tsy88 - Kenanga:

It would depend on your risk profile. For me personally, I would put it at 0.74/0.735. A couple of important pointers to note though:
1. the next support is at 0.725
2. it is in a correction phase and has retraced 38%.

Lz Lee Weiping - Alaqar:

You are right, it is now trading in a rectangle. It should have strong support at 1.35. The next support level is at 1.31 while the next resistance levels are at 1.42 and 1.44. It more of a rectangle trading pattern than a triangle. To me, it is currently non-trending and moving sideways.


Posted by Lz Lee Weiping > Jun 6, 2014 10:37 AM | Report Abuse
dear TCB can help on ALAQAR?

had a trend reversal in 16/01/2014 (long candle tail), and now it's trading in a rectangle which had a strong support at 1.35 and a resistance of 1.4. But then it seems to me that it's also trading in a big triangle which has the support level of 1.3 and resistance level of 1.4 since the year 2013.

nch218 - Sycal:

Bullish and under consolidation at the moment. Can expect it to trade sideways in the very short term on reduced volume. However, its overall uptrend should remain intact.

Immediate support = 0.38 ; S2 = 0.345
Immediate resistance = 0.40 ; R2 = 0.425

Dino Limo - Hevea:

Bullish on wave 3. After the bullish engulfing of 23/5, it underwent some correction and consolidation and found an immediate support at 1.35. It has strong support at 1.32 but if broken, will head towards 1.24. Going forward, it will encounter resistance at 1.43 (immediate resistance), 1.46 and 1.50 before coming face to face with its major resistance at 1.54. The momentum moving forward has weakened at the moment and possibly some minor retracement can be expected assuming no external shock to the local bourse.

FA wise, it recorded improved performances in 2013 with some decent increase in revenue, profits and cashflows.

tsy88 - no problem. Most important thing is not to lose on a trade.

Lz Lee Weiping - Sapind:

I don't think it is going into a downtrend based on current pattern formations. It has broken out of its downtrend line on 20/3 and it is bullish in wave 1. It may possibly go into a healthy retracement as part of the wave 2 correction before it embarks into the very bullish wave 3. This is the most likely scenario on the movement of this counter. SF is right in the sense that it is losing a bit of momentum at the moment.

tsy88 - Furnweb:

Was trading sideways between the support of 0.81 and the resistance of 0.83 before it opened with a gap up on 3/6 with volume. The direction of the price movement today is indecisive with the doji formed. If the break out is sustainable, it will test the next 2 resistance at 0.86 and 0.895/0.90, its gap resistance, respectively. If the gap resistance is overcome, it will re-test 0.915.

If it fails to sustain the upward momentum, it will most likely retreat into its sideways movement with an immediate support at 0.81, with strong support at 0.79. You may want to set a stop loss at 0.78 because if the 0.79 support is broken, it will trend towards 0.72.

On the FA aspect, please note that its revenue slipped 6.7% in 2013 and its cash flow from operations has turned negative in 2013.

lsy7 - thanks for sharing the info.

Matrix - ha ha ha... yes you are right, grass might die while growing. That is why we always advocate traders to monitor your stock and cut loss early if it hits your trailing stop, i.e. grass is dying. And if the share is trending up, i.e. grass is growing well and turning greener, ride the profits and lock in profits when it hits your target, i.e. time to cut the grass to sell. Just an anecdotal way of looking at things.

Just read this interesting Samuelson quote that I thought I share with you people. An interesting way and another perspective of looking at investment.

"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas."

Paul Samuelson

johnny cash - my personal opinion on these screeners is that it provides an alert or a highlight for us to look further into the counters BUT to me, it is not an indicator to buy or sell. You would still need to analyze further into the counter if you wish to trade into them. It may alert us on the counters but it does not indicate when to buy/sell in or out and neither does it indicate the price level we should buy or sell. At the end of the day, you and you alone will have to make the analysis yourself and decide on the next course of action.

jass/Dino Limo - Preshld:

If we were to look at the hammer formation on 28/5, by itself, it is not a buy signal although it has got bullish reversal implications. Usually, we wait for the following days performance to confirm whether the reversal will take off. And if you look at the prior candles, you will notice that they were bearish in nature, which means the selling may not be over so quickly. So, it is best to look at the hammer in conjunction with other indicators for confirmation of a reversal.

You are right, there is some accumulation taking place. On 29/5, there was a hint of a Price/AccDist vol divergence forming which points to shares accumulation. The 1.72 support is important. As Matrix mentioned earlier, "if support of $1.72 is violated with volume it is definitely heading south to $1.63/$1.58 and $1.40".

Johnny Cash - UEM Sunrise:

This analysis done for Christie on 29/5 still stands. Today it tested its immediate support at 2.05.:-

Currently on a bearish run after the temporary bullish reversal in Feb 2014 preceded by a downtrend that started in May 2013. The breakout with a gap up on 14/5 with volume was nullified by selling pressures that has since increased due to its Q1 net profit plunge. The selling may still persist and it is not out of the woods yet.

Immediate support = 2.05/2.06. May have strong support at 2.02.
Immediate resistance = 2.22. If broken, will re-test next resistance at 2.31.

Sp Boiboi - L&G Wa: if you officially gets it after the ex-date, as far as I know, you are not entitled to it. They go by the ex-date. Best if you re-confirm with the respective share registrar.

Chenlai - BIG:

Under consolidation since the dark cloud was formed on 3/4. Trading is generally thinning out, possibly sellers exhaustion. From breakout on 18/3, it has retraced about 63%.

Immediate support = 0.67 ; S2 = 0.62
Immediate resist = 0.77 ; R2 = 0.865 ; R3 = 0.90/0.915 (gap resistance)

Dino Limo - Minho: I will just address your wave question. I am afraid you will need to read up on the basics of EW (Elliot Wave) to really understand it.

On the EW, Minho is on wave 3. Yes wave 3 is the longest wave, most bullish and is the wave that you want to trade.

W3sw2 means Wave 3 sub-wave 2. In simple and short terms, it means the 2nd wave within the bigger wave 3. It can be confusing until you know what EW is all about. In EW, there are waves within a wave called sub waves which can be further divided into more sub waves. Even if you know EW, it can get very confusing.

Unless you want to trade based on EW, if not then I would suggest you get into it at a later stage. There are some very good wave readers who trade primarily on the EW and are very successful at it. These traders will count into the sub waves to look for entry and exit points.

Christie - XDL: Yes, 24.5 is also a resistance level. On that particular day, buyers pushed the price all the way up to 24.5 and faced resistance to go further before closing back down to 21sen. However, the stronger resistance lies in the 25.5/26 sen zone.

I also noticed from a quick glance into their 2013 financial statements that revenue and profits dropped almost 40% while cash flow from operations dropped 45% = weak FA.

Christie - XDL:

Trading sideways with the upper band at 0.22, resistance, and the lower band at 0.205, support. The bullish move on 14/5 was completely rejected by the bears, evident from the bearish engulfing candle on 15/5. Based on this, the stock will in all likelihood be trading sideways unless there is a catalyst to propel its price up.

Should it break 0.22, it will need to test the next resistance level at 0.255/0.26. It is confronted with a major resistance at 0.385 where it needs to fill up the gap resistance at 0.385/0.41 before it can trend any higher. Any further downward pressure will see its price test its next support at 0.18 from 0.205.

Christie - UEM:

Currently on a bearish run after the temporary bullish reversal in Feb 2014 preceded by a downtrend that started in May 2013. The breakout with a gap up on 14/5 with volume was nullified by selling pressures that has since increased due to its Q1 net profit plunge. The selling may still persist and it is not out of the woods yet.

Immediate support = 2.05/2.06. May have strong support at 2.02.
Immediate resistance = 2.22. If broken, will re-test next resistance at 2.31.

Christie - Tiger:

Non trending with side way trading in a rectangle. The upper range price of 0.145 forms the immediate resistance while the lower 0.135 forms the immediate support level. A break in resistance will see it trend towards 0.17 and conversely, a break in the support line will see it test support at 0.125 where the support could be strong. Low daily volume exhibits disinterest in this stock at the moment.

Christie - Gpkt:

Bearish. The bearish engulfing candle on 28/3 pre-empts the bearish undertone to the stock. It is now consolidating down on low volume, below 30d MA volume. Now testing its support level at 0.37 with the next support level being 0.335. Immediate resistance is at 0.42.

The TM deal with GPkt could have been the key catalyst for some investors to sell down this stock.

Matrix - thanks. Humbled by yr comments.

Christie - If you looking from a FA perspective, then yes, you may opt to keep although the safety margin is not a lot. Hopefully, when Hwang's revenue are merged and recognized in Affin, you will get a higher IV, increasing your safety margin.

Christie - Affin:

Downtrend in the correction phase. Based on the limited 3 yrs data that I have access to, on the EW count, it is correcting under the ABC waves. Currently, its downward momentum seems to have slowed and it is now trading within the range of 3.61 and 3.65. As it is trading with a price/RSI divergence, there could be a potential upward bias in its price movement in the short term subject to confirmation with subsequent candles formation. There is also an emerging sign of a Price/AccumDist divergence an indication of accumulation taking place in its shares.

If it breaks out of its immediate resistance of 2.65, it will test the next resistance at 3.72. If it is unable to stay above its immediate gap support of 3.60, it will likely trend towards 3.50.

I noticed you bought at a higher price. Can't advise you what to do but you can consider the following points:

1. Check out the worth of Affin's shares when the full impact of Hwang's sales is reflected in its financial statements. If you know its intrinsic value, even better.

2. What is the acceptable holding period of this share for you. You will probably need to know the long term growth prospects of Affin with Hwang's operations fully merged.

I hope this help for Affin.

Christie - on behalf of TCB, welcome. Please feel free to contribute in whatever way you can. We can all learn together. There are really no sifus here but we do try to help each others out within our capacity.

Some pointers on candlesticks. Know the basics of candlesticks and start off with the key candlestick formations like doji and hammer and stuff like that. Once you are more familiar, then study candlestick patterns. Don't need to read every candles on the chart. Just the candles at the critical stage of the chart. Take it step by step and you should be ok. Looking forward to your postings.

Don't worry, all of us are learning here. Give us sometime and we will go through the counters for you.

chris - hi.

connie - good night.

Dino Limo - LBS:

It is consolidating along a narrow range bound channel with a 1.72 support and 1.75 resistance. As you know, the dojis imply that there are still indecisions in the direction of the share. There was a failed attempt to break out on 12/5 before sellers brought it back down. The next support level can be found at 1.68.

Whether to accumulate now or later depends on your trading strategy for this share. Some traders like me wait for a reversal pattern before taking positions like when it breaks above the resistance with increased volume and stay above 1.75 over a few trading sessions before moving in.

Then there are others who buy at a time like this taking into consideration their risk benefit ratio and the potential holding period on the share. Or a trader may know of some potential news that would act as a catalyst to the share to cause them to buy in now.

So, I would say, it very much depends on your trading strategy.

ck - GOB:

Attempting to move up on higher volume today. Immediate support is now at 0.985 with an immediate resistance of 1.07 while resistance 2 is 1.11/1.12. Selling pressure still persist but seems well absorbed.

Dino Limo - MMode:

Volume is a very important indicator because unlike all other indicators, it is independent of price. For the past few days, the volume of this stock is above the 30 days moving average (MA) volume.

When you have bearish candles on high volume, selling pressure is higher which means a lot people are taking profit on this stock after the run up in price. If the volume is low, it is a consolidation phase, a breather before it moves up again. There are still some profit taking here but very much lesser which also means many traders are holding on to their stocks waiting for another run up.

Actually, for trading, the important things to know is how to interpret critical candlestick formations, identify support and resistance, volume and setting stop loss and yr own target price which Matrix has posted on these previously. MACD is a lagging indicator. I use to use it but seldom nowadays. Leading indicators like RSI is more useful. You really do not need to use a lot of indicators as you may get confused by the different signals coming out of it.

Dino Limo - MMode:

That was very well done. Please don't feel offended as below are my comments to it:
1. a bearish harami is formed when you have a large white candle on 1 day and the immediate candle following that is a smaller candle, can be white or black, usually its black, and it is within the body of the white candle. It signals uncertainty and a potential trend reversal. Subsequent candles are not considered as haramis. But the candle formations of the past few days do tell us that profit taking is in progress. Volume is above MA Vol.

You are right, it may consolidate.

2. The bullish candle on 20/5 overcame the gap resistance of 0.63/0.66 formed on 19/2. The bullish trend appears strong but it needs to stay above 0.66.

In general, your evaluation and feel for the movement of this stock are correct.

We look forward to more TA sharing from you.

Dino Limo - I think that was a very good idea by Matrix. We have to start somewhere and moreover, one of the key objective of this thread is for this to be a place where we share TA. There is really no right or wrong way to TA as different individuals interpret things differently just as different individuals trade differently. I still learn from the postings here like everyone else here.

Dino Limo - Barakah:

It is consolidating down to its next support level at 1.58. It it doesn't hold, it will trend towards 1.51. Immediate resistance is at 1.70. I believe the Saudi project tender result will be out in June.

angie80 - D&O:

Gapped up with volume on 19/5 on a bullish mode but was unable to break the strong resistance at 0.38. Today it surpassed the 0.38 resistance and is re-testing its major resistance at 0.405 on high volume before scaling new highs.

Support = 0.32/0.33 (gap support)
Resistance = 0.405

connie - about to have lunch. Take it easy on the waves, will ya.

connie - so sorry. more like yr secret admirer. ha ha ha ...

summer_day - SBCCORP:

Earlier analysis by SF as at 30/4:

SBCCORP (by SF)- Summary: Support (S)=> S1 = 2.14 ; S2 = 2.01 ; S3 = 1.87

Update analysis on 11/5:

Summary: Broke support at 2.14, trended down to a low of 2.12, tested and found support at 2.06. Potential price shift with decreasing selling pressures. Not a buy signal. Need to take out the resistance at 2.26/2.27 and in the process will also take out the engulfing bear on 5/5. Immediate support = 2.06. If you are bottom fishing, please set your stop loss price in case the trade turns against you.

Update analysis on 15/5:

Managed to break the resistance of 2.26/2.27 on 14/5 but not convincingly. Still testing to break the resistance.

Update analysis on 24/5:
Unable to break resistance successfully. Support level at 2.06 is holding well so far. Inverted hammer on 23/5 indicates a potential shift to an upward movement but it is not a buy signal. Need to track subsequent pattern for confirmation. On the larger picture, the stock is in a correction phase.

noisyboy - LCTH:

On a bullish phase. Broke out with a gap up on 10/4 and hit the year's high, 0.305 on 8/5. Came under profit taking and is now consolidating. The selling momentum is slowing. Need to clear 0.29 strongly on higher volume to scale new highs.

Support 1 = 0.245 ; Support 2 = 0.22
Resistance 1 = 0.305

cathyee - 1Utopia (0140):

Broke through its support at 0.075 on 28/4 and is trending towards its next support level at 0.045. If you are thinking of going in, there are a few points to consider.
1) your acceptable downside risk given that the closing price today is at 0.055 and the potential downside is another 1sen, if it settles at the 0.045 support level, assuming this is a strong support level.
2) Usually I wait for trend reversal signals.
3) Is the SMA 15d above SMA 30d and SMA 100d. Otherwise, you may have to hold on to the stock for a long period of time unless you are in possession of some inside information. Which raises another question - what is your acceptable holding period.

Immediate resistance = 0.07 ; Resistance 2 = 0.095.

Different individuals have different criteria and methods, and this is just only my way of looking at things. Hope this helps.

Kent_86 is right. (thanks for the info Kent_86) If the directors are selling off, you may want to monitor first. And it raises another question, i.e. why is the MD disposing.

ck - Iris:

Immediate Support: 0.40
Immediate resistance = 0.435

Consolidating in a rectangle. If break 0.435, will test its next resistance at 0.51 while a break below 0.40 will see it trend lower towards 0.325. It is in the correction phase.

connie - you too have a good weekend. Cheers.

newbie - you too, have a fabulous weekend.

connie - you made my day. Am floating now. For that, all your counters will rise by at least 30% on Monday.

connie/newbie - not much movements in the 2nd and 3rd liners.

connie - thousand apologies!

connie - so sorry. Actually should be "taught" and not "thought". Ahh, I better review my English. Terrible.

connie - you see, you just thought me. I was hoping you can promote me from "sweet-heart in the morning and saccharine-heart now" to something higher up! Just to feel good. ...ha ha ha ...

connie - doesn't matter, they are all guidelines anyway. I think if you project it on the wave, you can get a similar result as the wave is based on fibo too.

connie - the swing is from low to high and then when it retraces from the high there is a low point in the retracement which is 0.94. Hope I did not confuse you.

connie - what is yr swing low on retracement. 1.05 is ok. 0.86 close to my 0.87.