lorimilo, Top Glove is currently consolidating side way in the correction phase. It appears to have found a bottom at 4.79 during this phase and at the moment has an immediate support at 5.25 and further support at 5.17. Immediate resistance is at 5.35. TA cannot predict how the stock will trend in 1 to 2 months but you might want to monitor those support and resistance levels.

Hi Salam. AAX is consolidating in a pennant. Its uptrend remains intact as long as 0.28/0.285 is not violated. As for Genting WA, it is very bullish but with its overbought position, it may be due for a correction.

It has been sometime since I last posted due to work commitment. However, its good to be back.

KLCI closed off the week in bullish fashion, sustaining above 1700, which could serve as a precursor to a more bullish week ahead. I believe confidence is slowly gaining traction in the market especially with a more stable oil price although range bound. At least the days of wild oil price swings is over.

I will share with you some of the stocks that I am trading or eyeing for trading.

I am currently trading Sedania after it bottomed out at 0.36 in oversold position. It has successfully broken out from its 0.40 resistance with volume, a strong hint that its correction phase is over and is now ready to commence a new lease of bullish life. With sellers exhaustion in the stock, the appetite for this stock should be strong. It is currently sitting on its next resistance level at 0.435 and baring any negative news, I would expect it to take it out next week.

There is one other stock that I believe is worth monitoring and that is EG. It has been consolidating sideways with waning volatility. It looks to have bottomed out at 0.83. Currently, it has good support at 0.855 but it must crucially take out 0.915 with volume and stay above this price level in order to have any meaningful breakout.

Have a good weekend everyone.

Dear All, a belated thank you for all those wishes here. Work commitments had limited my presence here. Anyway, I sincerely hope everyone will have very profitable days ahead.

KLCI seems to be going into a tight range recently with 1626 posing as the resistance to take out at the moment. At least for the time being, oil price appears to be stabilizing, fluctuating within a range. Earnings reports will very much dictate stocks movements for the time being and as we can see, quite a number of companies are reporting less earnings and profits.

Have a great weekend everyone.

Good Morning, All. Good Morning, Dunknow. Great to hear from you.

..hahaha.. hi Connie, the live wire.


twobits, Connie, long green candle but I am not sure if it will last but lets make hay while the sun shines.

hi twobits. Busy but fine thank you ..hahaha... Finally a green market for all ..hehehe..

Hi Connie ....been a long time i know ..hehehe

Duit, Good afternoon

jasonor, great analysis of the market. Thanks for sharing your insight.

No, I was monitoring O&G but did not go in. Still volatile in my opinion although it may be good to go in for the mid term. Did you buy O&G stocks?
I am now trading Sedania as it is close to oversold territory and has good support at 0.42.

Good morning All.

Happy New Year, duit

We may see a short term recovery in our market and perhaps inching back some confidence into investors. The rumoured news of Russia working with OPEC to cut oil supplies, if true, would be a game changer.

Oil counters could be back on the radar. At the moment there are many stocks that are in oversold territory. I am looking at Halex, one of the oversold stocks, which appeared to have bottomed out at 0.55. It could be due for a technical rebound.

Happy trading.

Good morning All.

A listless market so far. Fear and uncertainties are gripping the market and looks like investors are cautious in taking positions. Global markets are closely tied to the oil price for the moment.

Oil price may not have bottomed at the recent low of 27. I could be wrong, but there could be some more downside before it starts to stabilize as the industry is still adjusting to the new world oil order. The present energy environment is very different to the times when oil price hit lows in the past. The current environment has in play, shale oil, slowing economies, record production of Iranian oil, the reluctance of Opec to address the supply side and alternative energies.

KLCI is still in an oversold position but the uncertain future of oil price and the lack of stimulants to the market does not give any real impetus for at least a technical rebound across the board. Expect wild swings in the global market. Happy Trading.

Good afternoon Connie and all

Good morning All. We are seeing some technical rebound on some stocks but the CI is still in the red. Please trade cautiously.

8wpwtmt8, The KLCI is currently hovering around its current support of 1622 to close at 1619. The next support is at 1600, the psychological support, with further supports at 1583 and 1562.

The KLCI has just entered into an oversold position. However that does not mean we will see an immediate technical rebound although one will be due depending on when the oil price stabilize somewhat temporarily. Falling oil prices is still causing havoc in world markets. I do not think oil prices has bottomed out yet. So, do be cautious in your trading.

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Posted by 8wpwtmt8 > Jan 21, 2016 12:52 AM

Dear ProfitMan,

I am very concerned about our KLCI. Could you please workout what is the Support 1 and Support 2 for a technical rebound. Thank you.

Ariff, you are most welcome. Good luck on AWC. Could be in the money.

Good Morning, ALL. Looks like profit taking is ruling at the moment. However, those stocks with momentum could continue its momentum sa the session progresses. Happy Trading.

ariff, AWC looks to have strong support at 0.43. The hammer suggest that the selling momentum is minimal for the meantime and that the breakout of 11/1 is valid. It is now consolidating and could re-test its resistance of 0.465 again. Stop loss if 0.43 is violated or set your trailing stop whichever the case may be.

Good Morning All. KLCI formed a hammer yesterday suggesting a possible reversal, a technical rebound, as the market is bordering in oversold territory. It broke down from the 1622 support but closed back at this support level, a hint that the market has found a good support at this level for the time being barring any further negative news. Lets see if it can stay above 1622 today.

Happy trading!

Good morning all

tsy, you are most welcome. Yeah, quite a Dow yesterday. It found some support level for the time being. Oil price continues to play havoc on stocks especially for energy stocks there.

Dropping oil price is becoming a norm these days. I believe oil is still in the process of perhaps the last leg of its drop which I am expecting it to maybe touch 25 or thereabouts. It could put some oil companies out of business or in downsizing mode. Once the industry adjust itself to the new world oil order, then only will we see some stabilization before it trends up again.

I would be keen to monitor oil related stocks from hereon. Happy trading.

ariff, you are most welcome.

8wpwtmt8, OWG has good support at 2.89. Its TA doesn't look entirely bad. It has broken out of its resistance at 2.98/2.99 on 23/1 and is currently consolidating. Trading volume has increased recently. If 2.89 support is broken down, then weakness would creep back into this stock.

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Posted by 8wpwtmt8 > Jan 9, 2016 05:25 PM

Dear Profitman: OWG is a F & B and theme park operator mainly at Genting and Komtar. FA wise, it is a highly growth share. It is giving 1 : 5 bonus issues with ex-date on 13.01.2016. But the TA looks very bad. Can you kindly please estimate its support price.

Good morning to all. We hope everyone has a profitable day ahead.

Thanks Dunknow for the info. The suspension of the circuit breaker is a good thing.

Another tumultuous day in the world market with sell off across the world markets. One significant development is the Chinese suspension of the circuit breakers which I believe is the right move. The circuit breakers tend to aggravate the selling as investors who wants to sell are frustrated by the breakers. In a free market system, we need to allow the market forces to work its ways and perhaps, its part of the learning curve for the Chinese government being a centrally planned economy all these while.

Over in KLCI, the immediate support of 1653 remained intact in spite of the huge drop in the Dow last night, i.e. 7/1/2016. Selling were well absorbed. Possibly, long term investors could be scouting for value buys. We can't discount further selling pressures tomorrow but if the support holds, we may yet see a technical rebound. Ding dong market? You bet it is.

A lot hinges on the steps that the Chinese government would take to calm nerves in her market. As always, trade according to your trading plan and do tighten your stop loss.

tsy,
Aturmju: Has broken out with volume but due to the market sentiment has been sold down with the gap support of 0.635/0.66, temporarily closed. The support remains intact for the time being. Strong resistance at 0.78/0.79. If the gap support is closed and breached with volume, it would be a false breakout.

PRG: Bullish but losing momentum. Immediate resistance is at 1.00 while support rest with 0.905/0.91. May be in for a consolidation.

westgun, yeah, what a start to 2016. KLCI has an immediate support at 1653 and will be looking at the next support at 1635 if this is broken. We can expect our market to be still range bound with bearish biasness as I do not see any potential economic backdrop that could spur it and inject bullishness into it. Being in neutral zone, i.e. neither heavily oversold nor overbought, we might not see a heavy sell off in the very near term unless there is a major market crash worldwide. We could be seeing a lackluster market.

The China and world sell off on 4/1/2016 was not just caused by China's poor manufacturing data but also due to the upcoming Jan 8 expiring ban imposed on major shareholders. The circuit breakers could have worsened and expedited the drop. To add to it, the geopolitical situation in the Middle East involving Saudi Arab and Iran fanned the uncertainty and volatility further.

There is still a lot of fear in the market but at the same time, there are also lots of pockets of trading opportunities in the market.

ariff, sorry for this delay.
Asdion: yes, it is still under consolidation in a sym triangle. Its 0.45 support is holding well and I believe it is nearing selling exhaustion. Until there is a breakout with volume, it may drift sideways. A breakout would retest 0.545/0.55 resistance.

michaelwoo,
LCTH: Although it has rebounded off its low of 0.715, there is distribution in the stock. May be in for some consolidation before testing the resistance at 0.805. Immediate support is at 0.75. You might want to consider locking in profits when there is any to lock in.

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Posted by michaelwoo > Dec 29, 2015 08:41 AM | Report Abuse

Morning TCB. Need your TA reading on LCTH. Has this stock reached its TP and value. Thanks

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

tsy, window dressing has been underway. Hope you made some good profits during this short run.

inwest, thank you and I wish a happy holiday too and enjoy it to the fullest. Please travel safe.

westgun, thanks. Merry Christmas and happy holidays to you too. Do travel safely.

Connie, twobits, tm, skyhawk, rchi, westgun, duit, dunknow, tsy, yongyou, region, yong8888 and all, Merry Christmas and Happy Holidays. Please travel safely! Cheers!

Duit, thank you and always great to hear from you. Very nice poem. Loved it ..hehehe... Happy Holiday and travel safe.

Ya Razaq, Allwin, Swift, mslee81, Thanks for your wishes. Likewise, Happy holidays and please do travel safely. Take a break from the market and enjoy yourselves during this festive season.

Dunknow, thanks for the nice graphics. You are good in this ...hehehe... Happy holiday and travel safe and please take care of your health.

Connie, what can I say, ..hahaha... lovely poem and I can almost sing it with the George Michael tune in my head. In any case, we take note of your message in the song just like Sting's message in a bottle and see if we can spice up this place. Thank you. In the meanwhile, Merry Christmas & Happy Holidays! Please travel safe.

TCB wishes everyone a Merry Christmas & a Happy Holiday!

As always, we would like all Malaysians to drive safely whenever you are on the road especially with your loved ones in the car.

mslee81,
IJacobs: Under correction and could be due for a technical rebound. Support = 0.15 ; Resistance = 0.18.

HoHup: Consolidating. Currently enjoying good support at 0.995/1.00. Resistance is at 1.07. There is accumulation in the stock.

Esceram: In a correction phase. Has support at 0.455/0.46 and a resistance at 0.51. There is some distribution in the stock and its correction may not be fully over.

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Posted by mslee81 > Dec 23, 2015 08:40 AM

Noted with thanks on SEACERA, Profitman!

Between, how do you view IJACOBS, HOHUP and ESCERAM? Many thanks!

inwest88, no problem at all. Happy to share it with you. The selling pressure on Instaco has eased off tremendously and there is an initial growing momentum in the stock. The gap support at 0.265 remains intact. The resistance to watch for is now at 0.31. If it can clear 0.31, it could be poised to take out 0.34. The chart is drawing my interest in this stock ...hehehe.... It could be ready for some upside in the short term.

ariff: Seacera WB, is now trading at a 0.35 or around 34% premium with Seacera mum at 1.03. Seacera mum is bullish and there could be more upside to WB depending on how fast and high Seacera mum trends.

tsy, Gpharos, is still in consolidation and range bound between, 0.40 (support base) and 0.46. The resistance is at 0.48 which if broken will be bullish again. It has broken out from its downtrend line and has the potential to break 0.48.

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

KoonBee1,
GreenYB: It has broken out today when it broke the 0.24 resistance and subsequently 0.27, a major resistance with a volume spike. If it can sustain above 0.27, it will be trend reversal and very bullish. Today it tested the resistance at 0.32 and will attempt 0.395 later if it can sustain its breakout.

mslee81, Seacera is bullish and has the following TPs - 0.98, 1.01, 1.07 and 1.16. Based on current trend, it has the potential to hit 1.16.

connie and all, I wish all who celebrates it, a Happy Winter Solstice and a memorable reunion dinner.

tsy, yes, Dow started with a 100 plus points in the green, slid down close to 10 pts in the red then roller coasted to close more than 100 points in the green. Quite a familiar ride these days.

KLCI is green so far and we can probably expect this tone throughout the day. Perhaps window dressing in progress? Happy trading.

Inwest, thank you for your kind words and very nice of you to drop by. Its really good to hear from you. Take care.

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

TCB wishes everyone a Happy Winter Solstice and a Memorable Reunion dinner. Its a good time to reconnect with family members and to appreciate people close to us.

One of the first book i bought on the stock market was by Dr Neoh, a book which I have preciously kept till this day. It was a well written book and imparted many important investing principles. I am a great fan of his and its amazing that he recognizes the changing environment and in the process, his thoughts evolves with the change which is very admirable. Many many many years ago, I emailed him on the relevancy of some his contents and he very sincerely and honestly replied that some of them are no longer applicable due to the changed environment. His writings shaped a lot of my investment strategies.

KC, thank you for featuring Dr Neoh.

calvintaneng, yes, the Jaws quote is one of my favourite and is always at the back of my head.

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

tsy, yes, volatility is the norm now. With falling oil prices, oil producing countries will be affected.

ariff, KLSE will react but probably in the morning session. It may turn for the better in the afternoon, hard to say.

westgun, we wish you an enjoyable weekend too. Thanks.

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

tsy, Hope everyone takes advantage of the green green day ...hehehe... At least finally one uncertainty is out of the way. No more having the "to hike or not to hike" cloud dangling over us. Happy trading!

michaelwoo, ...hahaha... yes, you may be right too. That would be an interesting scenario because everyone is expecting a hike. Either way, I believe the Dow may react positively. Without a hike, the positive reaction may be magnified but at the same time, we can expect further volatility until the next Fed meeting.

Dunknow, great to hear from you. Don't work too hard (funny, thats what Connie has been telling me too ...hahaha....) Sorry to hear of your health. Please take care and I wish you the best of health always.