 15/03/2017
To SCANS Date:
Payment Date: 07/04/2017

2017-03-14 10:54

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