interestingly, a bullish harami formation appear on my 60 mins chart.

this downward movement resembles that of 14 May on my 60 minutes chart when it broke down from a descending triangle @1.43 and hit a low of 1.33. If history is repeating itself, we may see a low of 1.28 before a swift re-bounce. let see whether this turns out to be the case today.

market up or down, opportunity always there. Just see how you trade. I see opportunity for a swing trade.

But I am neither Blogger no Website Publisher. cant figure out how to do this.

thanks. I will give it a try.

1.38 breached. now is up to the uptrend line @ 1.35.

i dun mind putting up a chart for discussion purpose if i know how to post here.

by the way, 1.51, be it support or resistance has been penetrated few times. It is hardly a support or resistance anymore. correct me if i am wrong.

nubhan: I merely ask the question, did you buy when u make the call?

I believe market is always right. Just let the market settle on its own.

you mean you want to buy @ higher price?

anyone knows how to post a chart here?

order not done....

queue to buy @1.38 ....

PE @ RM1.4 I should say not PE 1.4

I mentioned earlier that the uptrend line yet to be breached. The 50d EMA @1.38 still holding. Fundamentally, PE @1.4 looks attractive therefore substainable. Thus I will remain positive until these conditions are breached.

tradersam 56: optimism as in the mood of the traders in this forum.

nubhan: your call to buy above 1.51 would have trapped many should they followed. seriously, do you trade based on your own TA reading?

Good point Mat. That is where I started. Is a TA revisit for me.

wow suddenly all the optimism. ha ha

on the 5 mins chart, the price is now trading above both short term EMAs which is a good sign. Just waiting for it to propagate to 30mins chart then 60 mins chart.

teobl9, i am using osk188's OMS for 60 minutes or shorter period and chartnexus for daily, weekly or monthly.

Just to elaborate my points earlier. If we chop off the last quarter earnings and assume 3rd quarter earning same as 2nd quarter (effectively we are only considering 3 of the 4 quarters earning), this will still give JCY a PE of 5.6. Hence my believe the curret price level of 1.4 is substainable.

RSI - my reading has been when it comes out from oversold, it will retrace a little when it hit 50 before it advance again. the same goes with JCY.

EMA 20 @1.47 will be the resistance. RSI out of oversold hit 50 now retrace a bit. if that is what you mean.

waiting for a higher high and a higher low, within my 60 minutes chart, an indication of a possible trend change.

expecting the price action to be in a tight range and sideway while waiting for the EMAs to level off.

rebound to the upside is limited by the short term EMAs which are trending down. what is critical now is to see if support holds. if support holds, chances are it will rebound and cross the EMAs.

50d ema (1.38) holding well so far. See how it goes this afternoon.

high of 1.65 to the low of 1.33 to be exact.

Bro Jjtrader, if u can plot Fib. Retracement on JCY from recent high to the recent low, you will find the rebound on 17 May hitting the 78.6% level. I took my profit @ 50% level around 1.5.

The same will go for Alam, if the rebound hit the 78.6% chances are it will reverse.

Bro Jjtrader, just reply your post on Alam.

Jjtrader, Alam is trading in a downtrend channel. I bought in @0.51 for rebound play. I am looking @ Fib Retracement level for my exit during this rebound. Technically, I wouldnt consider mid term unless the underlying trend has changed.

audiTTS: I have my reservation on counter like Smartag due to lack of past earning record. Technically speaking, its price is trading within a downtrend channel since IPO. Personally, I wouldnt consider this counter unless it starts to trend upward.

Your point noted. Its competitors may recover operation fully by end of 3rd quarter but whether they can recover their orders fully, time will tell.

@1.40, JCY is now trading @ PE of 9 based on last 4 quarter earnings. Assuming it can maintain its earning for next quarter, then its forward PE should be 5.6. As such, I believe its price at this level is substainable.

May I know what potential you see in Smartag? capital gain? potential high dividend? and by long term, exactly how long? 6mths? 1 yr? 5yr?

latest quarter result out. From last 4 quarter results, Alam is currently trading @PE 15 which is a significant improvement. Technically, it is expected to rebound from current price level. 1st rebound target 0.56.

NK: by saying so, I presume you have learn some basic skill in TA.

There are few issues I need to sort out before I can call myself a full time trader.

What is the percentage of your winning trade?

why sell if u have holding power and confident in this counter? U may have to rethink your strategy.

so far all I see is hype and fear in you guys. No confident in JCY fundamental?

owner fight with 3 bankers? how come i dun see any!

JCY is going through a short period of consolidation as seem by the reduced volatility and volume. This is normal as it has gone thru recent big downs and ups. it is now trading between the 20day ema (~1.47) and 50day ema (~1.38). Tomorrow would be even more interesting. just wait and see.

wait see the big volume on 16 & 17 can be absorbed or not on T4.

^-^ no need to apologize. I thought all the posting suppose to make us make better decision.

what i meant by that is if u can think like the "cowboy" do, surely you wont want to push the price higher for other traders to exit. you would have waited and collect from them. This has nothing to do with FA or TA.

what makes you think i deviate from my FA n TA?

exactly, so i am expecting price range between 1.49 - 1.4 for the rest of this week.