Joyous - the support of 0.24 remains. Does not change so fast unless there is a series of drastic price moves which calls for a reassessment of the immediate support level.

Joyous - no, I am not in KTB. If you are, then congrats. Yesterday's candle was bullish. Remember to keep reviewing your trailing stop.

Matrix - I have cleared Engtex when it hit my stop loss. Like you said, take my losses and move on.

connie - great. I did some quick trades on Silk and have locked in profits when it surges. Still eyeing it for quickies. Can belanja you makan now - maybe rice + ikan billis? Are you in KTB?

connie - now you see me! presentman! ha ha ha...long working hours i have got. Have you locked in profits for Silky babe?

connie/aquaterra/ and gang - good morning

Connie - thks for Demons. Nice. My all time favourite, probably the only song in the world with no chorus:
http://youtu.be/fJ9rUzIMcZQ

Mc_Wei - yeah, I heard CIMB has a good stock platform and I think its better than the Maybank one that I am using. Thanks for sharing.

wtclau - very sorry you came to the wrong person to ask. I do not have a truly TA book. I only have 1 book by Adam Khoo (Winning the game of stocks) which talks about investing in a nutshell and touches on FA and TA but not in detail. Those days, I did not manage to find a good TA book and the only one that I do have was lousy. So, I gave up finding and picked up my TA knowledge from online which involved hours and hours of searching,reading and filtering. I believe having a good TA book is the right way to learn and my way may not be the right way.

Matrix would be a good person to advise you on this.

If others have any good TA book, would appreciate if you could share it with wtclau and us.

p/s: no need to address me as Mr. We are all equal here.

ChunJui Lee - most of us, including myself, use ChartNexus. Unless you are looking for a software that gives you alerts, in which case you will need to buy and subscribe to softwares like Meta Stock (used by Matrix) and others, otherwise, ChartNexus suffices. As you know, with ChartNexus, the user need to work out for themselves the support & resistance but it does have features for fibonacci work, setting changes for indicators and stuff like that. Don't know what TA level you are at, but it would help if you have a good TA book to start with or to reference on.

cherry tomato - you are absolutely right. Try mixing TA+FA. FA helps you identify good companies and TA helps you to time your entry and exit. I used to trade with FA alone and ended up holding for a long time and with limited funds, capital is tied up. I suppose we are quite fortunate that Matrix unselfishly started this thread.

John Wong - SBCCORP:

Earlier analysis by SF and my additional comments as at 30/4:

SBCCORP (by SF)- The price is quite volatile now. The support at 2.14 is very easy to break, if further sell down it may test 2.01 and 1.87. The market is driven by fear and greed. So like Matrix always say, we need to be discipline to every trade and plan before we enter into a trade (when to cut loss and when to take profit).

Just to add to SF, from my interpretation, I believe it is now undergoing wave 4 which is a corrective wave, which means you can expect some more retracement bringing the price down. Only after this comes the upward wave which you can expect price to move up.

Update analysis on 11/5:

It did broke the support at 2.14, trended down to a low of 2.12, tested and found support at 2.06. The doji with 2 subsequent inverted hammers underpinned by decreasing volumes pre-empts a potential price shift with decreasing selling pressures. Please note that this is not a buy signal. It needs to take out the resistance at 2.26/2.27 and in the process will also take out the engulfing bear on 5/5 to signal the start of wave 5, the last bullish phase on the Elliot wave. Immediate support is now at 2.06. If you are bottom fishing, please set your stop loss price in case the trade turns against you.

Update analysis:

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

connie - it would be a pleasure and a privilege to do that!

connie - thinking of me, huh. No wonder my ear was itching the whole morning. You making fun of me again. Thanks for the song. Will listen to it tonight when I can blast it out through my headphones.

connie - good afternoon. I like yr analysis.

Joyous - KTB: for the time being, yes.

Joyous - KTB:

0.24 is supposed to be a strong support. It was sold down to 0.24 but buyers came out and bid the price higher to close at 0.245. Which means, for the time being 0.24 is a good support level. If it falls below 0.24, high chance that it will trend down to 0.205. Should this level of support be further broken, the counter will now be in a bearish phase, a phase we want to avoid trading in.

azrylamyr - LBAlum:

Analysis dated 12/5 done for Hitman:

LBAlum - Broke out with volume on 17/4 and attained an unsustainable high of 0.815 on 18/4. It has since consolidated. It is currently trending up since the tweezer bottom formed on 5 & 6/4, a bullish reversal indication.

Immediate support = 0.63. If it fails to hold, it should find strong support at 0.615. Based on the readings, 0.63 seems to be a strong support.

Immediate resistance = 0.78 with a major resistance at 0.815. If the bullish trend is successful, it carries a TP1 of 0.75 and TP2 of 0.83. (Note: TP is just a guide)

Update analysis:
Consolidating. Immediate resistance is now at 0.745 while the immediate support is at 0.68.

gerry188 - Can't say I am very advanced because I do not really read sub-waves and frankly, sometimes I too find it confusing. As you may be aware, the thread "chrissyconn" trades wave and there are some very good wave readers there like skyhawk, ct, connie and others.

Gerry188 - very good point. As you may be probably aware, sometimes when new data surfaced, they may call for a recount. Yes, to my interpretation, wave 1 is an extended wave. Different wave readers can have different interpretations. If you are trading based solely on waves, then the sub-waves becomes critical.

Danke - MPay:

The bullish engulfing pattern on 6/5 is a significant bullish reversal indication. After a series of consolidation, it formed another bullish engulfing pattern on 14/5 and could be poised to trend higher. Need to clear its immediate resistance at 0.30 convincingly to test its next resistance level at 0.34 before attempting to take out the evening star formation of 25/4. Immediate support is 0.265 while it should find major support at 0.22/0.225.

If it can take out the 2 resistance level convincingly, the bullish engulfing pattern of 14/5 would mark the end of wave 2 on the Elliot and it would now embark on wave 3, the bullish phase.

Novice8 - Benalec:

Successfully broke out from its rectangle trading range when it cleared the 0.95 resistance convincingly on 12/5 and today it broke out with volume. The next 2 levels of resistance are 1.14 and 1.19 respectively.

Can't advise you to hold or sell as you will have to assess your risk reward ratio. There are many options bearing in mind that the counter have just started on its bullish trend. Whether you bought it higher or lower than the current trading price, do adjust your trailing stop price whether to protect capital or profits.

Danke - PJDev-WC:

Usually, technical readings for warrants are not very meaningful because its movements are inter-dependent on its mother share. Warrants may move ahead of its mother share in anticipation of the latter going up or down.

So, I usually look to the mother share for guidance on the warrant. In this case, PJDev is facing resistance to clear 1.58. Major resistance is at 1.63. It needs to take out these 2 resistance in turn to scale higher. If it does, then the warrant would follow suit. If not, they could be trading range bound.

Matrix - welcome back. Have a good rest.

Danke - KTB:

Matrix did the following analysis on 8/5 for Joyous:

As stated in my earlier post and chart reading for KTB, it is at the bullish stage 2 cycle. Any consolidation should find immediate support at $0.255, if fail to hold next Gap support is at $0.24/$0.235. For KTB to scale higher to continue its stage 2 upward movement, it must break above $0.32 with volume.
KTB has a very important support at $0.205 ( IF it is tested) and it is also a neck line support of a possible “Double Top” formation which has Bearish implication. ( Try to draw a horizontal Line at $0.205 and you can see double tops at $0.32 and $0.31. What does it mean ? It meant KTB actually enter stage 3 of the cycle after hitting high of $0.32 and if that support of $0.205 is broken it begins stage 4 of the cycle which is to be avoided at all cost.

Update analysis:
It is now testing the gap support at 0.24/0.235 which it did today when it touched 0.24 and closed at 0.245.

davidlim07 - MRCB:

Broke out from its downtrend line on 7/1 to commence a bullish phase. Currently consolidating between 1.55 and 1.59. It did form a bullish marubozu on 9/5 to "weakly" signal a potential bullish reversal as it was formed on lower volumes than the prior day's bearish marubozu.

A break of its immediate resistance at 1.59, will see it re-test the major resistance level at 1.67/1.68. Immediate support is at 1.55 while support 2 is at 1.52.

winwinborn - sorry the late response.

Luxchem:
Bullish. Found strong support at 1.42. It issued a buy signal on 12/5 when it took out its major resistance at 1.48 with volume. For the bullish trend to remain valid, it needs to stay above 1.48 and it will be scaling new highs if the trend persist. Immediate support = 1.42. TP1 = 1.55 ; TP2 = 1.63.

yoda88 - yes, there is a divergence in the Price/AccDist. Seems to be forming a support base at 1.50. Need to overcome the strong resistance level at 1.58. Riding on the bullish Elliot wave 3.

Thanks for the highlight.

Karyon - forgot to add this. The cost of the warrant conversion I believe could have been around 0.31 (correct me if I am wrong) plus minus a few sens. So, any price range higher then this, the holders might want to lock in profits first when it trends down. This could be one of the factors but this is just my guess.

richcares - Karyon:

Bearish after the series of dojis from 18/4 to 22/4 culminated with a gravestone doji on 23/4, a significant bearish reversal indication. It is now in a correction phase. Has broken through its major support at 0.42 and is now testing its next support level at 0.38, failing which will see it trend down to the next support level at 0.35.

Immediate resistance is 0.42. 2nd resistance level is at 0.45/0.455.

FA wise, the company has a healthy set of financials with annual dividend payouts. Can't pinpoint to you the reason for the drop but the price did hit an all time high of 0.48 and it is normal for profit taking to set in as well as some panic selling when its price movements slid down as it did. Possibly, the warrant conversions to ordinary shares in 2012 may have contributed to some extent due to the enlarged shareholding base.

We will not know the exact reasons but we can trade based on its technical signals.

connie - bonus pink floyd. Different version of their hit song with cool drumming skills:

http://youtu.be/vjZnkS9aT94

Connie - Hey You, another pink floyd for yr listening pleasure:

http://youtu.be/DEDjF2tLbhk

connie - heh, don't get yrself suspended. Do you know how many guys and gals here will feel sad if you do? I will not be able to sleep, eat, trade, work, and ... oops, sorry, got carried away!

winwinborn - Bornoil: based on my interpretation on the Elliot count, it is in the correction phase. Shall let Matrix comment further since he has been trading it and has a deeper analysis of it.

kheng/winwinborn - thank you for your nice words. We hope to cultivate a trading culture based on analysis and we hope you will pick up TA along the way and in turn be in a position to contribute and help out other newbies as well.

etal - thanks for the book highlight.

Hitman:

LBAlum - Broke out with volume on 16/4 and attained an unsustainable high of 0.815 on 18/4. It has since consolidated. It is currently trending up since the tweezer bottom formed on 5 & 6/4, a bullish reversal indication.

Immediate support = 0.63. If it fails to hold, it should find strong support at 0.615. Based on the readings, 0.63 seems to be a strong support.

Immediate resistance = 0.78 with a major resistance at 0.815. If the bullish trend is successful, it carries a TP1 of 0.75 and TP2 of 0.83. (Note: TP is just a guide)

Matrix - a sincere thank you for organizing and paying for the dinner last night. It was great to meet up with you personally together with the other forum members and the exchange of trading ideas and experiences were most useful and enriching. Nothing beats hearing from the man himself, i.e, you. Really appreciate your genuine and sincere intentions in getting us to trade the right way and sharing your knowledge with us.

trader96 - SBCCORP:

Earlier analysis by SF and my additional comments as at 30/4:
SBCCORP (by SF)- The price is quite volatile now. The support at 2.14 is very easy to break, if further sell down it may test 2.01 and 1.87. The market is driven by fear and greed. So like Matrix always say, we need to be discipline to every trade and plan before we enter into a trade (when to cut loss and when to take profit).

Just to add to SF, from my interpretation, I believe it is now undergoing wave 4 which is a corrective wave, which means you can expect some more retracement bringing the price down. Only after this comes the upward wave which you can expect price to move up.

Update analysis:
It did broke the support at 2.14, trended down to a low of 2.12, tested and found support at 2.06. The doji with 2 subsequent inverted hammers underpinned by decreasing volumes pre-empts a potential price shift with decreasing selling pressures. Please note that this is not a buy signal. It needs to take out the resistance at 2.26/2.27 and in the process will also take out the engulfing bear on 5/5 to signal the start of wave 5, the last bullish phase on the Elliot wave. Immediate support is now at 2.06. If you are bottom fishing, please set your stop loss price in case the trade turns against you.

Connie & all mums - Happy "Celebrity", i.e. Mother's, Day.

connie - yeah, too many Jap candlestick and no Jap gals!

connie - sorry lah. Cannot resist poking fun at you. You see, you are the favourite gal of everyone here. The celebrity!

But I kinda like skyhawk's idea - private jet to Paris. Oooops, sorry.

connie - ..ha ha ha.... but CT just said yr profits is now RM64.5K. Dinner now shifted to Paris. ha ha ha...

Connie - thats fabulous. RM52K! Can buy me dinner in Hong Kong now!

connie - gee, I am blushing all over. Good, got free meals now.

connie - congrats on silk. dinner & supper on you.

connie - ok. will try harder. Next round you should come.

connie - come to think of it, Hitman sounds macho. psst, Mat's dinner sounds yummy. But you know, I always try to pop by here. May will be fab month for both of us. And, you are already a celebrity. At the very least, you are my celebrity. By the way, am monitoring Silk and Insas for re-entry.

ZenZenD - you are spot on. You have come to the right place. These people here are good and helpful.

connie - still here. Yeah, a bit free at the moment. No choice, sometimes got to hit and run. Sounds like a hitman, huh? Rather busy these couple of weeks so much so that I did not have time to monitor my shares. So, April was a lousy month for me.

hi connie. I want a very warm welcome too. Ha ha ha.....

Dino Limo - It is always a good thing to lock in profits when it hits your target price. Do remember, usually, you will never be able to sell at the highest price and neither will you be able to buy at the lowest price.