Spring - Silkhld: After peaking on 5/2 at 0.78, it turned bearish. But the bearish undertone has subsided and is now trading sideways along a channel with the upper channel forming a resistance at 0.65 and the lower channel support line at 0.59. A break below the support line will see it trending back to 0.55. It needs to break its major resistance price of 0.67 with volume before it can scale higher.

Joyous - sorry, I can analyse the chart but I can't tell you if you can still buy at the current price. You will have to make that decision yourself based on your own risk appetite, your risk profile and your investment strategy, be it long term or short term investment. Good luck. I have taken position on Friday at 1.21.

Joyous - Insas: the consolidation is over when it broke out with a gap up on 24/3 with volume to set the support price at 0.95. There was a pause in the uptrend due to profit taking and contra players but selling pressures were well absorbed and will be resuming its uptrend. The trend remains very bullish and will be testing new highs.

Immediate support is 1.13. TP1 = 1.35, TP2 = 1.40 & TP3 = 1.70.

Joyous - hi and welcome. Matrix is on holiday now but he does post when he has the chance. Matrix is very good in TA and also very helpful. Most of us benefit from his analysis and I am sure you will benefit too.

catch you nice people later.

sephi - you're welcome.

connie - hardly got time for golf too. Ha ha ha. I like your rhyming sentence.

connie - no problem, my lady. Sounds delicious!

connie - yesterday very busy. Any big profits today to buy me dinner?

sephi - sorry for this late response. Connie is right on MMode. Rather bearish with immediate support at 0.475. If broken, could go down to 0.425. It has retraced slightly more than 78%. You're right, pretty oversold. Could be bottoming out, subject to confirmation. More margaritas on the way for you!

Good morning everyone.

Connie/Sephi - interesting. margarita?

Matrix - glad you checked in. Happy to help out. Have not visited Korea as a tourist but it does sounds nice. Have made 1 business trip there before and really liked their food. Continue to enjoy yr trip. Will try to join you guys after yr China trip. Thanks.

deedee - WTK is different in that it formed a bearish engulfing candle and declined on pretty high volumes above its average volume. If you are looking for entry points, you might want to wait for reversal.

bullrun88 - VIS: trading in a ascending triangle formation, a bullish pattern. It will resume its uptrend if it breaks out from the resistance line of the triangle at 0.745 with volume. Immediate support is 0.72, if broken, will retrace to 0.69/0.70. Upon breakout, TP1 will be 0.785.

FA wise, please note that VIS made losses in 2013 and has a negative cash flow.

htyeap125 - thanks for sharing the info. Shale oil will impact the O&G sector. Question is when. I think the full impact will only be felt in the medium to long term and there are a lot of factors in consideration. One of the consideration is governments'resolve and commitment to switch to shale oil especially oil producing countries. Also, it depends on how O&G companies adapt and transform to the new environment or maybe they may want to play a role in the supply chain of shale oil production.

Minimal impact in the short term but definitely will be impacted in the medium to long term.

connie - great question. No, it would not give us a false impression because we will be analyzing that particular candle and its corresponding volume within the context of the preceding and succeeding candles. Which means, I would wait for the following day's pattern to confirm if a breakout is on before trading.

In one counter that I was analyzing recently, there was such an occurrence. The price closed 2 ticks higher on 1 lot with most of the volume traded at lower prices.

By the way, as far as I am concerned, there is no such thing as a silly question. I hope I made sense. Nightie night.

novice8 - my TP1 is 1.95 and TP2 is 2.00 and TP3 is 2.17. Just a friendly reminder that TP is only a guide. Be cautious. I quite agree with twobits. The correction may not be over and could go through a technical rebound. Do set a profit protection exit price.

connie - ha ha ha! You came up with a new combo - Steak and Whisky - sounds interesting.

tccher - sorry for this late response. Alam is in a bearish mode with an immediate resistance of 1.42. There is dark cloud candle formation hanging over it with a major resistance at 1.53. It has broken through its support price of 1.37, and if it can't sustain at this price level, it can trend down to 1.30, the next support level. Hope this helps.

jacky187 - for TP, I use Fibonacci Extensions. TP is only a guide and most of the times, we may end up selling slightly above or below TP.

sunnyeoh - an excellent question. Usually I use the average volume as a guide. To me, it should be at least 1.5 to 2 times the average volume on uptrend to sustain the upward momentum. On breakout, it needs to be at least 3 times and more. The issue of volume does not apply to counters with a low share base in public hands like DKSH.

connie - ghl looks promising but need consistent high volume to sustain the uptrend. It broke out of the triangle's resistance line convincingly with volume and closed above it. Its support price is now at 0.81 with resistance at 0.915. Certainly looks bullish but losing a bit of momentum for the time being. Good luck on it. Remember to belanja me S&W when you lock in profits.

jacky187/ twobits - thanks for highlighting Hevea. Will look at it.

Connie - glad you like. Are you not in ghl?

Dear all - good morning and have profitable day ahead.

connie - mornie morning! Make big bucks on Insas, huh? Happy for you.

novice8 - welcome on board. Engtex sometimes can go into hibernation and then breakout, so patience will be needed. Padini should be exciting to trade. Good luck.

sf - you are absolutely right on Padini. Normally, we do not "catch a falling knife" especially with the 3 black crow candle formation. I usually wait for confirmation that the price has stabilized on low volume and enter upon reversal. But Padini is a bit different.

It has retraced 61.8% from the breakout price on 27/2 on relatively low volume compared to its average volume traded. Most likely due to contra players and panic sell by punters. Strong Support price at 1.81. No fundamental change in the company. And as you too observed, there were strong buying interest from 1.82 to 1.85 levels which means the selling pressure has eased significantly. Also, the intrinsic value of the share is 2.30 (by kcchongnz)and at 1.84, I will be trading at a safety margin of 20%, not very high but sufficient for a trader like me.

Padini may still retrace further and I will probably accumulate more if it retrace to its support price of 1.80/1.81. Setting stop loss price is absolutely crucial here.

Matrix - just collected some Padini too at 1.84. Panic selling momentum seems to have slowed. Lets see how it pans out.

Have a safe and pleasant flight and have an enjoyable trip. Check in here when you have access to Wifi.

connie - congrats on yr Insas profits. I shall cash in on yr S&W today. Am monitoring Padini to entry.

SF - congrats on your Insas profits. Always a good thing to have profits no matter how much it is.

Matrix - yes, greed is one of the key emotion that all investors need to conquer. I accumulated some Engtex WA today too sensing Engtex could be on the rebound.

twobits - good to see everyone profiting and in buoyant mood.

connie - i will take you up on that S&W. I did a day trade on Insas today and locked in profits when it hit 1.18. So, I will buy you a beer with sandwich today.

connie - locked in any profits today to buy me a good meal?

Matrix - too bad these kind of trades don't happen very often. Cngrats on yr Redtone profits. Admire yr Slow and steady way of locking in profits.

I am also eyeing Padini and yes, a big pull back.

matrix - went in for a day trade on Insas when it broke out. Managed to buy at 0.98 and locked in profits at 1.18.

matrix - wish you a good enjoyable trip to Jeju Island.

Just to add to SF analysis:

ILB - formed a dark cloud on 27/2 which it need to clear. Strong support at 0.705/0.71. It is attempting to clear the immediate resistance of 0.775 on low volume. In order to stay above 0.775 convincingly, it needs to trade at a high volume before it can test the next resistance level of 0.835.

Nylex - Agree with SF on the dark cloud formed on 21/3 although it is on a bullish trend. Will need the confirmation candle on the next trading day to determine if the bullish trend is intact or if there will be a retracement. The gap up price on 11/3 of 0.58 is now the support price. If you are trading this counter, you may want to set your stop loss price at 0.57. TP1 is 0.68 and TP2 is 0.75.

Lonbisc - bullish 3 white soldiers formation, i.e. bullish trend. Support price is at 0.70/0.71. Immediate resistance = 0.79. Calculated TP1 is 0.88 and TP2 is 0.99. Caution: early signs of a Price/RSI divergence, subject to confirmation, which could mean a potential price retracement.

connie - can sleep with a smile after Liverpool won by scalping misai. We both share the same dislike. Homeriz and L&G are fundamentally sound companies. So, holding them is not a high risk. I was trading L&G but locked in profits when it hit the 0.60+ level. Yeah, its good to look back to analyze. I do it all the time. Nightie night. Watching Man Utd vs West Ham now.

sunnyeoh - i am not a sophisticated wine drinker but as long as it suits my palate, I will go for it. For red wine, I prefer the cabernet sauvignons and white wine is usually the chardonnays.

You are very familiar with Europe.

connie - sure, I would be more than willing to share any knowledge with you that is within my capability. Usually, I look for reversal and then wait for confirmation of reversal and confirmation of increasing volume before going in. So, I would say upon breakout. I never get to buy at the lowest but its ok for me because I know I will have a shorter trading cycle.

But if it is a counter that I have been trading many rounds in and out when I am pretty familiar with its price movement, I will take position at the strong support level, usually in the consolidation phase and upon breakout, scale in more but at a lower quantity than at support level.

Sometimes, I can be caught with a false breakout and my stop loss price will take care of that.

Latitude is very sound fundamentally and TA wise is primed for an uptrend but still need volume for a sustained bullish trend.

sunnyeoh - i fancy red wine more but I do appreciate any good white wine. I will note down that Austrian wine that you mentioned.

connie - yes I am impressed. No play play! Does not matter if it is correct or not but the line of reasoning is good.

Switzerland sounds great. I assume it is a 2 weeks tour and you travel on yr own without a tour guide?

Sunnyeoh - really? I did not know Austrian white wine is good. Thanks for highlighting it. Then, connie, you better bring some back for us to enjoy!

connie - i am really impressed with your logical deduction. I really am. Heh, I see that you are going for a holiday in Europe. Great stuff.

connie - sandwich is one my favorite. So, S&M for dinner. Oh, I meant Seafood & Margarita! Ha ha ha... By the way, sorry, you are not a TA beginner. You are on yr way to sifu level especially with yr waves!

Have accumulated some more Rsawit at 0.83 at as I believe the support level at 0.83 is holding well.

Connie - yes, please enlighten me on S&M. My lunch is a simple rice with 1 vege and 1 meat, and fortunately, all home cooked.

I am humbled by your kind words. Reasons for not posting here are 2 fold:
1. Most of you guys here are already very good in investing. In fact, I learn from them too.
2. Most trade with Elliot, so, may be a bit out of place.

But the main reason is the 1st one. Most on Matrix thread are beginners on TA so, I hope I can impart whatever little that I know, to be, hopefully, of use to them. Yr home here is now one of my favorite thread.

Yeah, actually I am fascinated with historical sites like castles and other archaeological sites. I do wish I am a white knight but must be surrounded by lots of pretty dames. One dame to feed me grapes, one to massage me, one to ...hmmmm.... getting interesting.... Nice to dream once in a while.

Don't forget to belanja me when you make profits today.

Connie - good afternoon. Whats for lunch? Are you still tracking Silk?

novice8 - you are welcome. If you keep at it, very soon I am sure you will be very good at TA.

SF - Thanks.

Matrix - Cypark: was that a bullish tweezer bottom formation on 3/3 & 4/3?

matrix - thanks. Appreciate yr input.