Dear Tessa n lee9fold, after reviewing my book, i found that i made a mistake. It is not a rising wedge i told u last nite. It shld b a bullish pennant which resembles a bearish rising wedges. The rising pennant is very rare pattern among the 3 types. Thousand of apology.
CityTrader tqvm for correcting the mistake that a rare bullish rising pennant has been sighted on yr chart instead of a bearish rising wedge.
In conclusion yr prediction is reversal n instead MMODE share price shld b bullish by 90% & 10% bearish. I hv confidence that it will continue its uptrend momentum very soon due to its strong FA & with the combination of yr prediction of a bullish TA chart, investors r anxiously waiting to see & collect their share value appreciation. Good luck.
If MMODE can break the initial resistance of 0.66 with big volumes it will resume its uptrend momentum towards the target price of 0.72. With perfect combination of a strong FA & a bullish TA chart signal, a rise in the share price is imminent & shld be around the corner. TQ
Tqvm CityTrader for enlightening the correction & interpretation of MMODE's TA chart signalling a reversal fr bearish to bullish rising pennant to enable me to hv the confidence to accumulate more @0.64 during the earlier downtrend. Together with my earlier purchased @0.655 & 0.66 today I've decided to take profit & disposed all @0.69.
I'll b monitoring its share price movement n to take position again when it consolidate to a support level as the fundamental of the Co is still intact with potential growth prospect & the possibility of a corporate exercise being undertaken by an established corporation to unlock its value.
This company's business model is HOT IN DEMAND. Now too many people addict to smartphone & so, the data based & internet video & features are hot in demand.
Net profit margin is over 20%. Mana cari?
Valuation wise is easily 10 times & so 1st target price is RM0.80. With RM0.74 now, still got 8% margin for short-term trader.
MMODE still on consolidation mode. Another attractive penny stock with fundamental has great potential to move forward to higher level. I'm monitoring its share price movement & shall take position again when it consolidated at a support level. Good luck.
Many people want to buy this stock, but who want to sell this stock at lower price? I guess contra players..lol..only long term investors will gain profits in this stock.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
CityTrader
8,151 posts
Posted by CityTrader > 2013-10-26 10:18 | Report Abuse
Hehe, freethink, u know i know yr gender, right!