Dear frens and forummers, i set up CHRISSYCONN to share our trading and investing ideas. We shall start afresh in this new place WE proudly call HOME .
It is our dream to become a Successful Trader as well as a Super Investor. To make our dream comes true, we embrace TA, FA and a business mentality.
Yes, we will be stressful pursuing our dream .... so ps feel free to share your humour with us so long as IT IS not offensive to anyone in this HOME.
Lastly, we would like to remind everyone to trade / invest at own risk should u choose to buy our stock pick .
FOR CHARTS, PLS VIEW OUR BLOG
http://chrissyconn.blogspot.com/
hawk .. thanks so much !! okay ziggyzaggy got to wait first :( just now based on m60 price action, i got the signal to enter but i re-checked the weekly again and ooh-la-la not comfy with the candle ..
wow jt8888 ... these steel counters are truly HOT :) someone mentioned masteel cup and handle with 'sky is the limit' target ... today, she hit the target if we use classical TA formula (0.77 + 0.275 = 1.045) to compute ! eager to see how far this pattern can stretch ... but most likely this ONE formation can't reach his FA target of 1.76 ... perhaps need to go thru' some ebb-n-flow to hit that !
Connie, thanks for advise. I am bad in TA. Trade based on FA ,news and rumours. Actually fgv almost hit my cut loss rules, but believe Rchi had different view on fgv, so seek from his opinion.hehe
non-stop 'noise' from the steel counters eh ??? i guess those who believe in the fundamental values gotta brace the ups-and-downs .. SHORT-TERM traders; however, shud always be on alert with reference to price actions on the chart !! the following guideline on violation of 9ema to take profit is not a bad idea ...
**Looking at the technical indicators, the rise in the share prices of steel players has also been overdone. Malacca Securities Sdn Bhd technical analyst Loui Low shared that profit-taking activity is likely to be coming in the next couple of days, citing that the chart is a bit “overheated”, indicating an overbought signal. “For me, I’ll look at the nine-day EMA (exponential moving average) line as the first defence. Once it drops below that line, you should take profit,” he said**
if u decide to be a momentum trader ie chasing the waves, u will like to read the followings - TP 1.76 ... cup & handle formation with 'sky is the limit' target !!! have no comment on the FA target of 1.76 but the last para has to be qualified if one uses this classical chart pattern to estimate TA target :(
So what’s the valuation? Really, it depends on the market. If you want to use PE, you need forward earnings. Historical earnings aren’t going to help you. However, as a start, I think it is safe to assume that MASteel’s profit will at least double from the import duties and the sustained steel prices. Therefore, a full year EPS of 28.8 (4.4c * 4Q * 2) shouldn’t be too surprising. Assigning a PE of 5 would yield a TP of RM1.76, close to double the current price. Finally, if you haven’t seen a cup and handle, this is a perfect one. In technical trading, what usually follows is "The Sky is the Limit."
kikiki connie,mkt like this got no meaningful waves to chase la. better sideline or like someone always say "prepare for crash" (remote possibility after usa presidential election but cannot rule out completely) meanwhile i pass time by polishing my free perdanas :)
rchi ... LOL 'prepare for crash' eh ??? hmmmm, tonite e-meeting on steel counters :) wah, polishing perdanas ... come come help me polish my 8-year-old BMW :(:( this one really needs to be polished cuz old already :(:(:(:(:(
hawk ... i counted this cup-n-handle target around 1.045 i think !! oops ... the other day hit 1.06, okay let's see if there is another round of upleg :)
**wow jt8888 ... these steel counters are truly HOT :) someone mentioned masteel cup and handle with 'sky is the limit' target ... today, she hit the target if we use classical TA formula (0.77 + 0.275 = 1.045) to compute ! eager to see how far this pattern can stretch ... but most likely this ONE formation can't reach his FA target of 1.76 ... perhaps need to go thru' some ebb-n-flow to hit that !**
hi 100percentprofits ... read this statement from your awesome article !! may i ask based on classical TA, is there not a formula to compute the target price after the formation ... if not mistaken, target = breakout price from handle + the distance between right peak to bottom of cup ... thus, it may sound rather optimistic to say 'sky is the limit' if one uses TA to gauge target price ?
"Finally, if you haven’t seen a cup and handle, this is a perfect one. In technical trading, what usually follows is "The Sky is the Limit."
is it just me or ???? whenever there is a theme play or something, there are a lot of unknown authors with excellent FA / business analysis (plus a teeny weeny bit of TA) in i3 ... then, when the music stops, all these authors also vanish into thin air with no further comment / advice to trapped retailers ... and haven't we heard before that syndicate nowadays hire 'EXPERTS' to paint a nice pic to charm and captivate us ??? :):)
" then, when the music stops, all these authors also vanish into thin air with no further comment / advice to trapped retailers"...... Connie...they dont vanish into thin air...when the music stops for that particular stock/themes, they move to another stock/themes.. ...they're still around. So after steels will be what themes???
Yes,the thing abt syndicates is if you cannot fight them,then lesrn their ways n profit frm them....the so called SA....syndicate analysis....the third school.
One old man always used the word gambler to describe trader in i3. This show his immature n closed mindset,out of tune wth the surrounding. And of course he can never in his wildest imagination know how many % a good trader made in 1 yr compared to his outdated methods.
yes rchi dear ... i also like them cuz they are the only one who can give us explosive orgasmic reaction in a short period of time :) if really gotta wait for good fundamentals to be reflected in price, zzzzzzz !!! plus there shall only be one-liner for each counter in i3 during QR period .. eg, this QR good so price goes up 3sen to reflect true value .. end of story :):):)
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Posted by Christine Goh > 2014-03-11 21:40 | Report Abuse
Dear frens and forummers, i set up CHRISSYCONN to share our trading and investing ideas. We shall start afresh in this new place WE proudly call HOME . It is our dream to become a Successful Trader as well as a Super Investor. To make our dream comes true, we embrace TA, FA and a business mentality. Yes, we will be stressful pursuing our dream .... so ps feel free to share your humour with us so long as IT IS not offensive to anyone in this HOME. Lastly, we would like to remind everyone to trade / invest at own risk should u choose to buy our stock pick . FOR CHARTS, PLS VIEW OUR BLOG http://chrissyconn.blogspot.com/