Posted by tccher > 2014-04-25 16:51 | Report Abuse

Matrixcool , everyday there are more than thousand counters in the stock trading market ,normally how do you filter out those good counters . most of the time you buy in and sell out at the very good timing , how you do it ?

Posted by pathew > 2014-04-25 17:00 | Report Abuse

check out digistar... director's intention to trade :)
in line with price movement from 21st april onwards... matrix how?

Posted by matrixcool > 2014-04-25 17:50 | Report Abuse

tccher---You are welcome,BARAKAH we are in the same boat. I will definitely alert you when I am getting out K? If you follow my thread I bought in BARAKAH at $1.52 in March and it was trading between $1.50 to $1.58/$1.60 but could not break $1.60. Finally, I cleared it at $1.56 lock in lesser profits to release my capital to buy into Muda which prove to be a better trade.

How do I pick my stocks? I would like to share my way of picking stocks, but again, it is my own way others may disagree with my way..
I pick losers too. Not all the time my trade is the winner.
Last night I actually spotted WONG( consolidate since Oct 2013, yesterday signal BUY when it breaks out of consolidation) but I was too tired after my airport trip back, so today it really flies. What to do life goes on..
After the market close like now, the first place I visit is the Top Gainers,I think you know I don”t trade penny stock and Big Cap stocks. I like those stocks that trade near round figures, say close to $1.00, $2.00 . Most of them are from < $1.00 to <$2.00. So there are not that many stocks after you filter that out..

OK..let look at today close, the stocks that I might be interested are:
Washeong, SCABLE, KNM, Willow. Then I will do a detailed analysis of the stocks and decide to trade or not.. Most of the time I passed on because I am at my Max 7-8 stocks. Unless i think in can day trade that counters or in T+3 (Like MINHO lately)..

But lately I have not much time to analyze because many charts to read for the investors here, sometime because I read their charts I come across some counters I am interested. Win Win situation. Now with the help of profiMan , SF and htyeap, the work is lesser.

Pathew—Still in DIGISTA kah? Don”t tell me this is the stocks we traded last year you are still holding? I remember I lose quite a bit of money on this counter.Will look at the chart for you over weekend Ok?

Have a nice weekend..

Posted by Nana88 > 2014-04-25 17:54 | Report Abuse

Mat, TQVM for the explanation. Very useful and very helpful as I am just starting to read about TA.

How do you arrive at TP on counters that keep setting new high ? Eg. Mpay.

Posted by tccher > 2014-04-25 19:35 | Report Abuse

Matrixcool, thank you very much for your kind explanation . have a nice weekend.

Posted by novice8 > 2014-04-25 20:10 | Report Abuse

have a good weekend everyone yay!

Posted by pathew > 2014-04-25 21:10 | Report Abuse

no bro mat, I just came across this share and thought of sharing it with you guys... seems like starting uptrend again

Posted by Escape > 2014-04-25 21:26 | Report Abuse

Thanks matrix, I really learn a lot from you. Thank you for your willingness to share.

Posted by tonylim > 2014-04-26 12:45 | Report Abuse

Off the cuff.. mat. I would rather not look at digistar. Waste of time.

Posted by tiongms > 2014-04-26 14:20 | Report Abuse

Brother Matrix,MUDAJYA been retreating,kindly assist to analyse this counter.TQ

Posted by MinMin > 2014-04-26 14:24 | Report Abuse

Matrix.... I have in wah seong on Friday. Heard got project announce soon..

Posted by novice8 > 2014-04-26 17:49 | Report Abuse

yay profitman, may i check with you BJauto in term of its TA and FA pls? tqvm!!!!

Posted by matrixcool > 2014-04-26 17:53 | Report Abuse

Nana88 > How do you arrive at TP on counters that keep setting new high ? Eg. Mpay.

I am very happy you decided to take up TA,I am sure you will find its importance to your trading in your future trade. Do remember TA can only use as a guide, it is your trading plan that is going to help you to make money in your future trades.
You ask a very valid question about stock keep setting new high, these are the counter you should be trading as it is still at stage 2 of the cycle. I did the chart reading for ronaldo at 02/04 and later for isy on 13/04 and subsequently Stay_Foolish did the reading for yuyu82 on 24/04.

# MPAY---Stage 2 of the cycle and very bullish..It hit the high of $0.32 on 01/04 and start to consolidate today. Any weakness towards support of $0.27 and strong support of $0.25 offer opportunity to collect for future play.As long as it stays above its uptrend line of $0.255 it is expected to retest its immediate target of $0.325 and the next target of $0.385. A break below $0.25 spell troubles ( violated its uptrend line) and exit if $0.22 is violated.-- ronaldo96 (02/04)#

#MPAY did consolidate to $0.275 on 04/04 but formed a Hammer the same day imply consolidation is over. It rebounded the next 2 days and hit my target of $0.325 & went to the high of $0.34 on 09/04. A break above this level will try my next target of $0.385. lsy7 (13/04)#

Stay __Foolish,
#Mpay --I would consider this kind of trend is Parabolic trend like Dsonic trend. I usually use this kind of trend to do defend instead of attack. I find it very risky. But well, different ppl got different risk appetite and preference. Am not sure how high the price will go out. Just remember to lock in profit and set trailing stop loss. yuyu82 (24/04) by SF#

If you look at it Mpay it just hit my estimated target of $0.385 yesterday.

On your question how do we work out the estimated target? Well, there are a few methods and the most common use is by Fibonacci numbers or Eliot Waves but I am not too familiar with both of them.
Since you are learning TA, I will share with you how I work out the targets for Mpay (Again, it is my own way and many may disagree with my calculation and I respect their ways of working out their targets)
Since you are learning TA, I presume you can access to Mpay chart, now open the WEEKLY chart of Mpay:

From left to right draw a horizontal line at $0.26, you will see what SF suggested as parabolic shape or we call Round Bottom below $0.26 (See That?), the low of the bottom is $0.075 right?

I work out the next rstimated target for Mpay is:

TP= $0.26-$0.075 + ($0.26)= $0.445.

That means if $0.385 is taken out it should reach its next target of $0.445 with immediate resistance at $0.40 ($0.40 is what we call an invincible round number resistance), you get that?

The target of $0.445 is only a guide and no one in this world can surely tell you it will definitely get there, not me or any other analysts, you remember this point!
If you look at the RSI and stochastic this counter had been overbought for months in the weekly chart. I mean months, so do not read too much on the indicators because you are new to TA and using too many indicators can be confusing.

Like SF I would suggest you set a Trailing Stop to protect your profit while enjoy riding on MPay. My congratulation to you on a winning trade.

The Final Traget? When buyers dried up and start selling..that is the final target..Don”t worry that day will come too question is only when?

Oops, better get ready for early dinner because of football tonight..

Have a nice weekend.

Posted by navi > 2014-04-26 19:26 | Report Abuse

Matrix very insightful...can you please help check on gadang. Thanks a lot in avbance

Posted by Nana88 > 2014-04-26 21:39 | Report Abuse

Thanks for the great lesson, Mat. Ok now, I need to let it sink in.
Have a great evening/weekend! Thanks again.

Posted by gerry188 > 2014-04-27 08:40 | Report Abuse

matrixcool: Really cool and great lesson. Thks - just a silent reader here.

Please do the reading for Mudajaya requested by tiongms.

Posted by gerry188 > 2014-04-27 08:43 | Report Abuse

matrixcool: Also, how about Protasco. Looks like a very weak w5sw5 developing. Double top at 2.10/2.02. Low volume stock, so just cannot figure out its movement.

Posted by gerry188 > 2014-04-27 08:44 | Report Abuse

2.01/2.02, I mean

Posted by novice8 > 2014-04-27 09:44 | Report Abuse

Wow Gerry, what do you meant by w5sw5? ;) Tq!!

Posted by gerry188 > 2014-04-27 09:49 | Report Abuse

novice8: I also novice. Still learner surfer in EW. I just try and do some counting and see if bro matrixcool reading tallies. That's the only way to improve.

Bro matrixcool is very much more advance - he already reading stuff like cup and handles. Best to follow him, I'm only looking for advice.

Posted by novice8 > 2014-04-27 10:12 | Report Abuse

Gerry, morning!! Let me assure you have visited the right thread for insight and advise from seniors! Let us learn together yay!

Posted by jennylee1382 > 2014-04-27 10:16 | Report Abuse

matrix my son now studying in royal military college, his leg ankle fracture coz of he attending competition run n badminton. now slowly recover.

Posted by gerry188 > 2014-04-27 10:37 | Report Abuse

novice8: Thanks and here's to learning from the sifu!!!

Posted by Metta > 2014-04-27 10:40 | Report Abuse

Gud a.m Bro Matrix

Just got back from my holidays and was browsing thru the forum and saw ur invitation. Sori for d late reply.

TQ for your invitation n the trouble to arrange vegetarian meal for me. M afraid has to give it a pass tis round as m not able to make as Ned to attend a wedding. My apology .

Rgds

Metta

Posted by ProfitMan > 2014-04-27 10:57 | Report Abuse

Novice8 : will do BJAuto later. Sorry. Gerry's w5 sw5 refers to the sub wave 5 of wave 5 on the Elliot Wave. After this wave, the share is expected to undergo the corrective wave down.

Posted by novice8 > 2014-04-27 11:03 | Report Abuse

tq profitman! can i trouble you to visit Mkland too bro? is worth to hold mkland for mid term? whats your take on its intrinsic value? tqvm!!!

Posted by AyamTua > 2014-04-27 11:07 | Report Abuse

bro matrix minta tolong baca - ahb, ntpm and hexza .. thanks

Posted by matrixcool > 2014-04-27 11:07 | Report Abuse

Gerry and Navi, welcome to this thread.

tonylim— Thanks ,I am not trading Digista and definitely not interested in this counter, pathew only highlight it to me.

MinMin –Not sure about any project announcement, but chart wise it is very bullish and at stage 2 of the cycle..

WahSheong
Very Bullish after breaking out from its ‘Inverted Head and Shoulder” pattern on the weekly chart at $2.00. More upside potential for Wahsheong to its estimated targets of :
Tp1=$2.18, Tp2=$2.29/$2.30. (Mid-Term=$2.40/$2.42)
Any weakness offers buying opportunity
Support : S1=$2.03/$2.00, S2=$1.98/$1.95 ( A break below S2 shows weakness and more consolidation can be expected).
Stop-loss: RM1.82 is violated.
Note: I am definitely interested in this counter will put it under my watch list.

androsjy
SAB---Very Bullish stage 2 of the cycle. It opened with Big Rising window ( Breakaway gap) and this big gap may invite short term traders to lock in profits. The big gap of $5.30/$4.99 is now acting as a strong support for SAB. The gap is most likely to be filled in the near term.
If break above its previous high of $5.98 the next target is estimated at $6.50/$6.66. Congratulation you are on a winner, but it is advisable to set a trailing stop to protect your profits just in case there is big pullback.


tiongms-& gerry188 - MUDAJYA been retreating,kindly assist to analyse this counter.

MUDAJAYA
Very Bearish trading below its down trend line and on 24/04 it opened with a fallen window(Breakaway gap) and 3 black candles for the past 3 days imply more downward movement in the near term. It is expected to test its immediate support at $2.56. If this support fails to hold will take it down to next support at $2.40 and very strong support is at $2.20. any technical rebound should find immediate resistance at $0.65 and very strong Gap resistance at $2.72/$2.75. If you are thinking of bottom fishing Exit if $2.20 is violated.

Navi,

GADANG---Stage 2 of the cycle and very bullish. It is under consolidation and found a new temporary top at $1.96 .A break above $1.96 will take it to its invincible round number resistance at $2.00 and beyond. It has an estimated target of:
TP1=$2.00, TP2=$2.20.
Any weakness should find immediate support at :
S1=$1.78/$1.76 ( offer buying opportunity), S2=$1.64/$1.60.
It shows weakness if S1 is violated that means consolidation may take longer time. Depend on your trading plan it may be advisable to set a trailing stop to protect your profits just in case there is big pullback.

gerry188 &nana88, thanks for the kind comments.

I will update PRTASCO on my weekly Summary tonight. I won”to be free in the afternoon ( laso football night tonight)and any charts reading, please refer to profitman ( I know he won”t be free because Liverpool is playing tonight), SF or htyeap. Thanks
.
Have a nice weekend..

Posted by novice8 > 2014-04-27 11:11 | Report Abuse

tq for the analysis, mat! and congrats on 4-0 winning! looking forward the weekly summary! tqvm!!!

Posted by lsy7 > 2014-04-27 11:28 | Report Abuse

Mat, really learn a lot from all your comment/explanation in this thread. Thumbs up!

Posted by matrixcool > 2014-04-27 11:55 | Report Abuse

jennylee1382—poor soul, hope he will recover soon. He needs to be patient now..

Sis Metta—No problem, we can always arrange another one next time because they are many missed it this time.

profitMan, you can read Elliot waves? I always admire those that know how to count waves, I have tried before, but fail miserably, sad sad! Maybe you can enlighten me when we meet as I think it is the other method that is independent of indicators.( except Fibo numbers which is not price related).I get lose especially when the sub waves come in. maybe I need to study Fibo number well.

lsy7, novice8, thanks. Ya, I watched the game mid night last night..

AyamTua-- ahb, ntpm and hexza
I did AHB for Bliss on 18/02/2014.
# AHB---Very bullish with the uptrend line intact,and it is expected to test its strong resistance at $0.245.A break above $0.245 not only will take it to its previous high of $0.28 it also breakout from Round Bottom formation on the weekly chart that has an estimated target of $0.38 in the medium term. Any consolidation may find support at $0.215/$0.205.Exit if $0.17 is violated.—Bliss( 18/02/14)#
After the reading,
It did break above $0.245 and hit my TP of$0. 28 on 20/02 and the next day it hit a new high of $0.29 but formed an “Evening Shooting Star” imply consolidation to start which it did. This “Evening Shooting Star” is shadowing the upward movement of AHB at the moment. It may have found a new bottom at $0.21 and if fails to hold should find strong Gap Support at $0.205/$0.195. Any rebound should find strong resistance at $0.28/$0.29.
Note: Do observe the Exit level and the final estimated medium term target remains if it can clear the “Evening Shooting Star”

I did the chart reading for yoda on Hexza on 21/02,
Hexza—Agreed with you reading on Hexza after last Friday closed. It actually breaks out from $0.69 (Rectangle Trading) with an immediate Target of $0.74. The consolidation looks over after hitting a high of $0.795 on 29/10/13 and found the new base at $0.64. A successful break above of $0.74 should take it to re test previous high of $0.795. Exit if $0.64 is violated.—Yoda88 (21/02)

After the reading,
It did hit my estimated target of $0.795 ( high of $0.805) on 23/04 and started its consolidation and filled the gap (Rising Window) formed on 23/04 at $0.78/$0.775.If this gap support fails it should find next immediate support at $0.755 and strong support at $0.74. Any weakness towards support offer opportunity for future play. A break above $0.805 will take it to next estimated target of $0.845/$0.85.

I need to go out now to visit my sister family and only be back tonight, can anyone help ayamtua on NTPM?

Have a nice weekend.

Posted by tiongms > 2014-04-27 12:05 | Report Abuse

Brother Matrix,appreciate your analysis for MUDAJYA.Thanks again

Posted by gerry188 > 2014-04-27 12:20 | Report Abuse

Bro matrixcool: Many thanks for the reading on Mudajaya. Had the same thoughts but with support at 2.59 and downtrend line at 2.40. Was wondering what would happen if it broke below 2.40 - could not see the 2.20 support line on my charts.

Posted by ProfitMan > 2014-04-27 12:38 | Report Abuse

Mat: Rather busy today. Will do BJAuto and MKLand for Novice8 later. SF and HTyeap or whoever else out there will need to help out on the rest. You guessed right, tonight will be busy with the Liverpool game. Congrats on the MU win last night. Hope they get back their footing.

I can do Elliot Waves BUT I am not good at it. Yes, you're correct, the sub waves are not easy to read. Some i3 people are very good at it and I do respect them a lot. The theory is simple but reading it is not. I use it just to know at which wave the share is in. Even so, sometimes, I may be wrong.

Posted by tonylim > 2014-04-27 13:01 | Report Abuse

Good day profit

Posted by cocoa > 2014-04-27 14:02 | Report Abuse

Thanks again to Profitman for your help on TDM.

Posted by winwinborn > 2014-04-27 16:54 | Report Abuse

Hi Matrix, thanks for sharing on waseong. Last week just lock in profit 4.5% on waseong. Plan to re-enter. Notice that you are always have the right timing to enter a stock. Need your advice when is the best way to enter this stock?

Posted by matrixcool > 2014-04-27 20:43 | Report Abuse

Gerry, from what i gather you are good yourself in TA..
Hope u can help out others here sometime..

ProfitMan, it is not easy to read the waves like u said..
Ya, those that use it successfully must be respected. I just
Wonder does it work when stock is trading sideways? I know
Most of indicators are useless when counters are trading sideways..

Winwinborn, the right time to enter is reward/risk ratio is fovourable
To you. For example WahSheong,you can buy say at the existing closing price but if trade is against us you know your exit point. For me if i trade it i may set Stop Loss below $1.98..then i v look at my rewards if it is much higher than risk then i may enter the trade. I only use this as example please do not take this as a Buy signal..

Happy Trading..

Posted by matrixcool > 2014-04-27 23:21 | Report Abuse

28/04/2014—Weekly Summary
1) BARAKAH-- AV Price=$1.61 (Closing=$1.66, P&L= +3.10 %), Stop Loss=$1.48. Risk= - 8.0 %. Tp1=$1.70/$1.72, TP2=$1.78/$1.80 (Exp Trading Range $1.60 to $1.70 ). Note: Breakout from $1.60 signal BUY, which carry an immediate target of $1.70/$1.72 with immediate resistance at $1.67 which it tested, but fail to close above it. Any weakness should find support at $1.60/$1.58 and strong support is at $1.53. It is expected to test my TP1 of $1.70/$1.72 near term.

2) BORNEO OIL-- AV Price=$0.672 after Scale In (Closing=$0.655, P&L= -2.50%), Stop Loss=$0.625.
Risk= -7 %. Tp1=$0.69, TP2=$0.73/$0.745. (Exp Trading Range $0.65 to $0.69 ).
Note: After hitting a high of $0.72 on 11/03 it has been consolidating for the past 6 weeks. The latest support of $0.65 has been tested on a few occasions and holds, some rebound can be expected to $0.69 and if break (Signal BUY as it break above its immediate down trend line) may try TP2 of $0.73/$0.745.If break below $0.65 the next meaningful support is at $0.63.


3) ENGTEX--AV Price=$1.965 (Closing=$2.05 , P&L=+4.30%), Stop Loss (3)=$1.97. Risk= 0%. Tp1=$2.08/$2.10, TP2=$2.20/$2.23. (Exp Trading Range $2.00 to $2.15). Note: It hit my TP2 of $2.20 last week but failed to clear it. It closed with an ‘Engulfing Bear” on the weekly chart which imply the momentum may shift from Bull to Bear in mid term.
The uptrend is still intact and the fallen window at $2.09/$2.10 formed on 24/04 has become its immediate resistance. It is expected to rebound and fill the Gap, and a break above $2.10 may find strong resistance at $2.15/$2.20. Immediate support adjusts to $2.02/$2.00.
Even though I have raised my Stop Loss to $1.97 to protect my capital,unless that engulfing Bear of $2.20( on the weekly chart) is taken out I may clear to lock in some profits on any rebound.


4) HEVEA-- AV Price=$1.34 (Closing=$1.36, P&L= +1.50 %), Stop Loss=$1.24. Risk= - 7.80%. Tp1=$1.45/$1.50, TP2=$1.58/$1.60 (Exp Trading Range $1.32 to $1.45 ).
Note: It hit my Tp1 of $1.45 last week but failed to clear above it to test its previous high of $1.50. The consolidation started after hitting the high of $1.45, 3 Black candles for the past 3 days imply more bearish movement. Any weakness will find immediate support at $1.34/$1.32.
A successful penetration of $1.45 confirms its bullish trend and it is expected to test its previous high of $1.50 and beyond into uncharted territory.


5) PANTECH-- AV Price=$0.985 (Closing=$1.02 , P&L= +3.50 %), Stop Loss=$0.935 . Risk= - 5 %. Tp1=$1.04/$1.07, TP2=$1.13/$1.16 (Exp Trading Range $0.975 to $1.04 ). Note: Have been collecting since it broke out of its immediate down trend line of $0.975 on 10/04 with a breakaway gap. As suggested last week it tested my TP1 of $1.04/$1.07. The downward momentum has slowed down so it is expected to retest $1.04 if break will try $1.07/$1.11. Formed an Engulfing Bull last Friday after the bearish harami on 23/04 giving some confusing signal. Any weakness will find support at $0.995/$0.975 (Gap Support) offer opportunities to collect for future play.Very strong support is at $0.945. EXIT if $0.935 is violated.

6) WCT-- AV Price=$2.263 (Closing=$2.26, P&L= 0 %), Stop Loss (2) =$2.18, Risk= -3.7 %. Tp1=$2.37/$2.40, TP2=$2.50/$2.55 (Exp Trading Range $2.20 to $2.30). Note : Stage 2 of the cycle very bullish after breaking out from $2.20 , it has been consolidating between $2.18 to $2.30 for the past 2 weeks. A break above $2.30 will take it to my Tp1 of $2.37/$2.40. Any weakness should find immediate support at $2.24, strong support is at $2.20/$2.18. The problem with this stock as it just got up from stage 1 it has many overhangs to clear. I have raised my Stop Loss to $2.18 to reduce my risk to 3.7% or may sell if it can”t break $2.30 to release my capital

I am selling the remaining shares of:

a) MINHO—It is expected to test its previous high of $1.13/ $1.15 and immediate target of $1.18. Support is at $1.06/$1.04. Trailing Stop is at $1.03 to protect my capital.

b) JAYCORP-- It hit my TP1 of $0.825 and set a new high at $0.86 which fall short of my TP2 of $0.88/$0.90.Uptrend is still intact, but the upward momentum has slowed down so any more weakness should find support at $0.785/$0.77.The dark Cloud formed on 24/04 at $0.855 is shadowing the upward movement of Jaycorp and any rebound should find immediate resistance at $0.825 and strong resistance at $0.855/$0.86.

c) Muda—Formed a Temporary Top at $2.00, unless this round number resistance is taken out ( I may Scale In more shares) it is expected to consolidate in the near term. Set my trailing Stop at $1.84 to protect my profits.

I am collecting PRTASCO and BREM..Monitoring Wahsheong, Orna & OKA..

Happy Trading..

Posted by gerry188 > 2014-04-27 23:26 | Report Abuse

Aiyoh, bro matrixcool, if I only have half your skills but I also like following kuya hawk. He's the real EW sifu.

Sometimes when I spot a trend in a certain stock, I usually post in that thread to share. But lately, kena hentam left and right in one thread.

Will certainly help where I can ie if there are counters that look interesting from a technical viewpoint, then I will post here so that we can look at it together.

Posted by htyeap125 > 2014-04-27 23:57 | Report Abuse

MK Land - very bullish after breakout (on 16 Apr) from the resistance of 0.46 on 24 Feb with heavy volume, signalling buy. Though bearish engulfing was formed on 22 Apr, momentum remain intact as the volume was lower. Spinning top formed on 25 fri indicates trend reversal, however we need Monday's candle to determine its movement, ie, the 3rd wave. Immediate support is at 0.51. Exit if 0.46 is violated

Posted by matrixcool > 2014-04-28 00:21 | Report Abuse

gerry188 , It is Ok we are all learning too. Happy to hear you are willing to help in this thread. I think if we are sincere to help and share our knowledge, traders will learn to acknowledge that we are not here to promote any stock but to help each other technically. They will appreciate our efforts.

I am happy you know kuya hawk that help you in Elliot wave, I always admire those that can read Elliot Wave accurately. I know it is not easy as I tried but failed badly, sometime it can be confusing with all those sub waves. profitMan is good at waves here.

htyeap125—thanks for helping out on MKLand..apprecaite it.

Oh yeah, I forget to mention earlier I am also monitoring 3A..

Happy Trading and good night..

Posted by JamieO > 2014-04-28 00:37 | Report Abuse

Dear Matrix, for Minho is the coming wave no 2?

Posted by matrixcool > 2014-04-28 08:09 | Report Abuse

JamieO—Welcome to this thread..I am so sorry I cannot help as I do not read Elliot wave, maybe profitMan can help you here..

I only use a 4 stage cycle and Minho is at stage 2 of the cycle which is very bullish. It needs to break and stay above $1.16 to scale higher..

Happy Trading..

Posted by JamieO > 2014-04-28 08:18 | Report Abuse

Thank you Matrix.

Posted by androsjy > 2014-04-28 08:54 | Report Abuse

Thanks for the sharing & the efforts.

Posted by matrixcool > 2014-04-28 09:29 | Report Abuse

BREM--Trying next resistance of $2.12/$2.13, if break next target is at $2.20/$2.26..

Bought in WahSheong at $2.03..

jamie0, androsjy--you are welcome !!

Happy Trading..

Posted by novice8 > 2014-04-28 10:11 | Report Abuse

Your timing is just awesome, mat.. Hands down to you!

Posted by winwinborn > 2014-04-28 10:12 | Report Abuse

Thanks Matrix. I missed wahseong boat....

Posted by ProfitMan > 2014-04-28 10:19 | Report Abuse

novice8: BJAuto - After scaling a new high to 2.27, it has gone into a correction mode as expected because it traded with price/RSI divergence from 4/4. The 2 marubozu formation on 24 & 25/4 suggest sellers exhaustion and a potential bullish push but they were formed on declining volume. So, you may want to monitor closely today's trading pattern. Please note that the marubozu formation does not mean a definite bullish run. Sometimes it can either go into consolidation or a bearish mode.

Immediate support is 2.00 but it seems to be forming a base support at 2.04. Immediate resistance is at 2.17 before re-testing the major resistance at 2.27.

FA wise, based on its latest unaudited reports, it looks good with healthy increases in revenue and operating profits which naturally transmit into an increased basic EPS of 11.35 sen and it has no bank borrowings. It also transformed its negative cash flow from operations in 2013 to a positive cash flow in 2014 which is a good sign. The launch of its CKD models later this year, should boost its top and bottom line further.