Benalec--Support at $1.38 is holding so far. Benalec has formed an Symtrical Triangle, normally it will continue the trend that preceeded it which in this case is Uptrend.However the Break Out from the Triangle with volumes still the most important factor to determine its direction. As suggested earlier it need to move above $1.42 first and break $1.45 to continue its uptrend. If break down below $1.36 the uptrend may be temporary over.( For trader like me we will cut the losses).
oh yeah hor. mistaken the announcement date for disposal dates.
nvm matrixcool says it best: Benalec has formed an Symtrical Triangle, normally it will continue the trend that preceeded it which in this case is Uptrend.
lwalk, they want to create uncertainty and shake out weak holders... so that they can whack more before they announce the deal is done
In bolihland, everything also can bolih settle (including EIA report). So I believe it's a done deal, just waiting for right time to hatch the plan....
After the Doji formed on 17/7 Benalec share had been on downward for the past 10 sessions.Today it almost break down from the Symetrical Triangle when it touched $1.35,good news is the Triangle is still intact. Another good news is it formed a "hammer" today during downtrend which is a good sign. Will it turned out to be the Bullish Reversal from here? A close above $1.42 signal Buy and a Breakout from Triangle above $1.45 with volumes Benalec will Roll.... Support is adjusted to be $1.36/$1.35 level..
Benalec is still trapped inside the Triangle and today formed a Doji during downtrend which is a good sign.Whether this Doji will be the Bullish reversal will needs confirmation. Immediate resistance at $1.41 and it needs to break $1.45 with volumes to breakout from the Triangle. Immediate support at $1.35 with stronger support at $1.30.
Petronas delays RM60 billion petrochemical project to 2018 JULY 30, 2013 LATEST UPDATE: JULY 30, 2013 06:54 PM
Petronas will start up a refinery within its $19 billion (about RM60 billion) petrochemical complex in Malaysia at end 2017, the company told Reuters today, signalling a delay in the country's largest-ever infrastructure project.
Petronas said in a statement that the remaining plants within the Refinery and Petrochemical Integrated Development (RAPID) complex will be commissioned in 2018.
Previously local media had cited Petronas CEO Shamsul Azhar Abbas as saying the start date for phase one of the RAPID project had been pushed back to early 2017.
"The Final Investment Decision (FID) date for RAPID project has been rescheduled to March 2014 from June 2013," Petronas said in a statement released to Reuters, citing external factors beyond its control.
"As a result of the revised FID date, the RAPID refinery is scheduled to be ready for start-up in Q4 2017 and the remaining plants within the complex is scheduled to be commissioned in 2018," it said.
The decision to postpone the FID date to March 2014 hit the shares of local mid-sized oil and gas services companies, and analysts said the latest delay could weigh on firms like SapuraKencana and Wah Seong.
With oil and gas making up a fifth of GDP, this latest delay in the project - one of the main thrusts of Prime Minister Datuk Seri Najib Razak's Economic Transformation Programme aimed at doubling Malaysians' incomes by 2020 - could slow down the economy.
Petronas unveiled the RAPID project in May last year. The plan was to construct a 300,000 barrel per day refinery, which would supply naptha and liquid petroluem gas to the chemical plants and produce gasoline and diesel for European markets.
France's Technip was awarded the front end engineering and design (FEED) contract, which was slated for completion in the second quarter of 2013. The financial value of the job was never disclosed.
Contracts for the engineering, procurement and construction jobs have yet to be awarded, although preparation work for the site started on Oct 18.
The contracts for the refinery are expected to be awarded by end of this year. - July 30, 2013
I had cut all my losses on Benalec when it broke down from the Triangle today. :-( :-( For those of you holding for long term investment i would like to wish you all good luck and it has been a pleasures to be with all of you here for Benalec..
tommy826 i cleared all my Benalec at a loss..Since i dont hold any more Benalec shares it is not fair for me to comment on this stock anymore here... Thanks Zero and i wish you all good lucks. For me as a trader i follow my own interpretation of the chart..I cut losses at times to protect my capital. Hope to meet again at other stocks some other days.. I really wish this stock will rebound back and today is just trap to shake out traders like me.. Keep your finger crossed..
matrixcool,TA wise,yes you are right,but you throw the share not at right time.for me,i will keep and wait until Fed meeting finish.US job stat and GDP won't hit target,the QE won't cease at this crucial moment.KLCI has dropped only 2%,not reversal sign yet.
Thanks everyone... As a trader I am just an interpreter not a forecaster, so locking in profits and cut losses is part of the trades.. Yap, hope to see you all at other stocks in this forum.. Good Lucks !
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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....
hangjebat
430 posts
Posted by hangjebat > 2013-07-25 11:37 | Report Abuse
dylan1027... me at 169, crawler at 175....