Fundamental Trader, thanks for unselfishly sharing your method. I have not come across anyone in i3 using current ratio. It is a very useful ratio to use indeed.

As expected with such a bullish trend, Dnex came under heavy profit taking. As we are all aware, rarely do stocks trends up in a straight line. To me, its uptrend is intact but is in consolidation mode at the moment which is healthy.

i3lurker, you are absolutely spot on.


Posted by i3lurker > Jun 29, 2021 5:23 PM

in future once you see Dr Leno says fraud, => Technicals dun apply anymore => Short it down

r88, many newbies can be trading based on your readings and can get caught with your readings. So, if you are not competent to give a proper technical reading, please do not do so. You can be misleading a lot of newbies. Its basic knowledge that we do not call a candle in formation.

For those trying to trade its technicals, the so called hammer in its formation is meaningless. Please be cautious with technicals as they don't mean much to a stock that has a huge audit cloud hanging over it that goes to the very core of its fundamentals.

Hoot9Yee, its good to look back to evaluate where you went wrong. Once done, put aside the mistake and the regret and rationally think what is your next step. Do you want to continue holding or do you want to perserve your capital as much as possible. Remove the emotion.

Hoot9Yee, the immediate resistance is at 0.85 with strong resistance at 0.89. Immediate support is at 0.80. You will have to make your own decision on your trade.

Hoot9Yee, its best to avoid stocks that has a cloud hanging over its financials that puts a big question mark on the fundamentals of the stocks. Any jump in its price will attract sellers, so, its upside is limited. Also, please do your own assessment and not believe hearsay when trading stocks. Cheers.

Dnex has broken out from its flag consolidation, taking out the 0.685 resistance and the 0.70 psychological resistance. It needs to stay above 0.70 to validate the breakout.

Dnex is consolidating in a flag formation. After the breakout of 8/2, it is normal for consolidation to set in. 0.655 is the immediate support level.

Charts are useful when interpreted correctly but wrong interpretations of it can lead to wrong trading decisions. Sorry to say, interpreting a descending triangle on a 15 min chart is one example of wrong chart reading.

First of all, that is not a double top and there is no such thing as a bullish flag. XOX underwent a failed break down on Friday to close at its support of 0.24. If 0.24 is broken down again, the next support level to track is 0.20/0.205. Immediate resistance is at 0.26/0.265. There is some accumulation in the stock with selling pressure still present.

At the moment, this stock is consolidating in an ascending triangle with an immediate support at 0.265 and further support back at 0.24. Strong resistance was encountered at 0.315 but if successful in breaking out with volume, this stock will resume its bullish run. Any breakdown from 0.24 will send the stock back into bear territory.

This stock is not down trending and neither can we nor anyone tell if its the start of a downtrend. Critical support levels are not yet broken. It briefly breached a key support at 0.88 and this support seems to be holding at the moment. There is heavy selling pressures no doubt which can be expected after the stock gapped up with volume spikes. Those trading this stock can do good by adjusting your trailing stops.

Always set your own TP. Never never follow TP of others as risk profile is different.

GBGA Wa is expiring 20/7/2018 with a strike price of 1.30. It is now trading at about a 15 sen premium.

Given the quantum of the loss, it will take some time for the stock to settle. The upside potential of the stock is very limited for the short term, aside from a technical rebound.

silai1908, since you are a newbie, its best you don't trade this stock for the time being. This can be a very volatile and speculative stock.

THanks Duit ....yeah you are right ...must hold and grab ..hahaha...

Duit, ...hahaha.. sorry to have time to reply you only now. Nice name by the way. Thanks for your wish. I will hv to wish you a belated Merry Christmas now and a very Happy New Year this 2017. May you be blessed with endless success in life and in the stock market and a great health to enjoy it all.

Just popped by to say this:

Connie, rchi, skyhawk, twobits, Evel, Stingray, Bonarda and all here, I sincerely wish all a Merry Christmas to those celebrating it and a very Happy New Year to everyone.

Stingray, thanks for those great wise words.

Rchi, great read on HSI. Thanks. Very bearish unless some catalysts springs up from somewhere ...hehehe....

Good nite.

....hahaha.... thanks Inwest83 ...hope you have been raking in money from the market.

Hi Inwest83. Not sure if Inwest88 still pops in here.

Swift, most welcome ...yeah.. you too have a nice weekend. Thanx

swift, Scientx has broken out from its symmetrical triangle which is a continuation of its previous uptrend. The support is now at 6.55 with a resistance at 6.78. As long as the support is not broken, it should resume its attempt to trend up.

The next 2 TPs to monitor on this downtrend are 0.93 and 0.87. Be careful not to be guided by the oversold position in the stock as there is a fundamental change in the stock.

If 0.99 support is broken, it will trend towards 0.93. If 0.99 holds, then another tech rebound could be on the cards. In any case, the stock is still weak and is best to let the dust settle further.

8wpwtmt8, as long as the Zika virus is kept under control and its spread is limited and contained, it should not have an effect on air travel.

I don't think that the Zika virus is the main cause of the selling. AirAsia had an extended bullish run and it had hit a high of 3.30. As with all stocks, it can't go on forever on a bullish run. So, its normal for profit taking and correction to prevail.

AirAsia is currently in a consolidation phase with a strong support at 2.83. If this support is broken down and 2.81 breached, it will go into a correction. AirAsia will most likely continue to consolidate sideways for the time being. If it weakens further from 2.81, it will go into a correction.

that is precisely why we monitor the strong support to see if it will be broken or not.

The support to monitor is 1.43 which is also the strong support.

swift, no prob.

twobits, ..hahaha... yah never thought of that ....i have a son but his name is not Rizal ...hahaha.... phew .... thanks bro. Shall monitor Tchong. Interesting chart. Thank you.

swift, sorry to hear that. DRB attempted its next resistance at 1.16 today. It is bullish and has broken out of its downtrend line. The immediate support is now at 1.10. The volume has been high. As long as it stays above 1.06, any retracement could offer an opportunity to take position but you will need a stop loss upon violation of 1.06. It would be best to re-assess DRB when it retraces as indicators can turn against us in an instant.

swift, you are most welcome. Hope you make good profits on DRB. Remember to set your trailing stop if you are riding on profits.

VenFx, thanks for your kind words.

swift, DRB has a strong resistance at 1.04 which it broke today but settled back below it. It did tested the next resistance at 1.06 which if broken with volume will turn DRB bullish. But at the moment it is unable to break 1.04 successfully.Immediate support is at 1.00. If broken down, the next support is at 0.96. It is under profit taking at the moment which is normal in view of the volume spike yesterday and the red KLCI.

swift, most welcome ..hope you profit from it

Duit ...most welcome.

8wpwtmt8, the overall trend of AWC remains bullish. It broke the 0.845 resistance and sustained above it. It is currently consolidating with a good support at 0.87. The TPs after 0.91 resistance are 0.95/0.99/1.05.

Do not be worried or frightened when trading stocks especially when you have a trading plan. If 0.87 is broken down, the stock will weaken again. So this is the support that you need to monitor. Indications are that it is bullish but of course sometimes shocks to the market can change things quickly around.

Irregardless, remember to set your trailing stops if you are riding on profits. Lock in when you feel you have enough profits or when it hits your TP. Please remember that if you are worried when trading, you may be trading the wrong way.

You can never ever buy at the lowest nor sell at the highest. If after you sold, the price went up further, dont regret but just be thankful you did a good trade and put money into your pocket and be happy with the cash and profits in your pocket ...hehehe... Dont bother if the guy next to you tells you that you should have sold later. Its always easy to look back in hindsight. Then you will trade happier.

Congratz on your good trade with AWC.

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Dear ProfitMan,
On 12.07.2016, there were no bullish signals for AWC. Can you please enlighten me with the TA of AWC now especially with the breakout on 20.07.2016 and its ability to break RM0.90 resistance on 26.07.2016. But what worries me is that it dropped back after breaking RM0.90. Where is it heading to now?
29/07/2016 00:09

Swift, PDZ has broken out from its rectangle trading when it broke 0.10/0.105. The resistance is now at 0.135 with a gap support at 0.105/0.11. It needs to stay above this support to remain bullish. Due to the overhang in the stock, you will see selling pressures on this stock.

Hi Westgun. Yes, everything is fine thank you. Hope you are continuing to make good money from the market.

cityplus, Leesk is in a rectangle trading at the moment ranging between support at 0.28 and resistance at 0.295. Need to break 0.295 with strong resistance at 0.33. Will likely continue ranging between support and resistance.

..hahaha.. no lah Duit .... your assessment is fair and valid. Don't worry ...hahaha....

Just to add to the above, chart reading is a very useful part of our analysis. While the charts of some stocks can be engineered, it cant be done for all stocks. And its almost impossible to engineer a chart over long periods of time.

But given the downside of charts, i.e. the concern of an engineered chart, it is nonetheless a very useful tool as the benefits of chart reading far outweighs the downside. However, its important to know that Chart reading, as in TA, is not the holy grail to trading. They must be analyzed in totality. Even so, we must accept that in spite of all our analysis, even if we complement it with FA analysis, we may still be wrong in our assessment. In this eventuality, we must have an exit strategy which forms part of our trading plan.

Hi Duit, great to hear from you. I have read some of your take on the HSI index ...hehehe...

Nana88, You are most welcome. Very happy you are on a winner in VS. Congratulations. No, I did not buy into it but its good that you have.

VS took out many resistance levels and is currently testing to break the resistance of 1.34. The resistance levels beyond this are 1.38, psychological 1.40 and 1.45/1.46. Good luck. Do remember to set your trailing stop now that you are sitting on profits. Protect your profits always.

Nana88, Melewar is in a correction phase. Immediate resistance = 0.355. Immediate support = 0.32. Will likely continue to trade sideways for the time being.

VS has bottomed out at 1.15. It needs to take out the resistance at 1.20 successfully which it has temporarily done yesterday. It must overcome 1.25/1.26 to confirm its bullishness.

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Nana88 Dear TCB,

Would appreciate if you could advise TA on VS Industry and Melewar. Thank you in advance.
12/07/2016 10:56

cityplus, Chinwel is bearish. If the support of 1.38 is broken down, the next TPs are 1.36 and 1.30. Immediate resistance is at 1.42 with a strong resistance at 1.45. However, it may be due for a technical rebound.

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cityplus Dear TCB,

I would happy that if anyone can help on TA of Chinwel 5007, thanks in advance :)
12/07/2016 10:41

8wpwtmt8, unfortunately TA is not a forecasting tool. However, we can tell that the selling momentum is minimal with some bottom fishing taking place and a good support base forming at 0.78/0.785. Current indications at the moment are that the sideways consolidation may continue. There are no bullish reversal signals at the moment.

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8wpwtmt8 Dear ProfitMan, could you forecast the timing for AWC to breakout from its consolidation phase now (for 30 days already). Thank you in advance.
09/07/2016 21:30

8wpwtmt8,
Vivo is consolidating sideways at the moment. It seems to have found a temporary bottom at 0.28. It looks weak for the midterm and short term. It is oversold at the moment so a technical rebound may come around. Should 0.28 be broken, it should have support at 0.26.

From the chart we cannot tell where is the bottom but you can use the support levels that I mentioned as guides.