ACE market is a secondary market of Bursa Malaysia, comprising listed growth companies. The ACE Index showed sign of reversal of its recent uptrend. On daily chart (see FIG2), yesterday’s black candlestick confirmed the possible retracement which was earlier indicated by “Bearish Engulfing” pattern. Selling pressure is picking up at accelerating velocity as substantiated by reading from all oscillators.
K-One Technology Berhad (K1), which is engaged in research, design and development of electronic end-products and sub-systems for the communication, computer and consumer electronics industries, is listed on ACE Market of Bursa Malaysia. In tandem with the negative view on ACE market, K1’s share prices also show signs of reversal of its recent uptrend, substantiated by “Inverted Hammer” candlestick near the stiff resistance of RM0.555 (see FIG1).
Moreover, reading from all oscillators showed that sellers are more aggressive than the buyers. Thus, share price is expected to retrace towards RM0.49 (30-D SMA), RM0.47 (38.2% FR) and RM0.44 (50% FR). On the other hand, any rebounds will see resistance near RM0.53 (10-d SMA), RM0.565 (Upper-Bollinger band) and RM0.59.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....