madhas - Abric:

We cannot advise you whether you can buy into Abric or not. You will have to make your own decision after weighing the risk and benefits based on all the information that you have on the company and its PN16 status. As you may be aware, a PN16 company will need to regularize itself in accordance with Bursa's requirement. At the same time, a takeover can be a catalyst to its future growth and you will also need to take into account the reliability of the takeover news.

Its immediate support is now at 0.615 and will face strong resistance at 0.725/0.73. Hope this helps.

Gji Gan - Silk:

Bullish on wave 3. It has broken out from its flag formation on 18/7 where is has been consolidating. Support 1 = 1.10 ; Support 2 = 1.04. Resistance 1 = 1.19. If it clears 1.19 with volume, it could scale higher to its TP of 1.24. You may want to consider a stop loss price at 1.08.

novice8 - Ipmuda:

Under consolidation since it hit a high of 1.60 on 9/7 after the gap up on 3/7. Immediate support is at 1.34 with further support at 1.21. Resistance going forward will be encountered at 1.48 and 1.60.

Nana88 - Instaco:

Downtrend in a falling wedge pattern. Resistance is at 0.225 while the support is at 0.21. This pattern may have a bullish bias but it must break its resistance with high volume. In the meantime, you can expect it to trade within a rectangle within the 2 aforementioned resistance and support levels. If you intend to bottom fish, you may want to set a stop loss price at 0.20.

tsy88 - we did not left out KSL. Just that there was a delay in KSL reading. Sorry about that.

angie80 - WTK:

Broken the support line of the symmetrical triangle. It was further sold down on high volume on 21/7. Usually this is an indication of a bearish undertone. However, it would be best to monitor its price movement and volume in the coming days to confirm its direction as it is now trading after the ex-date of its dividend. It is normal for some sell down during the post dividend period. I did not look into the fundamentals of WTK, but if it is fundamentally sound, it will trade towards its value over time.

Its support levels now rest at 1.32 and 1.28 while its resistance rest at 1.40 and 1.44.

tsy88 - Nylex:

The TPs are 0.75, 0.80 and 0.86.

tsy88 - Nylex:

It is only a potential double top reversal pattern. Kindly note the term "potential". It needs to be confirmed by a decline off the 2nd peak that is accompanied with volume, a descend that is usually a quick one and it needs to break the support at 0.615 before we can declare it as a double top reversal pattern. However, judging from the chart, it looks bullish at the moment.
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Posted by tsy88 > Jul 20, 2014 09:37 AM | Report Abuse

DearTCB - re Nylex

Nylex registered a high of 74 on 28th April and also recently on 10th July. Does this point to a double top formation in the making and therefore prices are set to correct from this level going forward?

Connie - good morning, well, its morning here now. Hv lots of fun in yr trip. I agree with Topaz, you still post even on holiday. Great to hear from you.

aikwais - Press Metal:

Bullish on wave 3 and consolidated in a pennant for the past 2 weeks. On 18/7, it broke the resistance at 4.50 with volume that could signal a resumption of its bullish trend. Immediate support is 4.40. Should the upward run be sustained, it carries target prices of 4.82 and 5.14. However, it would be wise to monitor the next 2 trading sessions to confirm the run is valid supported by sufficiently high volume as there is a price/RSI bearish divergence that can have negative implications on the sustainability of the possible run up in price.

Bayam79 - EG:

Currently retracing after hitting a high of 0.94 under profit taking pressures. It is on a bearish mode. Thus far, it has retraced 50% since it broke out into the current bullish phase on 28/5. Further retracements can be expected as the selling pressure does not appear to have fully subsided. If indeed it retraces further, it will test its support at 0.685 and 0.62 respectively. Its immediate resistance rest at the gap resistance of 0.77/0.775.

sandho9 - when sentiments are down, its normal for investors to worry. However, it can also be an opportunity to buy on dips depending on how one looks at it. But whatever it is, its important to maintain discipline and follow your trading plan, reviewing your stop loss price and profit protection price. This would help eliminate a large part of your worry.

SAD DAY WITH ANOTHER MH TRAGEDY. ON BEHALF OF TCB, WE EXTEND OUR DEEPEST CONDOLENCES TO THE FAMILIES OF THE VICTIMS. MAY THEIR SOULS REST IN PEACE AND OUR THOUGHTS AND PRAYERS ARE FOR THEIR FAMILIES.

inwest88 - you are so right. Fun trades are fun especially when making money. Glad you good people are making money from fun trades.

cherry tomato - MMCCorp:

Your reading is correct. Although it does look bullish at the moment, I would probably suggest waiting for another 2-3 trading session to confirm that its upward momentum is intact. Immediate support is at 2.33 while resistance levels are at 2.51 and 2.60.

tpchuayap - L&G:

It has been fluctuating sideways in a rectangle trading pattern with a resistance at 0.585 and support at 0.54. It is unable to take out the 0.585 resistance convincingly and it has been subjected to profit taking today. The support at 0.54 is a strong support level. Need to clear 0.585 convincingly to scale higher to re-test the high of 0.625.

keshminder - Deleum:

Thanks for highlighting this stock. Sometimes good FA stocks require time to fulfill its value. There is no indication that it will move soon but there are some positive indications on this stock. The trading volume has increased over the past 1 month and there is a price/rsi bullish divergence in the short term. Potentially it could be poised for a run up. If you know its intrinsic value, it would give you a better perspective on the current value of the stock.

sandho9 - Cocoaland:

On a downtrend. Seems to have found temporary strong support at 1.98. Further support levels can be found at 1.95, 1.89 and 1.85. Immediate resistance is at 2.05 and 2.09/2.10. Would require a catalyst to propel its price up.

tjhldg - welcome and nice to see you here. Hope you have been making tons of profits from the market.

winwinborn - From my reading, Iris is now in the abc correction phase.


Posted by winwinborn > Jul 16, 2014 05:26 PM | Report Abuse
Hi Profitman,
Can help to look which wave for Iris now? Thanks

pathew - we are doing fine, thank you. Great to see you back.

Daya:

Bearish. Broke out from its rectangle trading on 8/7 when the support at 0.31 was broken with volume. Support is now at 0.27 and could find strong support at 0.255. Immediate resistance is at 0.31 and 0.355 respectively. It is currently well supported at 0.28.

inwest88/tsy88/nana88 - thanks for your kind words. I am a firm believer in freedom of speech and in TA, just like in everything else in life, there are always 2 sides to a coin. Some take a short term outlook while others a medium term outlook. So, it is really an issue of perspective with no one being right or wrong though.

Also thanks to people like you who continuously share your trading ideas. I am and still am totally impressed by your selection of stocks.

speakup - Thank you for sharing your opinion. We appreciate your comments. As we have always maintained, this is a thread that we do not only share TA readings but is also a forum for the exchange of ideas and information and constructive criticism with the sole common purpose of making money from the stock market.

As different people read and analyze TA differently, there can be differences in opinions and analysis. On Redtone, we agree with you. Based on the daily chart, there is a price/acc.dist vol divergence, indicative of some accumulation taking place in the market. However, this divergence is not reflected in its medium term outlook.

Thank you for your comments which we graciously accept with an open mind. Happy trading and we hope you have a very profitable week ahead.

Relax - HLCap:

Sorry we missed out your query. If the company does not have enough public spread, Bursa has the right to suspend its trading pending full compliance or HLCap can apply for a lower public spread. The next course of action is a matter that is between HLCap and Bursa to sort out.

lottolearn - EForce:

Bullish trend still intact. After hitting a high of 0.955. it has come under profit taking pressures. The formation of a hammer on 11/7 could potentially be a price reversal signal. Immediate support = 0.86, if broken should have strong support at 0.79 ; Immediate resistance = 0.955

We cannot predict if its price will drop or calculate the quantum of any drop, if any, after the ex-date.

novice8 - MBSB:

After a period of consolidation, it broke out from its immediate resistance of 2.22 on 4/7 when it also overcame its gap resistance of 2.23/2.24 with volume. The announcement of its potential merger with CIMB catalyzed its breakout on 11/7 with an abnormally high volume that is 9.8 times its 30d MA volume. Immediate support is now at 2.44 while immediate resistance is at 2.64. If its current bullish momentum is maintained, it should re-test its resistance levels at 2.83 and 2.89. Such a high trading volume could also invite profit taking activities in the coming trading sessions.

AhMoi - try ChartNexus. Its free. ...hahaha...

tsy8 - please allow us some more time to come back to you on Unisem. Thanks.

Ah Moi - You are right. During the initial period that falls within the SMA calculation, the data will be invalid. I don't know if you have access to both charts, i.e. one with adjusted historical data and another without the adjustment. If you have, you can use the SMA and other indicators on the former to give you a guide during this interim period.


Posted by AhMoi > Jul 11, 2014 11:31 AM | Report Abuse
Hi Profitman
If to start afresh, then I would think the SMA etc would similarly be screwed, as such, cannot be used just off the chart but have to be adjusted as well, right???

Ah Moi - very good question. I don't know about others, but from a TA perspective, I look at the chart from afresh after the rights issue. Rights issue dilutes EPS and DPS and investors will see the stock in a different light. So, it would be more meaningful when we look for support and resistance levels based on the ex-rights issue price. Those historical prices before the ex-date can be used as a point of reference.

Joyous - yes, Inari is still bullish.

Joyous - Inari:

The TPs are 3.33, 3.46 and 3.54 respectively.
(Note: TP is just a guide)

sandho9 - hevea:

Currently trading sideways. The bearish engulfing pattern formed on 23/5 after hitting a high of 1.54, was a precursor to the profit taking activities and consolidation that followed. It has now formed a support base at 1.35. Immediate resistance is at 1.44. You may want to set a stop loss at 1.34. It is probably in for further consolidation. However, there is a price/acc.dist divergence, indicative of some accumulation in the stock. A break in 1.44 will see it testing its high of 1.54 again while a break below 1.35 will see it trend towards 1.31.

tsy88 - congrats on yr Bhs. That is quite a trade. Well done. Always good to lock in profits where possible.

tsy88 - bhs:

Agree with sunlight on his reading and that the volume was not convincing. Just to add one more point in that there appears to be some accumulation in the stock as indicated by a price/accum.dist volume divergence. However, as sunlight suggested, do monitor the price and volume movement during the upcoming trading sessions.

sandho9 - sorry, we do not recommend stocks to buy here. Hope you understand.

Johnny cash - thanks for alerting on mudajaya. Appreciate it.

malaysian - welcome. I am afraid we are not in a position to recommend stocks for you to buy but we do share TA and stock market information. Trading decision is yours based on the TAs that are presented here.

taka - welcome. We do not have any training course to recommend to you but we would appreciate if someone here can help taka out. Thanks in advance.

novice8 - Brem:

Trading sideways on consolidation mode. Currently, it is range bound with a support line at 2.04 and a resistance line at 2.10. Further support back can be found at 2.01 and 1.96. Resistance levels are located at 2.13, 2.17 and 2.26. It needs to break 2.10 with volume in order to trend higher. You may want to consider a stop loss at 2.00.

cherry tomato - Censof:

It has been trading in a descending triangle, a bearish formation. Has formed a strong support base at 0.47. Although the formation usually has bearish implications, in Censof case, it could be a case of a descending triangle with a bullish undertone as the past 2 weeks witnessed an increased in volume traded on the back of a price/RSI bullish divergence. The impending implementation of the GST and its proposed warrants could be the potential catalyst.

A break in its immediate resistance at 0.535 with volume would signal a potential breakout into a bullish mode. However, it is best to confirm the validity of any breakout by observing that its price sustains above 0.535 for at least 3 trading days with volume, as in the past, its price tends to recoil back towards it support base at 0.47. Any upward movement would see it testing the resistance levels at 0.605 and 0.67. You may want to consider a stop loss at 0.46.

jass - BPPlas:

Broke out from its rectangle trading pattern on 4/7 with volume that had a support at 0.73 and a resistance at 0.765. It also took out the subsequent resistance level of 0.78 and ended the day testing its major resistance at 0.80/0.81. Tentatively, it looks bullish. Should the break out remain valid, the bullish momentum will carry it to the target prices of 0.86, 0.94 and 1.08. Should a retracement occur, it should find strong support at 0.765.

connie - hahaha... Enjoy your trip and have a safe and pleasant journey. This place will certainly miss your presence. Eat and drink your hearts out over there! Cheers.

inwest88 - congrats on syscorp. Good spot.

connie - Thanks. You certainly have a way with words...hahaha... I believe you mentioned earlier in the year that you are traveling to Europe right? Have you made the trip already?

sephi/skyhawk - guys, don't call me sifu lah. We are all equals. Market is really on the up today for most stocks. Sephi - congrats on yr grabs!

connie, sephi, skyhawk and all - good morning. Hope you triple up the tons of money you are already making from the hot market today! Cheers.

livermore - Destini:

Came under selling pressure today but its uptrend is currently still intact as it is still trading within its uptrend channel. However, there is a price/rsi bearish divergence, an implication of a potential bearish undertone. The support level at 0.675 is an important level. A break at this level would breach its uptrend support line and could see it trend towards 0.605 on a bearish mode. Should it overcome its resistance at 0.745, it would scale new highs to targets at 0.84 and 1.00 respectively.

ck - PW:

Effectively broke out on 5/6 to scale a high of 1.43 on 16/6 before consolidating into a flag formation. It has broken out of this pattern on 1/7 at the break out point of 1.24. Immediate resistance is at 1.30 while its major resistance is at 1.43. Immediate support is at 1.24.

In order to determine if the break out is valid, the volume on break out should be high which isn't the case here. So, it is best to monitor its volume and price movement over the next few trading sessions to confirm its validity. When break out volume is not sufficiently high, it may not be sustainable.

winwinborn - I understand. All request are noted but sometimes our team members may be tied up with their corporate meetings and other stuff, so, there might be some delay. Thank you for your patience and understanding.

winwinborn - please allow us a bit more time on it.