Sycal Ventures (SYC MK) Take profit with potential downside of 8.5% Last price : RM0.385 Target Price : RM0.355 Resistance: RM0.405 Stop-loss: RM0.410 SELL with a target price of RM0.355 with stop loss placed above RM0.410. Following our BUY call on 1 Apr 14, SYC’s share price has moved beyond our expectation after exceeding our target price of RM0.370. A steep correction from the recent high of RM0.425, which placed the share price below the 10-day SMA line, marks a potential continuation of the downward movement. This is consistent with the negative readings in both MACD and Stochastic as the selling pressure intensified yesterday following the formation of a “long black candle” on the back of a bearish crossover in MACD. Moving forward, we expect SYC to resume its correction and test the previous low of RM0.355 in the short term.
Aiyo.....dunno tomolo will go up or not leh......look like turn around liao....but vol still not that great leh......aiyoyo.......how.......still can get at 33 or 32 or not......dunno want to wait or not leh......ha ha ha
Sycal Ventures (SYC MK) Technical BUY with +18.1% potential return Last price : RM0.415 Target Price : RM0.4335, RM0.490 Support : RM0.390 Stop-loss: RM0.380 BUY with a target price of RM0.490 with stop loss placed below RM0.380. Given the recent steep correction to the low of RM0.345, SYC’s share price recovered and closed above the 50.0% Fibonacci retracement level on 12 May 14. As the share price gradually climbs higher, SYC flashed multiple positive signals yesterday. Both the 10-day and 21-day SMA lines are on the verge of forming a crossover as SYC closed above the 61.8% Fibonacci retracement level, suggesting an end to the recent correction as the trend is likely to reverse hereafter. The uptick in RSI and a bullish crossover in MACD indicate improving momentum and could translate into further upward movement in the near term. We peg our medium-term target at the 1.61x Fibonacci extension level of RM0.490 as we opine that the long-term uptrend outlook remains intact.
heheheee.....Jacky some time u need to visit the sifu @ other house to find out what is the TP, but Johnny d given his TP 0.49 :))) huatttttttttt arrrrrr...... 0.45 liao........
Sycal may climb after closing the highest in more than a year. Traders may buy if the stock stays above MYR0.425 today, with a close below MYR0.40 as a stop-loss. The price target is MYR0.515 if the MYR0.475 resistance is broken. However, note that the stock could trend lower if it fails to stay above MYR0.425, and further support is at MYR0.35.
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....
uamirah
72 posts
Posted by uamirah > 2014-04-29 02:15 | Report Abuse
OK lah..we jump jump together when below 0.37..best of luck SEP..