lady77 - YFG:

Sideway trading in a rectangle with the upper rectangle line at 0.13 as the resistance and the lower line at 0.105 as support. Any increase in price will face selling pressure due to the overhang on the stock. We usually avoid trading such stock.

Connie - you don't need to shout coz when you whisper, I can still hear you.....hahaha...... Thanks for the smrt alert. About time it wakes up for us.

R177 - Just to inform that we have done an Update Analysis on Tekseng and posted it in the Stock in Focus blog in view of the many request for it. Kindly refer to it at http://tcb-sifs.blogspot.com/.

As for Fitters, sunlight just did the reading yesterday which you can refer to. We are very happy you profited from Tekseng and hope you will do likewise for Fitters.

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Posted by RI77 > Sep 20, 2014 08:27 AM

Dear TCB,
Can you update your Stock In Focus for:
a) TEKSENG
b) FITTER
I have made money in TEKSENG when you first published in your Blog. I re enter again seeing another Flag is forming based on my limited TA knowledge.
Fitter I have bought in at $1.35 earlier and still holding.
Your guidance is much appreciated.
God Bless.

tsy88 - you have asked a very relevant and good question. Firstly, we just recap back Matrixcool's often quoted 4 stage cycle:

Stage 1--Accumulation stage
Stage 2-Mark up stage
Stage 3--Distribution Stage
Stage 4--Mark Down stage.

Pullbacks can occur in any stage. However, it is more prominent in Stage 2 or Wave 3 to EW (Elliot Wave) followers, because this is the most bullish and the most actively traded stage. It is also the stage where the price will trend the longest. As such you will see bigger pullbacks and more frequent pullbacks here simply because of the nature of this stage.

But as long as you are riding on profits, you are to set a trailing stop to protect your profits no matter which stage of the cycle you are trading in.

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Posted by tsy88 > Sep 21, 2014 05:24 PM | Report Abuse

Dear TCB - just need some clarity.

From what I gathered do far, there are 4 stages
Stage 1 - rectangle trading pattern within a specified trading range
Stage 2 - bullish, breakout and trending up
Stage 3 - bearish and correcting,quite volatile
Stage 4 - distribution

Not sure if I am correct in stating the above.

It is often stressed and indicated that for Stage 2, one have to set a trailing stop in case of a big pullback. Does this big pullback happen very often and why only confined to Stage 2? Am puzzled by this.

Hope my question does not sound odd or meanimgless.

Connie - congratz to you and everyone here on BIG. Great call. A Big hearted person like you deserves a Big reward from a BIG share!

SS661M - No, I don't think you have a big mouth. It is good to have ambitions like that. And I have no doubt that you will be good if not better than us in TA if you keep working at it. We look forward to your contributions here too. By the way, there are no sifus here as we are all equals.


klse228 - welcome and you are most welcome. Thanks for visiting.

SS661M - thank you for your suggestion which is a very good one. Unfortunately, that would be too tedious and time consuming as we do receive quite a large number of chart request at times. Perhaps, I should fill you in too. All of us here in TCB are volunteers with our own careers and business. We are doing this in the hope that investors, especially newbies, will pick up TA themselves to enable them to trade wisely and not lose their hard earned money through reckless trading and of course, we are also very passionate about TA and investing. Besides, we are not in a position to teach anyone but hopefully by sharing what we know, we can impart some of our experience and knowledge onto others. We can be wrong at times too.

One of the best way to pick up TA is to do your own parallel TA of the stock and compare it to the readings that was presented here. Like they say, practise makes perfect. As you will notice, we do not provide any advise here nor do we recommend any stock. All trading decisions rest with the investor himself/herself. We hope you understand our position.

tsy88 - thank you for filling in that piece of information on MMode.

SS661M - welcome and thank you for dropping by. Below is my take on MMode.

MMode:
It is consolidating at the moment on a side way trading range within the resistance of 0.695/0.70 and the support of 0.64/0.645. The key resistance price to overcome is 0.725 for any potential price reversal. On the daily chart, there is some accumulation taking place in the stock and it is also trading with a bullish Price/RSI divergence which implies some bullish bias in the price for the short term. The selling pressure on the stock also appears to have eased significantly.

You are right in that speculators trading this narrow range will not realize a hefty profit. However, traders accumulating within this range will probably be buying on the premise that its consolidation is nearing an end and it has bottomed out in this correction phase. They would expect the stock to re-test its high of 0.82 in the near future and ascend to new highs with its main board transfer as the catalyst.

Although FA and TA trading strategies can contradict each other, with both trading methods being effective in their own ways, I always believe that overtime, a stock will trade in the direction of its value. Based on Mmode's trading pattern, I wouldn't say that it is "a non-performing fundamentally sound counter". Its just that it went into a correction phase after a period of uptrend. As you are aware, no stock trends up non-stop. They need a breather in between which is healthy for the stock in the long run.

onghenghuat - Censof:

Currently bullish after breaking out from its descending triangle on 29/8 and confirmed by the breakaway gap of 2/9. It is now consolidating after hitting the year's high of 0.625.
Immediate support = 0.585 ; Immediate resistance =0.625.
If its immediate resistance is taken out, it will re-test its previous high of 0.67. On the flip side, it should have strong support at 0.56 if 0.585 is broken.

helang008 - BJToto:

On a downtrend. Immediate support is at 3.73 and resistance is at 3.79. The selling pressure is still relatively high with daily volume above 30d MA Volume and it is still not out of the woods yet. If the downtrend persist, the target prices on the downtrend will be 3.66, and 3.52. You may want to consider a stop loss at 3.72. We do not recommend you to average down your cost. More so for this stock as you will be trying to catch a falling knife as the selling does not appear to be over.

If you wish to take up Godbless88 suggestion of looking at the stock from a FA perspective, you will need to check out the intrinsic value of the stock to see where the current market price stands relative to that value.

gary1122 - barakah:

Temporarily found a bottom at 1.35 which incidentally is the support level now. It looks bullish subject to further confirmation when it broke the resistance of 1.41 and closed above it at 1.44. If the bullish momentum persist, it will attempt to break the next resistance at 1.50. A break above this price with volume would further confirm its bullish reversal trend.

helang008 - no problem. No need to apologize. We understand your position. We will get back to you on the charts over the weekend but please note that we will only present to you the readings on the chart. As you are aware, we do not recommend any buy or sell here and neither do we recommend any stock. All these decisions will have to be made by you alone. Thanks for your understanding.

Capt Jack Sparrow - Thank you for your contributions.

helang008 - we have noted your request. As always, you will need to give us sometime to work on it as the group of volunteers here looking into charts are also working people with their own career and business. So, we seek your understanding on this but rest assured we will get back to you. Thank you for your understanding. Hope you have a very profitable day in the market.

Capt Jack Sparrow - forgot to welcome you here and thank you for visiting. Please feel free to share any information that you wish. We believe in learning from each other.

tpchuayap - The next support for FGV is 3.35. However if you notice from the trade yesterday, it hit the tp of 3.46 and rebounded up to close at the higher tp of 3.52, an indication of an emerging buying support. If reversal, the resistance it needs to take out is 3.67.

Inwest88, tsy88 & all - Good morning & we wish you a very rewarding day in the market.

cherry tomato - Below is how I see it.

Arank: Its uptrend is still intact. Currently consolidating while the hammer of 17/9 indicates a potential bullish reversal. The follow up bullish candle lend further credence to this. You are correct in that volume has been rather low and a higher volume would ensure that the reversal is valid. Should have good support at 0.68/0.685 while its resistance lie at 0.76.


IHH: Yes, the bullish candle of 18/9 does indicate a potential continuation of its uptrend. Now I refer to it as potential as we usually want to monitor at least the 3 following trading sessions to confirm that it will trend up again. You are correct it went into a few trading days of indecisions. Immediate support is at 4.93/4.94 while immediate resistance is 5.05. Any break in the support with volume would also be a break in the uptrend line and potentially has bearish implications.

Tip: Try not to read the candles individually but instead look for its overall pattern. That was a very good effort though. Do remember that there can be variations in chart readings from one person to the next.

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Posted by cherry tomato > Sep 18, 2014 11:34 PM | Report Abuse

Dear TCB, please correct me on the below reading:

Arank
- bull indication as forming of morning star. However it should be confirm by volume.

IHH
- bull after few day of indecision. Today forming bull marubozu with volume.

Please provide resistance and support price for the above.

TQ.

Danke - Glotec:

As at 18/9:

Still in its sideways trading narrow range.


Update as at 14/9:

It did hit 0.13 as forecasted by Yoda and went as high as 0.14. Currently consolidating sideways within a narrow range of 0.10 and 0.105. Gap support of 0.09/0.095 is holding well. A break in 0.105 resistance could see it testing the high of 0.14 again.


Yoda's analysis As at Aug 20, 2014 12:17 AM

Glotec is trading sideways with an overbought situation but judging on the market sentiment on penny stocks, the momentum could be substantial and convincingly with significant volume it will be still on a bullish momentum. Should keep an eye for volume and price movemnt.
Resistance can be found at 0.105 and a break the band at 0.118 could bring it further to 0.13 level.Immediate supports are at 0.09 and 0.85.
A stop loss if 0.08 is triggered.
Happy trading.

As one of the hot penny stock heavily mention recently, it has surged 108.33% frm 0.6 to 12.5 between July 31 and Aug 21 following the announcement that Glotec was acquring 60% stake in New Century Energy Resources Ltd.Technically its at overbought situation at this junture and declining.Immediate supports can be found at 0.105 and 0.095. A stop loss if 0.09 is triggered. Resistance are at 0125 and 0.13.
Happy trading.

motomoto - DGB:

As at 18/9:

Consolidating with immediate support at 0.155 still intact. As the trading volume on 15/9 was high, it is normal for more profit taking to set in amidst weak overall market sentiment but the volume was relatively low.


As at Sep 16, 2014 07:52 PM

Bullish after breaking out from its rectangle trading pattern on 5/8 with volume. It has also taken out its key resistance at 0.13 and managed to stay above this level on good volume. Immediate support is at 0.155 while immediate resistance is at 0.18 and it also needs to overcome the psychological resistance of 0.20 with volume. Would encounter strong resistance at 0.24. Recommended stop loss is 0.14.

motomoto - IFCAMSC:

As at 18/8:

Still under consolidation. Selling pressure has subsided further.


As at Sep 16, 2014 07:08 PM :

Under correction and has filled the gap support at 0.395/0.42. The current support at 0.365 seems to be holding and it may be bouncing off this 38% retracement level. Need to overcome strong resistance at 0.44 in order to scale higher. The selling pressure appears to have declined for the time being. If you are bottom fishing, you may want to consider a stop loss at 0.355.


Posted by Lz Lee Weiping > Sep 13, 2014 12:03 AM

nana88 - IFCAMSC
Under retracement. Support level of 0.365 and 0.335. Resistance level at 0.43 and 0.445. Stop-loss if 0.335 is violated.

godbless88 - you will realize by now that it takes discipline to execute a trading plan. You need not feel restless about it although its human nature to feel that way. Once a stop loss is reached, you just cut accordingly without a second thought and move on like what you did. The stop loss is your maximum tolerable limit you allow the price to fall based on your own risk profile and financial budget before you call it quits. Under the circumstances, I think you have done well.

tpchuayap - For FGV, the next 2 tps are 3.52 and 3.46. Please note that tps are just a guide. The selling pressure today seems to have increased. Please trade cautiously.

tpchuayap - already done. Have re-copied here for you.

Posted by ProfitMan > Sep 17, 2014 12:04 AM

tpchuayap - FGV:

Remains bearish after breaking down from the symmetrical triangle on 30/5 when the 4.41 resistance was broken. It has now set a new low at 3.63. The selling pressure does not appear to have eased off and you can expect it to trend down further. If the bearish mode persist, it could take the price to its target price of 3.58. Immediate resistance is at 3.71.

Dunknow, Inwest88, tsy88, sunflower22 and all - Good Morning and we wish you a very profitable day in the market today!

tpchuayap - FGV:

Remains bearish after breaking down from the symmetrical triangle on 30/5 when the 4.41 resistance was broken. It has now set a new low at 3.63. The selling pressure does not appear to have eased off and you can expect it to trend down further. If the bearish mode persist, it could take the price to its target price of 3.58. Immediate resistance is at 3.71.

miapancho - sorry, we do not have a facebook link.

Dunknow - yeah, ktrader had me a bit worried there.....hahaha....

ktrader - YGL:

Bullish when it succeeded in breaking out from its key resistance of 0.145 on 2/9. It hit a high of 0.27 on 9/9 before it went into consolidation under a pennant. It has now broken out from the pennant to hit a new high of 0.325 with a spike in volume. Immediate support is at 0.255 with further support back at 0.22. Moving forward, if its momentum is sustained and the resistance of 0.325 is taken out, it will be heading towards its target prices of 0.36 and 0.43. As with all shares that trends up on abnormally high volume, you can expect some profit taking activities to set in. So, you may want to review your trailing stop along the way to protect your profits in case the stock goes into a consolidation phase.

ktrader - ...hahaha... for a moment, I thought i was out of touch with KLSC when I could not find the chart for it.

ktrader - kindly advise on the stock number for dgl.

Fosterrr/ ktrader- dgb:

Bullish after breaking out from its rectangle trading pattern on 5/8 with volume. It has also taken out its key resistance at 0.13 and managed to stay above this level on good volume. Immediate support is at 0.155 while immediate resistance is at 0.18 and it also needs to overcome the psychological resistance of 0.20 with volume. Would encounter strong resistance at 0.24. Recommended stop loss is 0.14.

Fosterrr/ ktrader: Ifcamsc:

I will just update to what Lz has analyzed below earlier.

Under correction and has filled the gap support at 0.395/0.42. The current support at 0.365 seems to be holding and it may be bouncing off this 38% retracement level. Need to overcome strong resistance at 0.44 in order to scale higher. The selling pressure appears to have declined for the time being. If you are bottom fishing, you may want to consider a stop loss at 0.355.


Posted by Lz Lee Weiping > Sep 13, 2014 12:03 AM

nana88 - IFCAMSC
Under retracement. Support level of 0.365 and 0.335. Resistance level at 0.43 and 0.445. Stop-loss if 0.335 is violated.

connie - ...hahaha.... yeah, selamat hari malaysia. Bread with banana is something I have never tried although banana is my favourite. But it is a great way to save money though. Rich in carbo and potassium. But during my uni days, I used to have bread with ice cream and the Mat Sallehs called me crazy. Bread with banana sounds crazy too but what a combo! Heh, on the flip side, inefficient guys like me work past midnight. Your wave readings have been very good and I have been silently following your "wavy" comments, not to mention I am also a big fan of skyhawk, tm and sephi. By the way, did you know that the world's production of banana is declining. Apparently, it is according to some reports.

Connie - happy holiday. Aaahh....a day to relax with breakfast & the papers is good. You are so nice. Still answering all queries on an off day. Cheers!

chiam4192 - SCH:

Lz had done a read on it and I will just update on to what he has written. It is still under correction, trading under the bearish harami of 4/9 and has retraced to the 0.27 support. The selling pressure may not be over and could yet test the resolve of the 0.27 support. If broken, it will be heading towards 0.24.


Posted by Lz Lee Weiping > Sep 13, 2014 12:03 AM

chiam4192 - SCH
under retracement. Support level of 0.28 and 0.27. Resistance at 0.295 and 0.30. Stop-loss if 0.27 is violated

CautiousTrader - XDL:

Sideway trading in a rectangle within a narrow range with a support at 0.17/0.175 and a resistance at 0.20/0.205. We usually avoid trading such stocks unless there is some potential catalyst to boost its price.

Taka - Asiapac:

Consolidating in a pennant but its uptrend remains intact. Support base at 0.31 and need to break 0.33 to signal a resumption of its uptrend. May face strong resistance at 0.35 before scaling new highs. If 0.30/0.31 is broken through with volume, it could signal a reversal in price. You may want to have a stop loss at 0.29.

NoobTrader - MEGB:

Trading sideways in a symmetrical triangle. Has immediate support at 0.38/0.385 and immediate resistance at 0.425. It could yet go into further consolidation as suggested by the bearish engulfing candle of 12/9. Major resistance at 0.485. A break in the 0.38 support would see it trend towards 0.31.

NoobTrader - Glotech:

Yoda's analysis As at Aug 20, 2014 12:17 AM

Glotec is trading sideways with an overbought situation but judging on the market sentiment on penny stocks, the momentum could be substantial and convincingly with significant volume it will be still on a bullish momentum. Should keep an eye for volume and price movemnt.
Resistance can be found at 0.105 and a break the band at 0.118 could bring it further to 0.13 level.Immediate supports are at 0.09 and 0.85.
A stop loss if 0.08 is triggered.
Happy trading.

As one of the hot penny stock heavily mention recently, it has surged 108.33% frm 0.6 to 12.5 between July 31 and Aug 21 following the announcement that Glotec was acquring 60% stake in New Century Energy Resources Ltd.Technically its at overbought situation at this junture and declining.Immediate supports can be found at 0.105 and 0.095. A stop loss if 0.09 is triggered. Resistance are at 0125 and 0.13.
Happy trading.


Update:

It did hit 0.13 as forecasted by Yoda and went as high as 0.14. Currently consolidating sideways within a narrow range of 0.10 and 0.105. Gap support of 0.09/0.095 is holding well. A break in 0.105 resistance could see it testing the high of 0.14 again.

kayza - SONA:

Mid-term: In the correction phase but the bullish engulfing pattern on week 12/9 indicates a bullish reversal could be on the cards. However, do note that the volume is not convincingly high.

Short-term: The dragonfly doji of 9/9 suggest that the bearish tone could be over subject to confirmation of course. Seems to have strong support at 0.47/0.475. Need to overcome its immediate resistance at 0.515 before it can work its way up to its next resistance at 0.58. Yes, there was a MACD bullish crossover. If you are planning to buy in near its trough, do set a stop loss, perhaps at 0.455.

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Posted by kayza > Sep 12, 2014 01:35 AM

Dear TCB, can you give me some TA on SONA. The charts MACD & Stochastic show some good signals.

tj, thank you so much for the ibhd workings. Great job!

bombastic - thanks your kind words. Glad you found it useful. The only reward for us is the satisfaction of knowing that traders like yourself found our contributions useful and is able to make money or avoid losing big money.

Taka - Jaks:

For the medium term, it remains bullish and is breaking out from its consolidation phase, under a flag pattern, to resume its uptrend. On the daily chart, it has taken out its immediate resistance at 0.755 but the important resistance it must break through is at 0.805/0.81 before scaling into new highs with an immediate tps of 0.88 and 1.01. Immediate support is at 0.75 and should have strong support at 0.70.

delima1938 - TAS:

Bearish after it formed a breakaway gap down when it broke the uptrend line on 18/7. Has found support at 1.00 while the next support level is at 0.88. The inverted hammer of 12/9 is an indication of a potential reversal in price BUT its important to gauge the following 2 trading sessions to confirm the direction of the price movement. Immediate resistance is at 1.08. We can't tell you how low it can go but you may want to consider a stop loss at 0.99 depending on your entry price.

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Posted by delima1938 > Sep 11, 2014 10:44 PM

Kindly advise on TAS.How low can it go?tq

OptimusX - welcome and thanks for dropping by. We do appreciate any sharing of trading ideas. Have a great weekend.

sunflower22 - Cworks:

Broke out from its sideways consolidation's resistance of 0.31 on high volume with an increased momentum to offer a hint of a potential price reversal. Has support base at 0.265. Immediate support is at 0.31/0.32. If breakout is successful, will encounter resistances at 0.40 and 0.445.

inwest88, tsy88, Dunknow, NoobTrader, bombastic, OptimusX, and all - Good morning and hope all you good people have a relaxed and enjoyable weekend.

nicholasnwh90 - Gocean:

Currently consolidating in a flag formation. It needs to break the resistance price of 0.155 in order to continue its upward momentum. It has temporarily closed above 0.155 at 0.16. If it is able to sustain at a level above 0.16 for the next few trading sessions, then it would continue its upward drive and a break in the next resistance at 0.20 with volume would confirm the validity of its uptrend. Good support expected at 0.14. Stop loss at 0.11 is suggested.