Technical Update: Escape while the pain is still bearable.
Day 3 of consolidation after the big drop. What potentially of a descending triangle has evolved clearly and confirmed to be a BEARISH PENNANT. Google what a bearish pennant is, and you should run for your life.
HY Bearish Pennant (Day 4): Pole height = 7.30 - 6.03 = 1.27 Pennant points = 6.73, 6.35, 6.03 Pennant break point (day 5) = 6.20 Tp after break = break point - pole height = 6.20 - 1.27 = 4.93
rr88 is a prophet of doom with peanut brain. Those with no brain will follow him to doom. Correction for HY and Petronm is almost over. Time to recover and move upwards.
Quickly dump lar 6.30 - 6.37. No need to bargain. These few cents loss (of trying to bargain) is nothing compared to whats coming. It will drop more than 1.00 from this level.
The japs used candlestick to trade rice since 1600s. There is something magical about technicals which have yet to be explained by science.
I repeat. Its in the midst of a BEARISH PENNANT formation. The breakdown on monday, latest wednesday will be severe.
If the result out during lunch break is excellent, CIMB will be out of control. Anywhere the loss have been minimized by price pressing down from Tue to Thursday.
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....
Ravi Kumar
3,480 posts
Posted by Ravi Kumar > 2022-05-27 11:02 | Report Abuse
You got any brains?? So hai
Posted by rr88 > 30 minutes ago | Report Abuse
Technical Update: Escape while the pain is still bearable.
Day 3 of consolidation after the big drop. What potentially of a descending triangle has evolved clearly and confirmed to be a BEARISH PENNANT. Google what a bearish pennant is, and you should run for your life.
HY Bearish Pennant (Day 4):
Pole height = 7.30 - 6.03 = 1.27
Pennant points = 6.73, 6.35, 6.03
Pennant break point (day 5) = 6.20
Tp after break = break point - pole height = 6.20 - 1.27 = 4.93
4.93 +/- few cents on the way.