Suddenly sounds so chilling. Volume was low and few buyers. Normally this is an opportunity to buy on dips.
U.S. and Europe moving in a way that indicates room for expansion with lower employment coupled with economic growth. Europe has decided to print more money and also brought down interest rates to near zero to avoid a deflation. Interestingly, banks will have to pay ECB interest for storing money with them. There will be more liquidity for the open market. Dow and S&P have hit 5 or 6 record highs recent times and while this indicator is worrisome to retailers, Wall Street has registered lower fear index and suggests that the bull market is not over yet.
So which way the global market is headed KLSE will follow suit. The World Cup event has a strong pulling factor which reduces trade in the stock exchange. This is already evident in the last few days. I think the market is not nervous yet but just taking a pause.
@focuz the mkt is bullish..but the destiny of individual stocks r different.. my est is 95% r terminally bearish, 3% temporarily, n just 2% remain bullish by my personal benchmarks..
i m a trend investor (not a contratrian), i only invest in bullish stocks n remain invested /add more until their bullishness is compromised..then i exit all..
so for oka, i mentioned that it is likely it wont go beyond 1.00 in this round..so the dips with low volume n few buyers, this is perfectly normal..key is that it is still bullish..
u shd know that oka can consolidate horizontally for 1 or 2 mths before making its next move upwards (PER is still <10 ) but always in a disciplined manner, never chilling or creating havoc..
this round of horizontal consolidation shd see the 0.89 - 0.90 as the new base..thats where i will start my buying or slightly higher than 0.90 just to ensure i get the size i want before its next 1.20 onslaught..n another cool 20%..
If you look at the price chart for this year, OKA peaked on 10/1, 21/2, 11/3, 27/3, 24/4, 3/6, 9/6, monthly and higher & higher. Maybe new high soon ... hopefully.
Hopefully there is other positive news to push the price even higher. I guess my TP 1.20 can be reached soon. But I will not consider selling until after I get the dividend. This is a rock solid counter worth keeping for long term.
Actually, if yesterday sellers did not set up block at 1.11 & 1.12 it would have broken 1.10 convincingly. Maybe those sellers have sold, no sell block at 1.11 & 1.12 ... Trend is still upwards.
OKA has the habit of staying quiet for a length of time. Then suddenly it will surge! The dates for the dividend would probably be announced end of July as in previous years.
but mind u all... from technical point of view... there is still much space for retracement. The scenario is. If today close at 1.06. then the retracement will go somewhere to 0.995 or 1.00. but if today do not close to 1.06. then the retracement will be around 0.975.
My best advise is... follow the trend. Trend is your friend!
I believe price will retrace to around RM1 before it will go further ahead. But for now. Just need to be patient... its a longer term here.... be patient and u will have a fruitful return... this is it
Bought 100 lot at 1.04 this morning .. Hope to collect another 100 lot again if it come back to 1.04 or 1.05... Tmrw definitely will rise due to the bullishness sign ... Agreed with Greyson ...
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ampabella
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Posted by ampabella > 2014-06-12 23:26 | Report Abuse
OKA sure will be back to rm1.00, but maybe 2 months , 3 months or 3 years