I must say thank you to one of the forum-er from Investalks who ask me a good question that led me to further analysis for my first post on PANAMY - PANAMY The Next Record High. The triangle pattern is breakout at 24 May, but not significantly, then retreated slightly after 2 trading day. If observed closely, it has been sideways in past 13 trading days before breakthrough on last Friday. So, I shall try to interpret, perhaps due to the financial report is not yet released and in the middle cause a concern to the market, thus the sideways pattern is appear on PANAMY even though is a quality blue chip. After that, a small breakthrough from PANAMY triangle pattern, my guess is there might be some insider knew in advance, and thus a breakout on last Friday from the horizontal price movement as a confirmation signal. Yes, I am maintain bullish currently, but I will set short term support at 29.4 to prevent a formation of a false signal once broken. Conversely, if not fall below short term support, then this will be a bullish trend.
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....