Journey to Wealth
Trading Stocks
AirAsia may decline after forming a black candle below the RM3.00 resistance level yesterday. A position can be exited as long as the stock stays below RM2.90 and supports are anticipated at RM2.80 and RM2.68. The stock will continue trading higher, however, if it closes above RM3.00 and strong resistance is at RM3.20.
NCB may rise if it breaks above the RM4.45 resistance level. A purchase can be made if it happens, with a close below RM4.38 as a stop-loss. The price target is RM4.90, with selling also expected at RM4.60. The stock will likely trade sideways if it fails to get above RM4.45, and further supports can be seen at RM4.30 and RM4.10.
SunREIT should climb higher if it breaks above the RM1.60 resistance leve. A purchase can be made if it closes above RM1.60, with a close below RM1.53 as a stop-loss. The price targets are RM1.70 and RM1.80. Failure to get above RM1.60 will likely see the stock trend sideways, with strong support seen at RM1.40.
Redtone's rally should continue if it stays above the RM0.40 level. A purchase can be made if it closes above RM0.42, with a close below RM0.395 as a stop-loss. The price targets are RM0.450 and the psychological RM0.50. The stock may trade sideways if it fails to stay above RM0.40, with strong support at RM0.38.
MKLand may decline if it crosses below the 200-day MAV line. A position can be liquidated on a close below RM0.33 and supports are anticipated at RM0.30 and RM0.275. Failure to break below RM0.33 could see a return in buying support but strong resistance is expected at RM0.35.
BPuri's downtrend should continue after breaking below the RM0.80 support level. A trader may opt to liquidate below RM0.80 and supports are anticipated at RM0.725 and RM0.69. A close back above RM0.80 could see a return in buying support but expect strong resistance at RM0.87.
Takaso may correct after it formed weak candles below the RM0.40 resistance level. Liquidation can be undertaken as long as the stock stays below the level and supports are expected at RM0.33 and RM0.30. Buying will make a quick return if RM0.40 is violated and resistance are anticipated at RM0.45 and RM0.50.
BAHvest may rise after closing at its highest in more than 52 weeks. A purchase can be made if it stays above RM0.75, with a close below RM0.70 as a stop-loss. The price target is the psychological RM1.00, with selling also expected at RM0.87. Failure to stay above RM0.75 should see the stock move sideways and selling will likely intensify on a close below RM0.70.
Source: OSK
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CS Tan
4.9 / 5.0
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....
Melvin G
Red tone <3
2013-01-11 10:31