Dunknow - IFCAMSC:

Update:
As expected, it is still under consolidation with selling pressure further subsiding. Need to take out the 0.27 resistance to resume its upward momentum.


Aug 5, 2014 10:17 AM
AyamTua - IFCAMSC:

Seems to have found strong support at 0.22 at the moment. It is now testing the 0.27 immediate resistance. The selling pressure seems to have eased off but you can expect some consolidation, which I feel is healthy, before it trends up again.


Aug 4, 2014 12:56 AM
kc18 - IFCAMSC:

On a weekly chart, it formed a shooting star which indicates it could be in for a bearish phase in the medium term. On the daily chart, there was a sell down on high volume over the past 2 trading sessions. It broke its immediate support at 0.24 on 1/8 and has found temporary support at 0.23. As the volume is still high, it may not be out of the woods yet. We do not give advise on what is a good entry point. The decision is only yours to make. You may want to continue monitoring for the selling pressure to ease off before taking position. If you decide to take position at 0.23, you may want to exit if 0.205 is broken through.

Inwest88 - good morning.

Inwest88- thanks. Appreciate it.

horriefic - welcome. Yes, as you already know, M2U has a charting tool in it. Or you may want to download the free version of Chartnexus which quite a lot of traders use. It is more versatile than the M2U platform. Of course, there are also charting softwares like Metastock and J stock that you can buy and subscribe to for a fee.


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Posted by inwest88 > Aug 6, 2014 06:31 PM | Report Abuse

horriefic - you came into the right thread but asked the wrong person. I do not know or use TA but just my years of experience in picking stocks, which may not be agreeable with others.

Nevertheless I am sure ptofitman and the others here will be of assistance.

profitman - over to you. Thanks.

tsy88 - KSL:

Bullish. Immediate support (S) = 3.15 ; S2 = 2.98. TP1 = 3.34 ; TP2 = 3.51.

KSL-Wa:

S1 = 1.64 ; S2 = 1.47. TP1 = 1.81 ; TP2 = 1.89

Note: as you are aware, the warrant's movement will track its mother's share.

russtieluv - Barakah:

I take it that you are enquiring on the stop loss for Barakah. I do not know your entry price and your risk profile, but I would set it at 1.52, 1 tick below its current support base at 1.53.



Posted by russtieluv > Aug 6, 2014 03:21 AM | Report Abuse

Dear TCB!what the stock loss for Barakah petroleum?thanks.

Inwest88, Good morning.

rocas - AT:

Broke out from its rectangle trading on 5/8 with volume when it penetrated its resistance line at 0.085 which is now its support level. Resistance 1 (R1) = 0.135 and R2 = 0.17. It needs to stay above 0.085 over the next 2-3 trading session with volume to confirm that the break out is valid. It has a support base at 0.07.

motomoto - SKPres:

For the time being, it is intact. Conservatively, I prefer to monitor the next 2-3 trading session for confirmation in case it is a false breakout. Do keep in mind your stop loss price. Sorry, it does not appear to be an ascending triangle.

winwinborn - WCT:

Looking bullish after the break out from its rectangle trading pattern. Support is at 2.25, The break out appears to be holding well on 5/8. If it remains above 2.25 over the next 2 trading sessions with volume, then it confirms the validity of the price reversal and it should be testing to break the next resistance at 2.42.

Klsenewbie - Adventa:

Broke out on 1/8 with volume. Although it came under profit taking activities, the selling pressure appears well absorbed thus far. The break out filled the gap resistance of 1.05/1.16 temporarily. For the break out and price reversal to be valid, it needs to sustain its price above 1.16 and test the next resistance at 1.22. Immediate support rest at 1.10 with strong support at 1.04.

lctay81 - Cuscapi:

Trading in a descending triangle. Immediate resistance = 0.405. A break in this resistance with volume could signal a price reversal if it can be sustained above this price level. Has found a support base at 0.38/0.385. If penetrated could see it trend towards 0.34. You may want to set a stop loss at 0.37 if you intend to bottom fish. There is accumulation taking place with this stock.

connie - just saw your comments. Its funny. Not bad, just a message and you fell asleep! Actually skyhawk posted a very nice relaxing music for you. I listened to it and fell asleep on that. ....hahaha...

AyamTua - IFCAMSC:

Seems to have found strong support at 0.22 at the moment. It is now testing the 0.27 immediate resistance. The selling pressure seems to have eased off but you can expect some consolidation, which I feel is healthy, before it trends up again.

Connie & all, good morning. I like the way you look at an overtaking rude driver, a very positive view. There is always 2 sides to a coin. Great way of looking at things! Ease the blood pressure too. Have a good profitable day ahead! Cheers!

air01557 - Malton:

In 2013, the group experienced a 38% drop in profits on the back of a 5.5% increase in revenue. In fact over the past 3 years, its profits have been declining year on year while its revenue averaged a -1% growth over the past 5 years. In 2013, it has a negative cash flow from operations but a positive cash and cash equivalents and it is not a highly geared company. However, its JV with Ho Hup in the Pavilion 2 project would impact positively on its financials in the future.

motomoto - skpres:

Still under consolidation. You are right, the current support level 0.56, a 23.6% retracement, seems to be holding well. If this level is broken, it should be well supported at the next 2 support level at 0.515 (38.2% retracement) and 0.485 (50% retracement) respectively. In order for a resumption of its bullish trend, it needs to take out the 0.635 resistance convincingly with volume. There is accumulation in the stock in the short term as signaled by the divergence in the price/acc.dist vol on the daily chart.

CautiousTrader - Astino:

Under consolidation. Range bound. Immediate support = 1.71. Immediate resistance = 1.79. Will test previous high of 1.86 if break 1.79 and will continue its bullish trend. If break 1.71, will trend towards next support at 1.65. Divergence in price/acc.dist vol present, indicative of accumulation in the stock.

kc18 - It would be helpful for you to draw up a trading plan before you enter a trade because a trading plan will alert you on when to cut loss and when to consider taking profits. It also removes part of the emotions of trading besides minimizing the chance of you being shaken out by the market when the price dips. If the stock has not hit your stop loss, you can continue to hold on to it. Please bear in mind that there will be intra day price fluctuations.

connie, oh, you just came back from Switzerland, right? So, you must be experiencing jet lag or you miss Europe too much! ...hahaha... Good to see you here.

connie - thought you sleep early

tjhldg - ...hahaha...thank you for your kind words. Just like everybody else, I do incur trading losses too. I believe you are a very good investor yourself.

First of all, I accept and respect the fact that different people have different investment techniques be it FA, TA, FA+TA or no FA and TA. I am also a firm believer that as long as it works and you make money from it, then it is a good technique even if the method is unorthodox.

You are right, if you trade on FA, you are suppose to add more if the price trends down as you will now be trading with a higher margin of safety, assuming it is trading below its intrinsic value. Of course, with TA trading, we do not average down, hence, we cut loss once it hits our stop loss price. So, the 2 approaches run contradictory to each other.

Seems to me that you utilized these 2 approaches depending on which stocks you are trading. Frankly, if by employing these 2 approaches for different types of stocks enabled you to maximize your profits, then it is a good method for you and I personally don't see anything wrong with it.

In my medium and long term basket of stocks, I do accumulate the stock if the price trends down but there must be no change in the fundamentals of the stock. However, in my short term basket of stocks, I trade on TA basis where I will trade based on my trading plan. Simple TA like support and resistance and volume is fine and in fact can be very effective. Too much use of indicators can give conflicting signals. As I have previously quoted before and I will re-quote here again that "too much analysis can lead to paralysis".

Thank you for sharing your trading technique here. We learn from each other everyday. Really appreciate your presence here, tj. Cheers.

kc18 - IFCAMSC:

On a weekly chart, it formed a shooting star which indicates it could be in for a bearish phase in the medium term. On the daily chart, there was a sell down on high volume over the past 2 trading sessions. It broke its immediate support at 0.24 on 1/8 and has found temporary support at 0.23. As the volume is still high, it may not be out of the woods yet. We do not give advise on what is a good entry point. The decision is only yours to make. You may want to continue monitoring for the selling pressure to ease off before taking position. If you decide to take position at 0.23, you may want to exit if 0.205 is broken through.

prosperity2088 - in case you missed it, Yoda88 has done Hovid for Danke above. Thanks.

inwest88, zx08 - thank you for sharing those links. Surely it will be very useful to everyone. Very kind of you people.

Miki Sia - Ho Hup:

Under correction and currently trading in a descending triangle. Over the past 3 weeks, it was range bound between the 1.36 resistance and 1.32 support. Seems to have formed a support base at 1.32. A break below 1.32 would take it to the next support level at 1.25 which means a continuation of its correction phase. Should it break its 1.36 resistance with volume, it will need to take out the dark cloud formed on 3/7 with a resistance of 1.41 before testing the next resistance level at 1.46. Trading volume has been low and you can expect more consolidation.

We do not give advise on what you need to do but there are certain factors you can evaluate. The question you will really need to address is are you going into this stock for short, medium or long term. Some traders may cut out to free the funds up for other potentially profitable stocks. Or some may want to stay with it since it has a temporary support base at 1.32 and cut out if the 1.32 support is broken which could also mean incurring more losses. Yet some others may decide to hold it for the mid term in which case you will need to look at the FA side to see if its worth holding. Only you know your risk appetite and holding power. So, its a decision you will need to make.

Miki, it is always good to lock in profits when you have profits because no share goes all the way up with no correction or breather. Remember, an egg in the basket is worth 10 outside the basket.

tsy88 - as you may be aware, the intrinsic value of a share is a valuation of the company's share . It is based on certain calculations and it may or may not equal to its market value. Say, the intrinsic value of a company is 3.00 and if its share is trading at 2.00, then it tells us that it is trading below the actual worth of its share. So, it has the potential to trade up to 3.00.

However, do note that we do not know when the share will reach its intrinsic value or if it will ever reach this value.

tm932 - absolutely agree with you on the US market. I believe the sell down was probably a result of the culmination of fear due to a combination of the geo-political situation, the Argentinian credit rating, the Russian sanctions and the Portugese banking situation.

inwest88 - "Academic"...hahaha...that is a very good one.

Ayamtua - Censof:

Still trading in its descending triangle with a support base at 0.47 which is holding quite well. Immediate resistance is at 0.50. Any sustained break in this resistance with volume could signal a price reversal where it would test the next resistance at 0.535. Stop loss can be set at 0.46.

kc18 - Silk:

Bullish. Has broken out from its pennant on 30/7 with an immediate support at 1.14 and an immediate resistance at 1.24. You may want to set a stop loss at 1.13. TP 1 = 1.22 ; TP2 = 1.30 and TP3 = 1.42. Currently it seems to be well supported at the 1.18 level.

inwest88 - good morning. Yeah the Argentinian credit rating, Russian sanctions and other political instabilities are weighing on stock markets worldwide.

Posted by profitman > Aug 1, 2014 01:00 AM | Report Abuse X

Dunknow - MKLand:

As you are aware, it is currently on an uptrend and need to successfully take out its resistance at 0.56 to trend new highs. If it does, it carries target prices of 0.59, 0.67 and 0.80. But whether it will revisit its 1.20 level depends on a number of factors, specifically relating to its future growth and earnings prospects. Its financials in 2013 does look promising with respectable growth in its earnings and profits. Perhaps you may want to take a look into its intrinsic value to give you an indication of its share potential.

cityplus - SCH:

Have broken out of its 0.245 resistance on 21/7 after a period of consolidation but was unable to scale higher beyond 0.285 as it encountered strong resistance at this level. Has found a bottom at 0.22. Currently, its immediate support lies around 0.26. A successful penetration of 0.285 will see it test the next resistance at 0.295/0.30, which if broken could signal a trend reversal.

russtieluv - Multico:

It is still in the correction phase and it has found a bottom at 1.45 which represents a strong support should there be a pullback in its price. Currently trading in a symmetrical triangle and it needs to break out with volume and stay above 1.54 for any meaningful price reversal. Resistance levels are at 1.58 and it needs to close the gap resistance at 1.63/1.68 to scale higher. Immediate support is at 1.49. On the daily chart, some accumulation taking place in the stock.

tjhldg - nice to see you here and thanks for dropping by, tj.

triplc: it looks bullish on wave 3. It has taken out the resistance at 1.52 and is poised to scale higher. However, in view of the high volume on 25 and 30/7, I would expect some profit taking activities before it moves up again. The next tp is at 1.66. Thanks for highlighting this stock. Hope you make good money on this.

steffie - Parkson:

Still trading in its downtrend channel. Has broken through its resistance at 2.66 and is currently encountering resistance at 2.81. Immediate support is at 2.58. Further supports are located at 2.51 and 2.45. It needs to break out from 2.83 with volume to have any meaningful attempt to scale higher. Otherwise, it will continue to trade within its channel.

Connie - thanks for posting the article even though you are still on holiday (am i right?). The author is direct and correct in many ways. I suppose you must be having one heck of a good time over there. Continue to enjoy it. You deserve it! Cheers!

Tsy88/Inwest88 - good morning.

Tsy88 - Landmark at 1.62 does present a minimal risk entry point. Please remember to set your stop loss as contingency for any price pullback. Good luck on it.

Dunknow - Uzma:

Under correction with a slightly more than a 50% retracement. The selling pressure seems to have eased off over the past 2 trading sessions. On the daily chart, there were signs of accumulation in this stock as reflected by the price/acc.dist vol divergence. Has found support at 3.71 with strong support further back at 3.66. Need to break the gap resistance at 3.90 with volume in order to have a valid price reversal.

tsy88 - Landmark:

Bullish but currently consolidating. Seems to have found a temporary support base around the 1.60 price. If this support does not hold it should have strong support at 1.44. So, if you are thinking of entry at the current levels, you may want to set 1.58/1.59 as your stop loss. Need to take out the immediate resistance at 1.67 with volume to scale new highs with an initial target price of 1.79.

Bs1688 - JAKS:

Currently under consolidation with immediate support at 0.745 and strong support at 0.705. Immediate resistance = 0.825. Need to clear the dark cloud on 17/7 with a high of 0.85 in order to scale new heights. There is a price/acc.dist vol divergence on the daily chart suggesting accumulation in this stock. You may want to set a stop loss at 0.735 in case of a pullback in its price.

We at TCB wishes all our Muslim friends "Selamat Hari Raya" and safe traveling during this festive season to all!

inwest88 - good morning.

tsy88 - on behalf of TCB, thank you. You too, happy holidays. Rest well to continue your winning streak in the stock market!

cityplus, rocas, russtieluv - welcome and thank you for dropping by. We will do the chart reading for you good people over the holidays.

russtieluv - you are most welcome here and if you have any information or trading techniques that you wish to share, please feel free to do so. We not only share TA but also FA, market information and opinions as we believe in learning from each other. Please do not take our chart reading as a buy or sell signal as the final trading decision rest with you.

Some visitors were wondering if we have a hidden agenda or ulterior motive for reading charts for FREE while others charge a fee for it which they are absolutely entitled to charge. Please be rest assured that we do not have any hidden agenda or ulterior motive and we do not sell anything. Many of us at TCB have a history of having lost a lot of money in the share market and this is our way of giving back to society and to genuinely help traders especially newbies, so that they do not lose a fortune in the market like some of us. Afterall, all of us make hard earned money.

Happy holidays.

Inwest88 - yeah, agree with chongls, well said. Life is too short for petty stuff. Happy holidays.

courage - THHEavy-WA: it has come under profit taking pressures after the gap up on 21/7. It should have strong support at 0.42. You may want to set a stop loss at 0.41 in case the strong support gives way. I don't know your entry price, but there does appear to be a slight hint of a bullish divergence in the price/Rsi indicator in the short term. The resistance going up will be at 0.455. As you know, warrants usually tracks the movement of its mother share. THH has been sold down for sometime so it is not surprising to see profit taking activities when it gaps up.

Sona-WA: This is also in a similar profit taking situation to THH-WA. It should find support at 0.265, which is the level it is currently testing. If broken the next support is at 0.255. Resistance is at 0.29. There is no divergence here. The mother share is expected to go into consolidation and you can probably expect the same with the warrant in the near term.

tsy88 - inwest88 could be busy. As i know him, he makes it a point to respond except when he is busy. We at TCB greatly appreciate your presence here as well as your contribution and we look forward to your presence. Wish you a profitable day ahead.

madhas - FRB is testing its support base at 0.70. It was sold down on 24/7 on above 30MA volume. I would probably suggest you monitor for a few trading sessions to see if this support base holds.

pathew - thanks for the CBIP alert. Yes, it should be testing its high of 4.80. The only drawback is that it is trending higher on lower trending volume.