those cannot hold one, will sell after big jump like this. still don't think the show is over. Afternoon section is a better section to see the real support.
We advocate a switch to sector laggards, being Muhibbah Engineering [(M) Bhd] and WCT [Holdings Bhd] for potential rail exposure. At current share price levels, we are neutral on the bigger caps pending the rollout of new tenders
WCT Holdings Bhd forms bullish "Double Bottom" chart pattern Apr 25, 2019
Recognia has detected a "Double Bottom" chart pattern formed on WCT Holdings Bhd (9679:MYX). This bullish signal indicates that the stock price may rise from the close of 1.120 to the range of 1.500 - 1.580. The pattern formed over 249 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached a bottom after failing to break through a support level and ultimately rising higher in a sign of reversal to a new uptrend. The Double Bottom pattern forms during a downtrend as the price reaches two distinct lows at roughly the same price level. Volume reflects a weakening of the downward pressure, tending to diminish as the pattern forms, with some pickup at each low, less on the second low. Finally the price breaks upward above the highest high to confirm the bullish signal.
This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.
IB is slowly changing their tune now, soon will start to up their target price for WCT. I still like to read about what HLG and AMinvest are going to say.
Syndicates talk but they can pull back violently before pushing sky high, a precursor is the ekovest we movement, jerking up down 8 sen To 14 sen before rocket To 45 sen. Incredible !
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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....
Desmond Nah
498 posts
Posted by Desmond Nah > 2019-04-25 16:56 | Report Abuse
1.1 is a good close