tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Morning

tsy, there may not be a storm. Historically, Fed rate hikes have been met with a positive reaction in the Dow. Moreover, yes, it should have been factored in. In any case, should be green green day. ...hehehe....

mslee81, you are most welcome

westgun, current sentiment still weak due to the prevailing fear and uncertainties. I believe KLCI is due for a technical rebound as market is oversold and window dressing to some extent.

Yah, all are waiting for the hike although i dont think anything major will happen due to the hike. I would prefer they do the hike now and get it out of the way. I am more concern of a global slowdown, oil price and the US high yield bonds market.

Hi Westgun, hope you have an enjoyable lunch.

mslee81, no not in downward trend. It will only show weakness if support at 0.775 is broken down. If you are very risk averse, monitor the 0.80 support too. 0.775 is the stronger support.

mslee81,
Seacera: Is under consolidation. It was weak yesterday due to the weak market sentiment but it needs to crack the 0.86 resistance which it was unable to do despite the high volume of 11/12. It will re-attempt again. Support is at 0.775.

Allwin, you are most welcome.

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Morning

tsy, ariff, welcome. Hope everyone has a profitable day today. Could be looking green.

AllWin,
The next CI support is at 1621 while it should have good support further back at 1600 should the market weakens further.

The big Dow drop of Friday will have an impact on KLCI. As expected, we saw panic selling this morning with jitters all over the market which is normal. On the same breath, I do see trading opportunities in good stocks.

The Fed rate hike has been a long time coming and the Fed has been priming and conditioning the market for it for months now. So, I don't expect any further major market reaction to the hike and I do believe it has been more or less factored into the Dow.

In my opinion, the big Dow drop last Friday was the result of a combination of factors. Besides the rate hike, there were concerns the depressed commodity prices signals further economic weakness to come with China as the key focus. There were also concerns with the health of the high yield bonds market in the US when 2 junk bond funds stopped withdrawals. So, all these culminate in the 300 pts drop.

There were also concerns over the long term rate hike plan of the Fed which i think is unfounded. The Fed has been very cautious in raising rates and I would expect further hikes to be in small doses. On the positive side, the rate hike is also testimony to the strengthening US economy which could offset or at least cushion any slowdown in the world economies.

Back to our KLCI, I would expect our index to dip during the early part of the week due to the prevailing jitters and fear gripping investors. We may probably see a technical rebound as the week progresses and I do believe window dressing will play its part too. KLCI is heavily oversold. We may see bargain hunting emerging in good selected stocks.

As always, please adhere to your trading plan and cut loss if it hits your Stop Loss price. Sometimes we can be wrong in our assessment of the stock or market. We accept it and move on.

Please trade cautiously and happy trading!

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Posted by AllWin > Dec 12, 2015 09:59 AM

Good morning Profitman,
Our index break support level 1645 and djia hit badly on Friday. What will be the next CI support ? Do you see this will trigger more stocks sell down ahead of fed rate hike or you think market has factored in ?

Have a great weekend !!

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Morning

tsy, you are welcome

Dunknow, Good morning

YellowBanana, you are most welcome.

tsy,
Eita: in consolidation while uptrend remains valid. Immediate support is at 1.40. It has broken out on 26/11. It could move again after T+4 and need to overcome 1.59 resistance. Stop loss if 1.40 is violated or trail stop whichever is applicable.

tsy,
FFHB: Under consolidation with the emergence of a new strong support at 0.685 while its support base at 0.66 remains intact. Considering the high selling pressure on 10/12, the stock has held on well. It is a healthy consolidation as traders who bought before its QR release were selling after the "news" were out.

Immediate resistance is now at 0.745. As the results of its recent impressive QR is digested, buying interest should re-surface. It is embarking on a bullish wave. Cut loss if 0.685 is violated or set your trailing stop if you are riding on profits.

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Morning

Ariff, you are most welcome.

tsy, thanks for your kind words. Oil price could be in the final leg of correction. I suspect that the latest round of oil price correction currently in progress could be the final correction before it stabilizes, fluctuates and depending on the future prevailing macro climate, bounce off whatever price it has bottomed out. Just my assessment.

We wish everyone a profitable day ahead.

westgun, thanks. You too.

ariff7996, as far as I can see, there is no foreseeable event that can bring the KLCI down further next week unless the Mr Putin does something out of this world in Russia's ongoing feud with Turkey. Most of the bad news are already out in the open. A Fed rate hike is pretty much a certainty and this would have probably been factored into the Dow already which leaves little impact on KLCI. Oil price is already below 40 and we may see more downside. China is slowing down which we are already well aware. So, most of these factors have been priced into the market or are being priced into the market.

Judging from our KLCI, i would not be surprise to see a rebound next week. Probably the only factor holding back most investors is the weak overall market sentiment and the fear of an economic bust. And we can't discount some window dressing in December.

Allwin, you are most welcome.

mimi898,
Microlink: Technical rebounded and is now consolidating. Resistance is at 1.37 with a support level at 1.27. Will be bullish if it can successfully take out 1.46 with volume.

YellowBanana,
Armada: Trading under the bearish harami of 27/11 that signaled a correction. It has strong support at 1.00/1.01. Resistance at 1.10. Looks bearish at the moment and it has temporarily broken down from its uptrend line but the selling momentum is not high. Could be trading sideways. Armada is affected by the oil price.

AllWin,
Komark: Could have bottomed out at 0.465. Being in a grossly oversold position, it staged a technical rebound on 9/12. Immediate resistance is now at 0.56 with a major resistance at 0.62.

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Afternoon

...hahaha... Jasonor ... good one. Anyway Red Sena is not doing too well on debut.

tsy, I don't expect any major drop in KLCI unless there is another external shock from somewhere. It will be sideways although it is edging towards its next support at around 1645.

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Morning

Happy trading and we wish you a profitable day.

tsy, another dip triggered by low commodity prices. KLCI have started in red this morning but trending stocks could continue with its trend although any increase could be capped by the weak market sentiment unless there is a change in sentiment as the session progresses.

8wpwtmt8, Genetec has broken out on 27/11 with volume to hit a new high at 0.315. Immediate support is at 0.29. Its TPs are 0.32, 0.36, and 0.41. It may consolidate first before re-testing the 0.315 resistance.

While the entry of investors like Mr Koon YY is a strong vote of confidence in the future of the company, do note that these value investors have a longer investment time line than most traders. The full realization of the stock's value may not be immediate.

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Posted by 8wpwtmt8 > Dec 7, 2015 08:55 PM

Dear ProfitMan, Mr Koon Yew Yin has bought a lot of Genetec. Based of TA, is it on a breakout to new high? If yes, what it the target price?

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Morning.

tsy, lots of rollercoaster rides on the Dow these days. Earlier, the Dow had a jolt from ECB's moves or more like a lack of positive moves, then boosted by the US job market before oil prices sends it tumbling again.

KLCI reacted negatively this morning but I believe as the day progresses, we may yet see a rebound in the market. World markets are quite sensitive to news these days.

Any dips in the market maybe an opportunistic time to collect trending stocks for intra day traders.

Have fun in the market and remember, the Trend is your Friend! Hope everyone has another profitable day in the market.

mimi898,

DUFU: Although its uptrend is intact, it formed a bearish harami cross today with strong resistance and support at 0.44 and 0.41 respectively. It signals a potential correction could be on the way.

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Posted by mimi898 > Dec 4, 2015 02:22 PM
can anyone share dufu states! TQ

swift, very happy to hear that. I hope I have helped in a small way.

8wpwtmt8, you are most welcome.

8wpwtmt8, on Instaco, at the moment it is having strong support at 0.265. This is the gap support. If this gap support is closed, further weakness could creep into this stock and you will need to monitor the next support levels at 0.255 and 0.235.

swift, from a strictly TA perspective, I can see that Instaco is facing a stiff resistance at 0.34. It has been consolidating side ways and range bound. There was probably some panic selling today which is not surprising considering that the stock is in overbought position. It attempted to close the gap support of 0.265/0.285 but the support at 0.285 proved fairly resilient so far. There is some accumulation in the stock today although we cannot discount further weakness in the stock.

Traders may want to consider cutting loss or trailing stop whichever the case maybe, should the gap support of 0.265/0.285 be broken down. However, if 0.285 holds, then it could be a healthy consolidation. From the looks of it, it may correct further before trending up again.

westgun,
IFCAMSC:
Ifcam is currently consolidating within a pennant where a breakout from 1.03 would see it re-test its strong resistance at 1.06. A further break in 1.06 will see it trending bullishly. It currently has good immediate support at 0.985. Strong support is at 0.95. In all likelihood, Ifcam could be poised to scale higher once its consolidation phase ends.

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Posted by westgun > Dec 2, 2015 05:28 PM

Hi Profitman..... mind to help check on the IFCAMSC status... is going down more before it push back ???

Dunknow, nice. Thx.

Connie, yeah, HELLO, i like that song. Thanks so much. Appreciate it.

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Afternoon

Dunknow, you are most welcome. Nice translation ..hahaha...

bglim,
TMCLife: Found support at 0.625/0.63. It needs to break 0.69/0.70 to be bullish again. May consolidate sideways in the short term if this resistance cannot be taken out. It has now moved out of its oversold position but in the correction phase.

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Posted by bglim > Dec 1, 2015 07:18 PM

Hi Profitman,
Can kindly provide your view of TMCLIFE chart. Thanks you.

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Morning.

duit, bro good to hear from you. Better reply you first before i forget ..hehehe....

QL, has broken its 4.25 resistance and hit a high of 4.40. It potentially formed a hanging man today, a warning of a potential trend reversal. Support can be found at 4.30/4.31. It may consolidate down before attempting a run at 4.40. Its bullish uptrend remains intact.

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Posted by duitkwspkita > Dec 1, 2015 05:09 PM
Profitman,

Could you please check QL when you free? Thanks. No rush. Mang Mang Lai!

Appreciate in advance.

jasonor,
Cheewah:
Has broken out on 23/11 with volume. It was subjected to profit taking as is normal with a volume spike hitting a high of 1.50. Strong support is located at 1.25. T+4 would be a good day to test the resilience of its uptrend bias. If 1.25 remains intact, it could be poised to re-test 1.50 resistance before moving into uncharted territory.


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Posted by jasonor > Dec 1, 2015 04:46 PM

Profitman, can take a look at Cheewah? last 2 QR is good. thanks.

jasonor,

Liihen:
Its uptrend is still intact. Major support during this phase of the consolidation is at 2.70. Major resistance is at 3.03. It formed a bullish harami today and could resume its uptrend. I believe it came under profit taking activities which may be a healthy sign.

No stocks trends up in a straight line anyway. They always take a breather with a consolidation phase in between. As long as its major support is not broken, these consolidations are healthy in order for the stock to trend higher.

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Posted by jasonor > Nov 27, 2015 03:41 PM

Good afternoon profitman, tsy88, Dunknow, ariff, Allwin, n all TCB sifus here :)

Profitman, can take a look at liihen? the QR is good. but the price keep dropping. is it being sold down just because of weak USD/MYR or other factors tht i'm not aware of? what are the major support n resistance for liihen.? thx

Dunknow, Kimhin: Its consolidation may be over and could have bottomed out at 2.17. Formed a bullish harami today and breaking 2.28 resistance will trend it towards 2.46. Support at 2.17 must not be broken in order to trend higher.

inwest, Instaco is consolidating in a flag with a support at 0.30 and a resistance at 0.34. There is some distribution in the stock but its support levels are holding well. It may consolidate sideways before attempting to break 0.34.

Yes, I agree with you. Selling pressures are well absorbed. It should resume its uptrend as long as 0.30 holds. Glad you are still riding a winning stock.

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Afternoon.

Dunknow, i believe there were panic selling in the morning due in large part to the reaction to the geo-political situation. For me, as long as the stocks we own is still fundamentally sound and not in grossly oversold position, we just trade according to our plan. The current selling pressure could be an opportunity to collect some stocks. In fact, i have been accumulating some stocks.

twobits, ...hahaha... that is great bro. This is an unselfish kepo which is most welcome ..hahaha... Many thanks for sharing that.

twobits, shhhh.... yes i am ...hahaha....

Connie, ...hahaha...good one.

nickfcng, Rexit is under correction. Broke an important support at 0.65 and is now testing its next support at 0.60/0.605. Selling may not be over. If broken, will trend towards 0.535. Immediate resistance is 0.65.

tsy, Dunknow, ariff, jasonor, inwest, connie, duit, westgun, AllWin, jasonor and All, Good Morning.

tsy, sorry I think I missed out your question. Yes, the high volume on the small cap shares will have an impact especially those that do not have strong fundamentals. It will be sold down on profit taking or on any shocks to the market. But do monitor these stocks to see if they are in oversold position. If they are not, any drop may be temporary but if they are, it is best to take the conservative stance of locking in profits first.

Dunknow, yes you are right. No prob.

Dunknow, Chinwel will come under the effect but it could be a healthy consolidation. It underwent selling pressure yesterday but its immediate support at 1.64 remains intact. Judging by the past 2 trading sessions, the effect could be minimal and any selling pressure could be well absorbed.