Wednesday, October 31, 2012

Malaysian Bourse A Rising Star

HERE’S WHY: Rising foreign holdings, growing number of net worth individuals and attractive investment products.
RISING foreign holdings and a growing number of wealthy individuals are among factors that make Malaysia's stock market a rising star, says Affin Investment Bank.

Its head of retail research Dr Nazri Khan said the level of foreign shareholding in the country, especially in local banks, has been rising noticeably.

For example, over the last two years, CIMB Group's foreign shareholding has increased to 40.2 per cent (from 33.1 per cent), Public Bank to 28.1 per cent (from 24.9 per cent) and Maybank to 16.4 per cent (from 11.2 per cent).


"We think that this trend is likely to continue," he said in his presentation at the 17th Malaysian Capital Market Summit here yesterday.

Foreign investors appear to have a renewed enthusiasm for key Asian markets, including Malaysia, he observed.

"Investors are now less focused on China and expect India and Asean to be the next hot bed, with Malaysia as a low-beta high-yield play," he said, explaining that Malaysia stood out as a defensive market in the region.



His comments come as the benchmark index FBM KLCI rose to an all-time high of 1,679.37 during intra-day trade yesterday, before easing to end at a fresh record close of 1,672.56.

Nazri believes 1,700 points is within the index's immediate reach. His year-end forecast for the index is 1,720.

"Valuation-wise, the KLCI is still expensive, with its price-to-earnings ratio of 14.8 times and price-to-book value of 2.2 times. The best strategy is to wait for a pre-general election (GE) correction to get into equities," he remarked.

He said the upcoming 13th GE, which he speculated could be held in the first quarter of 2013, can be a short-term opportunity for investors to accummulate stocks.

During the elections, however, he expects the market to correct mildly by about five per cent.

Meanwhile, he noted that the growing number of rich people in Malaysia and products available for them to invest in, will also help boost the market's attractiveness. 

As it is, Asia has emerged as the region with the highest number of rich people. 

In Malaysia, the number of high net worth individuals is expected to increase to 68,000 (with assets of US$329 billion) in 2015 compared with 32,000 (US$143 billion) this year, according to the 2012 World Wealth Report released by RBC Wealth Management.

"It is just a matter of time before investors become more sophisticated and more aware of what is available in the market," he remarked.

Warmer bilateral ties between Singapore and Malaysia, which may usher in more investments from Singapore-government-linked companies, including wealth funds, could also help push up the market, he said.

The Asean Trading Link, which currently links up the stock exchanges of Malaysia, Singapore and Thailand, giving them a collective market size of US$1.4 trillion also helps put the country on investors' radar.

Still, there are downside investment risks, and these include the eurozone sovereign debt crisis and a slowdown in the Chinese economy, he added.

Tuesday, October 30, 2012

AGLOBAL How High?

BullTrader Trading Plan

Entry for Uptrend
(Smooth Ride A) : Look for entry @ 0.07/0.08. Target price 0.13.
(Smooth Ride B) : Look for entry @ 0.13/0.14 or breakout @ 0.18/0.19. Target price 0.30.

Exit when Downtrend
(Smooth Ride A) : When 0.07 support broken.
(Smooth Ride B) : When 0.13 or 0.18 support broken.


Happy Trading and Good Luck! 

Monday, October 29, 2012

PERDANA How High?

How far can PERDANA go? Well, seem like it will going to move closer to the 2nd resistance at 1.10/1.11. So expect another bounce off from this level. It is good time to sell out your position and buy lower at the 1st resistance area 0.89/0.90 (now turn support).


The Trading Plan

Downtrend
Looks for buy at around 0.89~0.92 price level. In the event any breakdown from the 1st support (resistance turn support @ 0.89/0.90), there will be high chances that the short term uptrend will be delay/end and it is advisable to exit all your position in PERDANA. 

Uptrend
Once breakout from 1.10/1.11, we will be on the smooth ride towards target 1.50 and possible extended target of 2.00.

Happy Trading and Good Luck! 
Note: This chart TA is part of BullTrader FireBull Techniques

SCOMI How High?

How far can SCOMI go? Well, here is my 2nd update, since my first posting 2 weeks ago. It has been riding smoothly until it hit a resistance 0.45/0.46 which was mention in my 1st post. I expect it will retrace approximately 50% from price top 0.45/0.46, but instead it only corrected around 38%. Since it has done the correction, going forward I think that it will go further up until reach another 2nd resistance 0.56/0.57. So expect another bounce off from this level. 


My Trading Plan

Downtrend
1) At current level (25/Oct) any sell down below 0.40/0.41 will trigger me to exit SCOMI. 
2) In the event any breakdown from the 1st support (after breakout from 0.45/0.46), there will be high chances that the short term uptrend will be delay/end and I will exit my position in SCOMI. 

Uptrend
Once breakout from 0.56/0.57, we will be on the smooth ride towards target 0.80 and possible extended target of 1.30.

Happy Trading and Good Luck! 
Previous Post: SCOMI Smooth Ride?
Note: This chart TA is part of BullTrader FireBull Techniques

Monday, October 22, 2012

DJI Heading North or South?

Seeing last week DJI close down by more than 200 point, it reminded me it has been a while that it fluctuated between 13,000 to 13,500. This prompt me to take a look of the chart. My below study appear that, there were two possibility of 50% chances uptrend and 50% downside consolidation. So, will DJI going for much awaited correction soon? Or much awaited breakout? Will this happen before the Presidential Election (Nov 6) or after? From the chart, I included two triangle pattern theory. Ascending Triangle Breakout (green color) and Falling Triangle Correction (red color) and have draw up the zigzag pattern which looks match from this two chart pattern. Which will be the exact match?

Well, from the chart it show that the next important test for support will be (e) 13K (purple dotted line), this will be very critical support for uptrend. If this rebound strong than the market will be good to go beyond 13,600 and if this broken than be ready for downside. If it was going south, how low will it hit this time? 12k? 11k? 10k? 9k? Will this cripple our local mart upside? Let us follow closely this few weeks and hope the bear will not take over the control! 

Good Luck and All The Best!

Friday, October 19, 2012

Malaysia Can Manage Capital Inflows

The Malaysian economy is withstanding the impact of weakening global growth, with gross domestic product forecast to expand about five per cent this year, Zeti said in an interview here on Sunday. 

MALAYSIA can manage capital inflows due to monetary easing in advanced economies, central bank governor Tan Sri Dr Zeti Akhtar Aziz said, as Asian countries take steps to prevent asset bubbles after the US boosted stimulus.

The country has policy tools and the flexibility to absorb any excess liquidity, said Zeti, who oversaw Malaysia's response to capital outflows during the Asian financial crisis more than a decade ago.

"We certainly are the recipient of capital flows but the Malaysian financial system has reached a level of maturity in terms of development and in its functioning that is able to intermediate these flows, both surges of inflows as well as reversals," Zeti said. "The effects are disbursed through the financial system rather than concentrated."

Malaysia joins Brazil among emerging markets signalling confidence they can counter any surge in fund flows stemming from the US Federal Reserve's third round of quantitative easing. Fed chairman Ben S. Bernanke three days ago rebutted concern that the central bank's decision to purchase US$40 billion (RM122 billion) in mortgage-backed bonds a month will cause a destabilizing influx of capital into developing economies.

Brazil's central bank president Alexandre Tombini said on Monday his country will defend itself from short-term capital flows that bring financial instability and inflation risks amid an easing push from major economies. "We have the conditions to protect ourselves and we are doing that," he said.

Indian Finance Minister Palaniappan Chidambaram told US Treasury Secretary Timothy F. Geithner the Fed's easing may push commodity prices higher. Brazilian Finance Minister Guido Mantega said this month that QE3 risks aggravating currency problems for emerging markets, and vowed to do whatever is necessary to stop the "selfish" monetary policies of some developed nations from hurting his country's economy.

Japanese Prime Minister Yoshihiko Noda said last week his government will act against disorderly gains in the yen.

Most Asian currencies have gained in the past three months, and Hong Kong and Singapore unveiled measures to cool property prices after the US stimulus. Malaysia's ringgit has climbed about four percent since mid-July, the most among 11 Asian currencies tracked by Bloomberg after the Indian rupee.

The Malaysian central bank has kept interest rates steady for eight meetings, most recently in September, as the lowest inflation rate among Southeast Asia's major economies reduced the need to tighten policy. Consumer prices rose 1.4 per cent in August from a year earlier, staying at the lowest rate in more than two years.

"Right now on the horizon, the risk to inflation doesn't appear to be imminent," Zeti said. "There is less of a risk of inflation and given that we have excess capacity in our economy, the risk is on growth. But again right now, domestic demand is still relatively strong."

The country's monetary and fiscal policy is already "quite accommodative," Zeti said. Bloomberg 

Wednesday, October 17, 2012

INCKEN: A Trip To Vietnam

Yesterday, while I was doing some window shopping and to my notice a sweet and charming girl cross my eyesight. How sweet she was smiling at me. She looks familiar, I try to recall from my memory and to my surprise she was my Ex! Without hesitate I walk close to her and say 'Hi'. We have some chat and it was a great moment for both of us. We have been good relation years back and later we decided to move on our own way. Now she looks different, something that attracted me. Well, she told me she will be going for long trip to Vietnam mainly to Ha Long Bay and invited me to join her together with her friends. Without thinking I said Yes! 



Here is the trip info if you are interested to join. Do bring along your friends as well. Hehehe.. :-) We will depart today by Bus No.70,71 or 72.  There will be a transit at Bangkok and later ride with Bus No.85 to reach Phnom Penh and use ExpressBus No. 78 to ride towards Vietnam coastal road. The view will be pleasant, relaxing and real fun as well before reaching Ha Long Bay at station 110. We will be there for many days and will see if time permitting, we will be visiting Hanoi by Train No. 138. Hopefully will be back to our homeland before CNY 2013.

A note from Bus Operator: 

1) Do be prepare as they will be road block along the way, the major block would be with road towards Bangkok. If this is smooth, we might visiting some famous place at Bangkok with   Tour No.90 or Tour No.95. You may experience a bumpy ride to Phnom Penh and it might end up at Ho Chi Minh at station 75.

2) If you feel bumpy ride and not able to tolerate or have sickness, do safe yourself, as there will be no medical provided. In the event of casualty, please do seek your own treatment or you may opt to change to super class Bus or return back home.

3) If you are not able to reach Hanoi don't force yourself. If you manage to reach Hanoi, do take care of yourself and don't over spend or commit illegal act, else you will be trap there and miss your homeland.


Good luck on your trip, safe ride and enjoy!

Monday, October 15, 2012

Choosing PERISAI or BENALEC?

I put up this write was to refer to dknycom 'speculate' both this stock are recommended buy. :-) Hahahaha...Well, technically PERISAI and BENALEC still have potential upside. I have included the chart for your reference. If you look at both, I highlighted the red circle in PERISAI and BENALEC. It looks similiar, right? What I would take a quess is that BENALEC will follow the pattern of PERISAI which is profit taking. Will this happen? Let us see in next few days.

If it happen that BENALEC was going to take a price adjustment, I would recommend that to watch for 1.31 (main supporting trend line), 1.27 and 1.20 support area. Not to worry, all this 3 area will not cripple its upside momentum. We are looking for best LOWER price to enter for a target price of 1.50.

As for PERISAI, I was not comfortable at today close. It might go down to 0.98~1.01 if it does not hang up correctly at or above 1.05 (main supporting trend line), just need to watch carefully. Again, we are looking at the best LOWER buy price. Overall trend still have upside towards 1.38.

[Update 7:20am 16/Oct]
Personally I would prefer PERISAI as there is more upside gain (double of BENALEC) base on the current price. If would like to compare base on the company fundamental, I am not good at FA to comment here, hope there is good FA guys would be able to share some info. :-)

[Update 5:30pm 16/Oct]




































Cheers!!

JCY: My Trading Diary

Well, I have been following JCY forum @ i3investor.com for the past 5 weeks and seeing people are still interested to enter or holding on to this counter. At that time I did mention it will have more downside pressure when the price are hanging around 0.98/0.99 level and weeks later JCY take a dive! As per last Friday, it hit low of 0.68! Why I am interested? It happen that I am also investor for this counter (short-term) few months back. :-)  So I decided to do some write up on how I get involved and adding some JCY story and explanation from the chart as below.




So, what make this JCY so special? I think most of you guys will know, right? Thailand flood causing its competitors factory shutdown and lucky that JCY factory was not impacted. Is this true? I not sure as I read from the news. The news flow in Nov to early Jan (if I not mistaken) and analyst from various brokers firm start to recommend JCY, news are out and prospect of this company are on high note and the radar is ON for most of us here. Some of the headline I still remember was HDD shortage and to meet this demand, more orders are coming in for JCY from Western Digital and Seagate to supply HDD components, this will be the opportunities for JCY to outshine its competitors, new production to support new orders, etc. All this news will create more attention for us and it will play a musical song in our mind (trust me), yes this will be good place to invest, yes this will be good prospect, yes operation increase, yes more orders, yes financially sound better revenue and profits, I am not spared as well. Does this mean I get 'Influence'?

Now, to my side. I started to check on the chart, and to my interest it really attract me to join the boat. So I start to do some study from the chart and at the end I have set two profit target at 1.38 and 1.90 for my short-term investment. I started to monitor the trend and daily price activities and waiting for a breakout. Well, finally it breakout on mid Dec while I was on holiday trip to Singapore! Without hesitate I enter buy 0.75 (No.1) from my mobile and the orders matched. Now, that day really keep me uneasy, I was afraid the price might go down or is it a false break out? But I told my self it will go up and I trust my research! Am I 'Suspicious' about my own research and analysis? So on that day it close new high with volumes. What a relieve and I enjoy my holiday for rest of the week. :-)  

The smooth up riding now is with me for a month plus until it reach its peak at 1.50 on early Feb and it start profit taking. Actually, I did not exit at that time. My 'Greed' was whispering that the target will hit 1.90. What else influence my decision? Before the peak there is news saying that its competitors factory in Thailand still not in full operational and may drag it till mid of the year and JCY might get new contract from Seagate and this will be lucrative long-term revenue and profit for the company, right? So my decision struggling is about this news and my analysis on exit and price target. At the end I did not successfully exit (No.2) and as a result I was pinch and get squeeze on my profit when the price fall to the level of 1.0x. Again, I am saying to myself, this is not the sell price yet base from my analysis. I confidently hold and believe it will rebound once the supporting trend was hit. Its sound like 'Hope'? On mid March, I got excited as the chart give me a reversal signal and the price start moving up slowly. This time I change my target price to 1.60 (No.3) . Why? This price will be a strong resistance level base on the trend line I draw (from No.1 to No.3). Most of the time this trend will be the hard resistance and the price will not go far beyond this point. At the end of Apr I totally exit from JCY at 1.60. The 1.90 target will be my history!

Another thing I wanted to highlight beside a poor financial result publish on May that cause the share price consolidate, between Jun to Aug, there was new news and familiar news coming out which is repeating to the news that came out early of the year. One example is the possible major contract from Seagate for JCY. For new news it was mention about the operation recovery of its competitors, JCY will face challenging environment to maintain its HDD supply and it will lose to its competitors, etc (hope my memory still can remember correctly). The chart show how the price react between this period (more volatility seen and the trading band is formed - day trader would be interested to trade in this type of trend). Does this trend show those big guys are disposing the shares slowly? Mmmm...you guess. There might be late entrant as well during this period with long term investment in their mind hoping for more upside in coming years. This is what happen to me when I was newbie to the market. :-)

Now back to the chart on how to identified market top and the rest of exit point. I have put up another 3 exit point - the 2nd exit point is when the trend breakdown from 1.60 on early Jul. There is sign of double top created early Aug and the most clear sign of overall upside price failure is at 3rd exit point when it form a head and shoulder top reversal. This pattern tell you that the uptrend has ended and long downtrend going to start. 4th exit point will be the final and a confirmation of downtrend process. Some traders or investors will be starting to pay attention during the downtrend with the aim to get cheaper price for a rebound or long term investment. From the chart there is many low level going low again. Those who are buying during this period either turn out to incur loss or still holding the shares reluctant to sell out. In the end the price drift more lower and they couldn't even sell out! This kind of downtrend will also attract me to enter for purpose of wining quick profit, but sometimes you will not as lucky as you think it is. Take example of myself about the INGENCO sell down, I was planning to punt and earn quick bucks by making an entry (catching the falling knives), but turn out I lost the game!

What will be next for JCY? Since 0.72/0.73 show support failure - not even make it to hold for a few days and the price shoot below this level and close 0.685 (Fri). With this new low, I expect more downward pressure seen and base from the downside triangle breakdown (from the chart) the price will be steep fall towards 0.50 soon and than slowly drag towards 0.40 before any rebound seen (should be not that strong). From the chart I foresee JCY will not go above 0.70 for a long period of times if its going to hit 0.4x/0.5x. Unless there is another creation of miracle happen! Hope I am right.

Hmmm...Seem like I have been telling a long story. To summary, we as normal human being constantly fighting between emotions - suspicious, hope, influence, fears and greed (for my case here). Emotions is the culprit and it is hard to get rid off in the market. Another important key point would be a regular review of your trading game is needed and be flexible to change overtime base on the current market situation. Stock market can either be your friend or foe depend solely on how well you execute your trading strategy. In the end, stock market still is a very interesting place to earn money for all of us. Cheers!

Good luck and all the best!

Thursday, October 11, 2012

The Life of a Trader


Below are two articles I would like to share with you. It was a real fit to my situation years back and as well as now. I am still learning even after more that five years as a semi trader. This articles will be best to refresh your mind for those who are currently with stock market or new to stock market or to become a trader or planning to start trading for a living. Hope you enjoy reading and always have fun in the stock market. :-)

Article 1

Trading for a living is something great that many new traders have as their objective (myself included once upon a time), but only a very small fraction ever accomplish. This is partly a reflection of difficulty, of course, as just being a long-term profitable trader is a challenge. It is also partly a reflection of financial needs and changing personal situations.

I do firmly believe that to have a realistic chance to successfully trade for a living over the long-term you need to be very well capitalized. You don’t want to have to make 20% per month (for example) just to cover your living expenses, never mind to grow your account over time.

Trading for a living is a lot like starting a business. It requires a high degree of knowledge and experience in the chosen field, sufficient capital to be able to produce reasonable income and some cushion against difficult times, and a bit of luck and perserverance as well. There are a lot of reasons why new businesses fail at a very high rate, just as there are a lot of reasons why new traders fail at a very high rate. And even beyond that, those that succeed don’t guarantee massive financial benefit.

In the end each trader has to make their own decision, but for the vast majority of folks the answer is likely going to be not. In my case the answer is definitely negative. For me trading and investing is about growing wealth. While I may reach a point some day where my market activities produce sufficient income to suit my needs, I do not have any plans to shift to specifically focusing on trading as my profession. - John Forman

Article 2

People typically underestimate the amount of work that is necessary to learn how to trade stocks for a living. They seem to think stock trading can be learned in a few simple lessons. After all, isn’t it only a matter of learning how to "buy low" and "sell high," or invest in "story" stocks? The attitudes expressed and the questions asked by would-be trainees seem to suggest that people are looking for an ad that reads, "Learn how to use Bollinger bands, candlestick analysis, fibonacci retracements and the MACD by glancing over our 8-page easy to read pamphlet.."

We are not talking about being an investor or trader who wishes to enhance his or her income or develop a retirement nest egg.  Neither are we talking about a person who usually makes more than he loses in the stock market.  We are talking about generating a large and fairly dependable cash flow from which the investor can withdraw money on a regular basis to meet all daily living expenses, and which is the only source of money to meet those expenses.  To achieve this in the stock market, a person must be more consistently profitable, disciplined, and sophisticated as a trader than the average trader.  Some people, "naturals," can achieve this level of expertise much more quickly than the average successful trader.  However, the vast majority of people in the market are not "naturals."

Often, they believe that with a few simple lessons and after a few months, they will achieve a consistently high level of trading profitability in the stock market. The reality is that if they are lucky, they will lose money at first. Losing teaches some of the most important lessons a trader can learn. Making winning trades early can teach a trader some of the worst lessons, lessons that will have to be unlearned later. Most people will lose money at first. It may take a few years before the beginning trader can be relatively consistent at making more than he loses. Learning how to trade consistently well takes time.  In fact, most of the best traders never stop developing their skills.

The market has many very bright traders. They are people with whom you will have to compete. These are the "sheep-shearers." There are many more people in the market who lack knowledge and discipline. They are the "sheep." You can belong to either group. It is really up to you, and whether or not you can learn to control your emotions and inner conflicts before you run out of money.

There is enough happening in the market and enough variation in trading skill, that anybody who can strictly adhere to a good discipline can make money. It takes four years to get a BA, and three more years to get a law degree. Many professions require at least 3 or 4 years of work beyond the basic college degree to even qualify for a job, let alone become proficient in the chosen profession. Trading proficiency also takes time and work to develop. Some apparently believe that making money in the market is just a matter of finding a few good stocks. "Buy low, sell high…it’s easy money!" Buying low and selling high is certainly a fine goal. The key is to find an effective way of doing it in real time (as opposed to picking out highs and lows on a chart by hindsight). Bear in mind that the stock market is the ultimate competitive marketplace. Think about it. When an individual buys a stock, he is betting that he is making a smarter move than the person or institution selling it. For every buyer, there is somebody or, in some cases, something (a computer using sophisticated algorithms or artificial intelligence), on the other side of the trade.

The most important factor in good trading is discipline. Rather than intelligence, it is emotion that gets in the way of success. We all have emotions. A trader of average intelligence who uses a strict discipline and always keeps his emotions in check will easily outperform an undisciplined genius. The greatest enemy you will have in your effort to be a good trader is yourself.

For example, it is natural for untrained investors to gravitate toward "story" stocks because the "story" tends to provide an aura of rationality and competence to a decision based on inadequate information and hope. The "story" helps such investors believe that their actions are intelligent and wise.  We all want to feel we are competent in handling our own money. The excitement and "adrenaline rush" that often accompanies this kind of investing is a great motivator that tends to keep the investor’s hopes up and his attempts at "making it big" an on-going endeavor. The problem is that the aura of excitement regarding the prospects of the company clouds judgment and destroys discipline. Clear sell signals are ignored because the individual "believes" in the company and its future.

The "surface" of the investment world looks deceptively simple. What could be simpler than buying a good stock? There are thousands of "good" companies in which one could invest. However, there is a good time and a bad time to own even the best company. A stock is not necessarily good to own because it is the stock of a good company. "When" the stock is purchased and at "what price" are critical issues. Traders have an assortment of analytical tools available that most people have never even heard about, let alone understand.

The point here is not to frighten you away from the market, but to give you a reality check. Do not simply throw your money at the market. Study the investment landscape by reading a few books first. When you think you are ready to invest real money, use a very small portion of what you have and diversify that amount by putting no more than a tenth into each position. Do this for awhile and learn your hard lessons by putting only a small amount of money at risk. Otherwise, you are likely to lose most of your money quickly. If you want a quick and easy way to make money, forget about the market. If you are willing to lose money and suffer some ego-punishment while learning how to trade, you might have what it takes to gain professional-level proficiency as a trader.

You must learn to disect your trades.  After you close a position, you must spend time studying your buy and sell points and your timing.  You must look for your mistakes and things you overlooked, and then actually apply what you learn from your mistakes.  You will learn from your experience faster if you keep a diary of your trades. This process takes time and diligence, but it can really help a person learn from his or her mistakes.  Even if you do these things, there is no guarantee that you will actually become wealthy through your trading.  Think of it as training for a new job.

These comments might be a little discouraging to some readers, but keep in mind the context of these comments.  We are talking about generating a large and fairly dependable cash flow from which the investor can withdraw money on a regular basis to meet all daily living expenses, and which is the only source of money to meet those expenses.  Our concern is that there are too many people who think that making a living off their trading would be a snap.   They take far too much risk before they really know what they are doing.  They barely get started, get pounded by the market a few times, and then quit.  Or, if they don't quit, they lose all of their money.  Of course it is possible to make a living by trading stocks, but don't expect to be one of those who do if you are just a dabbler.  It takes work and persistence.  It also requires that you respect the risks of the market and the ability of those with whom you will compete.  Before entering a trade, you must learn to always ask yourself the following question.  "What could go wrong?"  You must also prepare a plan of action in case it happens, because it often will.  When it does, you will not have time to think about it.  You will have to act quickly. - Dr. Winton Felt


Tuesday, October 09, 2012

SCOMI Smooth Ride?


My happy face and all grin when seeing this counter $++++. Bravo! I bought in after sold out my heavy lost making INGENCO and enter SCOMI @ 0.375 on 28/Sep (Top up). My 1st buy is in early Sep @ 0.29. So I am now riding happily all the way up. :-). The question is, how long can the smooth flight ride up? Here is some of my analysis and hope it will be helpful for you.



All signal looks positive as for now. Base on the weekly chart the major resistance will be at 0.55. I will exit below this level. In order to stay awake, do monitor the level 0.45/0.46 (from the hourly chart above). It is the resistance bounce. If this level can successfully penetrate, 0.55 is achievable. How about the next? Hmmm...It may turn south towards 0.30 possible of 50% retracement base on the support area from the chart above. Remember, market is emotional,  sudden trend and target will change overtime. Hope for the best.


Happy Trading!

INGENCO Rebound Soon?

Well, I got a swept by bunch of big knives for committing an illegal act (indiscipline) by capturing falling knives. I lost somewhere around 5K for this trade exit @ 0.095 on 28/Sep after lost happen with ASUPREM day before. I think that week is bad week for me. :-( Hmm.. if my fingers does not itchy, it will be different story. Let us have a look of what in store for this counter.


From above chart, what I can know is that the downtrend is not ending yet. Since the support at 0.10 broken, I believe there will be another push towards 0.06 before seeing any sign of reversal. If look at the hourly chart, the price was trading all the way below the SMA for sometimes and hit the resistance and bounce back. As for the weekly chart, every new week it close at new low. I foresee there will be a reversal coming soon most probably next week. If there is no sign of  reversal next week. I will give up this counter as it will be a long way consolidation process. So I will stay alert till next week to buy again the lowest point as possible somewhere 0.06-0.07.

About the rebound target. I would look at 0.15~0.20. Depend on when it move up and how fast when the time come to hit the resistance. So stay tune and look for the reversal signal next week.

Happy Trading! 

ASUPREM How Far Can It Go?

This is my bad trade. The culprit is my illegal itchy fingers attempt to catch the falling knives. The another worse counter is INGENCO happen the next day. I exited @ 0.29 on 27/Sep and incurred 2k lost. This is the bad news. The good news is that I bought back this counter again yesterday (08/Oct) at 0.24 and now sitting on slight profit around 1K. :-) So let us look how far can the rebound go.


The reversal is confirmed on 08/Oct after it form a bullish engulfing. As you can see there is resistance at 0.30 level, which I think it will be hard to break-up. If it going to go, most probably will hit 0.33 area. For the overall trend ASUPREM still in the downtrend and high possible it will move south again towards 0.10 level (will see how the 0.30 level and possible double bottom formation @ 0.23). I suggest it would be best to sell out during this rebound. I will be exit below 0.30/0.31 and hopefully can gain profit of 3K this time to cover my losses. 

Happy Trading!