KLCI, DJIA SnP500 NASDAQ RUSSEL index has broken down from the long term support. Even if our index were to rebound, it will still be weak unless it can rise and close above 1830. Analyst already given year end target of 1800. Broken down support means: BAD
PMETAL has rebounded from oversold position. Take great precaution if you intend to purchase this or other stocks. Once the main trend is down, usually all will follow. PMETAL long term trend is still supporting it at 4.37.
Just broke Resistance 5.13, next resistance in 5.32. Immediate support now in 5.00, next support 4.32. As I said earlier, for mid-long term investor, current price is very attractive.
KLCI is trying to recover now. Immediate term at this point of time, it has turned bullish. It must continue to hold at this level for further recovery. Once it has confirmed its recovery, then stock prices can recover along the way.
If KLCI can hit 1785 and sustain at this level and above, KLCI has completely turned bullish. PMETAL is looking nice and set for its recovery soon. The 1st. target is at 5.50
KLCI is maintaining its bullish trending today. If this trend can hold, it should continue to improve the following week provided DJIA doesn't sneeze tonight.
qwerty: PMETAL must continue to rise above 5.33 to make an immediate recovery. 14/10/2014 17:44
Comment: Managed to trade at 5.32 and close at 5.25
qwerty Immediate CI support = 1759 From the chart: I see PMETAL forming a base and looks good if it stays at this level Expect it to move higher if it does. 17/10/2014 08:28
Comment: A strong base has been formed. Chart has been partially repaired. It will be considered fully repaired when the price hit 5.92. Note: The number will vary slightly with each trading day as the chart pattern changes.
qwerty: If KLCI can hit 1785 and sustain at this level and above, KLCI index has completely turned bullish. PMETAL is looking nice and set for its recovery soon. The 1st. target is at 5.50 17/10/2014 12:22
Comments: P M E T A L immediate timing trend turned bullish at 2.30pm at 5.10. KLCI managed to surpass 1785 closing at 1788. KLCI index immediate trend has turned bullish.
Forecast and Outlook: Barring any unforeseen circumstances of global shocks, PMETAL will trend positively from next Monday onwards. There will be short rest in between while trending upwards higher and higher without reversing back to 5.00 anymore.
Monday's target to hit and close: 5.55 If this materialize, it has landed on the 14day EMA daily support line. The next daily target is at 5.78 ie. the 21days EMA support line followed by the 31days daily EMA support at 5.92.
EGM meeting to decide on the Ex date bonus issue is on Thu. 23.10.14
My personal assessment on the price before ex-date lie around 6.00. It could be higher but very unlikely to be lower.
All the above forecast is done on a conducive market environment.
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....
rchi
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Posted by rchi > 2014-10-14 15:16 | Report Abuse
huat arrr.