Nana88---

Farmbes—Very bullish trading in a Uptrend Channel. It is under consolidation now after hitting a high of $0.78 on 25/04. It is now testing its important support of $0.66 (Also the uptrend support line), a break below this level with volume spell trouble as the uptrend channel is broken. As long it stays in the uptrend channel it is expected to test its immediate resistance at $0.70 if break will try to fill the strong Gap Resistance at $0.715/$0.725.

Happy Trading..

htyeap125--No, you are right, I made a mistake when putting in the formula on 24Apr..Thanks for pointing out.Appreciate it !!

The Acc/Dis for Willow should be:

24/04 1,405,700
25/04 1,535,722
28/04 467,622
29/04 (243,458)
30/04 (642,658)
2-May (623,100)

Do apologize for my mistake.

Happy trading..

htyeap125 –You are welcome !

The 1st set of figure 49,200 is obtained by Vol x MF which is (1,405,700 x 0.04), you see, you can't get 49,200 is because the actual MF figure is 0.035 that in 2 decimal is 0.04. I did the calculation in the spreadsheet and it actually multiplies by 0.035. Thanks for highlighting it.



Happy trading..

MrGala—You are welcome. There are too many things to learn in TA, so many indicators to look at. But I can assure you there is no Holy Grail, to make money you need to put on a good Trading Plan. That is the only way to make money in the long run.

ProfitMan—Thanks, I did not buy into GOB as I was looking at support of $0.98/$0.935.At about $1.02/$1.03 the risk/reward ratio not in my favor if need to cut losses at $0.935.
It is OK to take early losses, the signal that says BUY can often turn to SELL sooner than we thought. Taking losses is part of trading, just focus and hopefully you will find a new winner soon.

Happy Trading..

joyous---can I have your view on ktb?

I did the chart reading for KTB on 14/04 for miracle

KTB---Stage 2 of the cycle and it is very bullish. It hits the high of $0.32 on 10/04 and started its consolidation towards immediate support of $0.255 with stronger support at $0.23. Any consolidation offer buying opportunity for future play.Any rebound should find immediate resistance at $0.29 and very strong resistance at $032. (its previous high ). Exit if $0.185 is violated.—(14/04)

After the reading,
It did consolidate and found a new bottom at $0.205. If this level hold you can expect more rebound towards those resistance I mentioned.



Happy Trading..

Novice8,

CEPAT—Breakout from $1.06 ( consolidation breakout which is very bullish) which carry an estimated target of $1.26. It hit a high of $1.14 after the breakout and starts consolidation. May have found a new bottom at $1.02 so as long as $1.02 stay it is expected to move upward to its immediate resistance at $1.10/$1.14. Be cautious if $1.02 is violated as it shows weakness and consolidation will take a longer time. The next support is at $0.98/$0.965 if $1.02 is violated.

Happy Trading..

mr Gala, it is about the same as candle Volume or OBV (OBV use different formula, it works the other way). The Acc/Dis is useful when we use it to look for Divergence like many other indicators.
You will need a sspreadsheet​ to calculate it.

A) The first 5 columns

HIGH LOW CLOSE MF

24/04 $0.855 $0.820 $0.855 0.04
25/04 $0.895 $0.860 $0.895 0.04
28/04 $0.915 $0.880 $0.880 (1.00)
29/04 $0.885 $0.835 $0.845 (0.79)
30/04 $0.850 $0.840 $0.840 (1.00)
2-May $0.830 $0.805 $0.830 0.02


B) The last 3 columns

VOL MF VOL ACC/DIST

1,405,700 49,200 49,200
3714900 130,022 179,222
1068100 (1,068,100) (888,879)
900100 (711,079) (1,599,958)
399200 (399,200) (1,999,158)
782300 19,557 (1,979,600)

Using the High, Low, Close of the day you work out your MF value:

MF = [(Close - Low) - (High - Close)] /(High - Low) it will be either +ve or -ve. A larger +ve value with big volumes means accumulation and vise versa.

When you apply this into chart you want to look at 3 things for divergence:

a) The price is getting lower, the Acc/Dis is moving higher. Bullish divergence when it find its low it will normally move up. ( Remember do not just Buy when it start to show Divergence you must read it with say candlestick reversal pattern to confirm it has found new bottom)

b) The other way prices keep moving up but Acc/Dis keep coming down, a big pullback is on the way.

c) The price keep moving up with Acc/Dis means Bullish and vice versa.


Happy Trading...

novice8 --will look at Cepat for you tomorrow..

BORNEO OIL--Start to form Bullish Divergence between Price and RSI, some rebound can be expected in the near term.

HEVEA--—As suggested it break above $1.43 and tested $1.45 but yet again fail to clear $1.45. Formed an Upper Shadow today, which has bearish implication. Will clear Hevea if it can”t break above $1.45 soon.

Happy Trading and Good night..

Mr gala, just did a quick calculation for you on Willow from 24/04 to 2nd May:


24/04 49,200
25/04 179,222
28/04 (888,879)
29/04 (1,599,958)
30/04 (1,999,158)
2-May (1,979,600)

So you can see it is actually distribution of 1,979,600 shares during that period trading from $0.82 to $0.88.

Happy Trading..

safeWin, just got back, but still did not receive your email..

Ya, matrixcool02@gmail.com

Thanks

SafeWin—which email you send to? Please send to:
Matrixcool02@gamil.com ( 02-zero two)

MrGala—you can actually work out whether it is an accumulation or distribution from chart over that period. Willow needs to close the Fallen Gap at $0.84 first before moving back upwards.Formed a hammer on 02/05 and if break above $0.85 signal BUY and confirm the 3 candles Morning Star pattern which has bullish implication.

I am not free to work out for you as needs to take dad for further medical check up this morning and won”t be free until later in the afternoon. Anyone that can help Mr Gala here?

Happy Trading..

05/05/2014—Weekly Summary
1) 3A-- AV Price=$0.89 (Closing=$0.88 , P&L= 0%), Stop Loss=0.865 . Risk= -2.80 %. Tp1=$0.97 , TP2=$1.00/$1.02. (Exp Trading Range $0.88 to $0.925 ).
Note: A very low risk Buy for 3A as I bought in near the Stop Loss level of $0.865. It is still under consolidation around its important support of $0.88, the price is expected to stabilize around this level. Any rebound will find resistance at $0.915/$0.925. If break above $0.925 (Signal Buy and I may scale in more shares) to its next target of $0.97. In the event that $0.88 fails to hold 3A is most likely to fill the Gap formed on 18/12/2013 at $0.875/$0.865. I will take my losses if the gap support is violated as the next meaningful support is at $0.82.

2) BARAKAH-- AV Price=$1.61 (Closing=$1.68, P&L= +4.30 %), Stop Loss( 2) =$1.58. Risk= - 1.80 %. 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 I bought in at $1.61, it hit my TP1 of $1.70/$1.72 but fail to close above it.The upward is still intact and it is expected to re test my TP1 and a break above will take it to my TP2. Any weakness should find support at $1.66/$1.63 and strong support is at $1.60/$1.58. I have increased my Stop Loss from $1.48 to $1.58 to reduce my risk to below 2%.
3) BORNEO OIL-- AV Price=$0.672 after Scale In (Closing=$0.645, P&L= -4.0%), Stop Loss=$0.625.
Risk= -7 %. Tp1=$0.69, TP2=$0.73/$0.745. (Exp Trading Range $0.635 to $0.67 ).
Note: After hitting a high of $0.72 on 11/03 it has been consolidating for the past 7 weeks. It showed more weakness last week by breaking below support of $0.65, now it is settling around its new base at $0.635. It is still bearish, but the downward momentum has slowed down and any rebound should find immediate resistance at $0.66/$0.67. Unless it could breakout from $0.67 (its immediate down trend line) it will stay on the downward movement. I may clear if can”t break above $0.67 and take some losses to release my capital
4) BREM-- AV Price=$2.03 (Closing=$2.07 , P&L= +2.0 %), Stop Loss=$1.90 .
Risk= -6.40 %. Tp1=$2.20 , TP2=$2.26/$2.30. (Exp Trading Range $2.02 to $2.20 ).
Note: Break out from the Symmetrical Triangle on 28/04 Brem is expected to scale higher from here. It is bullish and upward momentum is intact, a break above $2.12 will retest immediate resistance of $2.17 and TP1 of $2.20 .3 black candles for the past 3 days so any weakness may find immediate support of $2.05/$2.02.

5) HEVEA-- AV Price=$1.34 (Closing=$1.36, P&L= +1.50 %), Stop Loss ( 2)=$1.30. Risk= - 3.0%. Tp1=$1.45/$1.50, TP2=$1.58/$1.60 (Exp Trading Range $1.30 to $1.45 ).
Note: As suggested last week after hitting my Tp1 at $1.45 it consolidated to the immediate support of $1.32 and hold above. Consolidation looks over so it is expected to rebound further to $1.39/$1.43. A break above $1.43 confirm price reversal ( break out from its immediate down trend line ) to re test Tp1 of $1.45/$1.50.Any weakness should find immediate support at $1.32/$1.30. I have raised my Stop Loss to $1.30 to reduce my risk to 3 % or may sell if if can”t break $1.43 to release my capital.
6) PRTASCO-- AV Price=$1.89 (Closing=$1.90, P&L= 0%), Stop Loss=$1.80 .
Risk= -4.8 %. Tp1=$2.00/$2.04 , TP2=$2.10/$2.14. (Exp Trading Range $1.86 to $2.00 ).
Note: Stage 2 of the cycle and very bullish, it is forming Flagpole pattern with bullish flag. Immediate support adjusts to $1.86 which was tested, and holds, so some rebound can be expected in the near term. Any weakness offer buying opportunity for future play. A break above the $1.93 signal breakout from the flag and to re test its immediate resistance at $1.95 (Also the Engulfing Bear formed on 17/04 that needs to be taken out) & if breaks it is expected to test my TP1 of $2.00/ $2.04 and into uncharted territory.

7) WCT-- AV Price=$2.263 (Closing=$2.25, 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: The scenario remains the same for the past 3 weeks, stage 2 of the cycle very bullish after breaking out from $2.20 , traing from $2.18 to $2.30 . The landscape for upward movement has improved and it is expected to retest its immediate resistance of $2.28/$2.30 in near term. 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. I have raised my Stop Loss to $2.18 to reduce my risk to 3.7%

I sold PANTECH at $0.995 to release my capital for other stocks.

I am selling the remaining 50% of my JCORP

I am trading at my Max of 7-8 stocks so i am not buying into any stock.

Happy Trading..

P/s: SF We are learning everyday on TA.. As i always say TA is only good to use as a guide.

connie, i am proud of you that now you are into Elliot Waves, I found it really hard to read correctly, especially when the sub waves come in between main waves. It is easier to look backward at the previous waves, but to look forward is not so straight forward. Yeah, I find the 4 stage cycle easier to read, the duration of each stage is not possible to read through. That is why I set the Trailing Stop just incase it turn from bullish stage 2 to Distribution stage 3 or sometime straight to stage 4.

I appreciate profitMan works and admire his ability, I am so glad he comes in to help others forums here. Not forgetting SF, htyeap and others that contributed.

Time to get ready for dinner and football night..

Enjoy your dinner too..

Thanks profitMan and swee_on..

safeWin, you can send to my email and let"s learn together. If you are a working full time you may want to trade those FA counters. For short term traders like me we do need to spend more time monitoring.

Have a nice weekend.

Hi Connie, so happy to see you here. Ya, i know it is quite long winded and it is only on Momentum. Just try to tell newbies on TA not to be over dependent on indicators..
i know you love waves and i admire TA that can read waves accurately.I find it quite confusing. So choose the lazy man way out..

Ha,son is taking his cousin sister to movie today, SpiderMan 2 ..After that will take them to Thai Restaurant A-Wet for dinner..


You have an wonderful weekend too..

winwinborn, profitMan cover the TA of Latitude earlier so I will let him update you on it. profitMan, do help winwinborn, when you are free.

SafeWin--. Would like to understand your statement "MINHO momentum is slowly building up" shall refer to which TA indicator? Thanks.

MOMENTUM

Welcome to this thread and we are happy that you are in TA too . The main aim of this thread is to encourage more traders to use TA as a guide for entry and exit.
If you have followed this thread I do not use many indicators for my TA. Too many indicators can really confuse you and impair your decision to get into a good trade sometime.
I am not sure what software you are using for your TA, but many like Metastock do provide momentum indicator.

Momentum measures the velocity of the price changes. If you do not have a momentum indicator it is very simple to construct.
To construct a 8-day momentum line, simply subtract the closing price 8 days ago from the last closing price.It will give you a value either is positive or negative. By measuring the price difference over a fixed period of time we can actually recognize the speed of that price movement.

Now the confusing parts come in when you use indicators, I have used all before from SMA, RSI, Stochastic, MACD etc. and sometimes it works, sometimes it fails. Then I realized that every individual counter has their own DNA that certain indicator is more suitable for that particular stock. That is why I keep telling TA newbies to try not to read too much into indicators.

Now I tell you something even more amazing, by changing the period of that momentum the signal of Buy and Sell is almost identical to Stochastic, RSI and MACD. Try it yourself, because all indicators are all derived from the prices that they are almost all the same. So if you do not have momentum indicator just use Stochastic, RSI, MACD they are also just like momentum indicators.

Now let”s use MINHO as an example (please do not take this as a Buy or Sell decision), this is more for TA discussion purpose.

1) All indicators are worthless when price is moving sideways ( Minho from 12/09/2013 to 19/03/2014 for almost 6 months). Only look at indicator when it is Trending up or down. MINHO started its upside trend on 20/03/2014.
2) Now you look at MONHO chart pattern, by drawing a horizontal line at $1.13 then join the all the low from 19/03, you will see that it forms a “Ascending triangle” right? On the TA point of view, with the increase momentum it has a good chance to break out from the Triangle.
3) Let”s says now we use these 4 signals on MINHO and compare to other indicators:
a) 5 Days Momentum—Almost same signal as Stochastic
b) 8 Days Momentum—Almost same signal as RSI
c) 12 days Momentum—Almost same signal as MACD. ( It even formed a Double Top formation on 04/04/2014 which signal Sell and same day MACD signal Sell).
d) 15 days Momentum—Breakout from its down trend line yesterday.

Now to those that are new to TA which period will you use? And this is only MINHO I am talking about and any other counters are different. Confusing right?

4) For MINHO I am using a 10 days Momentum reading ( if break $1.13 it is breaking out from Ascending Triangle on the chart pattern and also a Cup & Handle pattern on Momentum chart, both have bullish implication), and yesterday it shows the velocity has increased.why do I choose 10 days because it is the best period for MINHO on the chart, if I use it on another counter it may show different signal all together.

Now let”s say I like its chart and interpret that the momentum has increased it should be breaking out soon, I want to enter the trade. I am optimistic and eager to enter, but before I enter I work out the Risk/Rewards ration, my Stop Loss level first. The trading plan is the most important factor when buying any stock not how you feel emotionally.

MINHO—That say I buy now at $1.10, I will set my STOP Loss at $1.03 ( that mean instead of breaking out it break down from the triangle and prove that I am actually wrong ,I will take my early losses.)

Let say I am right, it actually breaks out and stay above $1.13 I will scale in more share in pyramid way. Then I will raise my Stop Loss to be just below $1.13 to protect my capital. If it keeps going up then I will set trailing Stop to protect my profits.
Hope this help.

lsy7—you are welcome.. Not me who quoted it, but Mr Warren Buffett.
Have a nice weekend..

Have a nice weekend…

Just got back…

Thanks profitMan for helping all the forum investors here..I totally agreed with your “philosophy”..

lsy7—Thanks for the kind words..Remember be greedy when others are in fear. Quoted by Warren Buffett.

MINHO—Yet to break out from “Ascending triangle” but momentum is slowly building up..

BARAKAH—Hit my TP1 of $1.70/$1.72 but fails to close above $1.70 .

Cleared all my PANTECH at $0.995 to release my capital. Novice8, I had put in my post yesterday to clear Pantech because I do not like the Engulfing Bull formed on 25/04 turn up to be the last Engulfing Bull.

Have a nice weekend…

Thanks everyone for the kind words, don”t worry, I am not concerned by kk123 comment and I actually want to thank him for making that comment. He was right, it sounds unbelievable, but actually I have the best month in stock trading in April 2014 so far..

林俊松—I forgot to mention last night I am holding Pantech and if you read my post I may clear this counter to protect my capital.

choolooi—You are right my aim since day 1 to start this thread has been to show, especially newbies that one can actually make money if we trade with a plan, TA can only use as a guide. Be disciplined and take your losses early if the trades are against us.. Keep locking in profits when the opportunity arises.

Novice8, Thanks for sharing Minho. It is still bullish but you know I am trading at my Maximum stocks so unless I can clear some of the stocks in my portfolio I would not be buying any stock at the moment. As I mentioned, I am looking at Engtex and Gob..

Minho—Uptrend is still intact, it is forming a ‘Ascending Triangle” which has bullish implication. A break above $1.13 with volume signal breakout and it should be heading toward the target I mentioned in my earlier post. Even though the strong support is at $0.935 but a break below $1.00 mean it breakdown from the triangle which has bearish implication. Yes, it did form an inverted hammer with lesseer volume, but the candle is not significant enough that it is a price reversal. The real BUY signal come if it breaks out of the Ascending triangle.

Oops, need to go out whole morning today..

Happy trading..

林俊松 matrixcool, which counters r good to enter for May?

I am still holding the following stocks from April to May;
Borneo Oil, Hevea, Barakah, Brem, WCT, 3A and I just collected Waseong. I am still selling Jaycorp..
kk123 >Welcome to our thread.. I can understand your sarcastic comment and I am not surprised about your comment. If you have followed my trades over the years you will find that there are months that I actually incur losses, that is human nature that no one can accept sometime that we do win ( like a lot of traders can”t accept they are wrong that they need to cut losses). But if you go back to the thread since March 2013 then maybe you will find that I actually recorded every trade I bought and sold..

林俊松—don”t worry, once you trade well you will start to make money in the stock market.

To all others that been following this thread like : inwest88 , winwinborn, yoda88 , ProfitMan Nana88, cbyeoh , htyeap125 and novice8, thanks for your kind words, I think you all know very well that on every stock and I bought every stock I sold I updated almost every day on my thread..

novice8, thanks, I wish I can keep it up, but you know month like April 2014 does not happen all the time..I look at my portfolio now I may need to take some losses at Borneo Oil and Hevea..

Happy Trading and good night..

1st may 2014
April has been a good month for me, I closed
1) REDTONE lock in 13.70 % in 5 weeks trading
2) GADANG –Lock in 13.64% profits in 6.5 weeks trading
3) MUDA—Lock in 12.7% profits in 2 weeks trading.
4) ORNA—Lock in 10% profits in 5 weeks trading
5) PADINI traded twice last month, total lock in 10% profits in 4 weeks trading.
6) MINHO lock in 10% profits in 1 week trading.
7) SCOMIES—Lock in 8.7% profits in 4 weeks trading.
8) MAYBULK—Lock in 5.4% profits in 8 weeks trading.
9) ENGTEX Lock in 3% profits in 7 weeks trading ( the last 80% of the shares hit my Stop Loss to protect my capital)
10) BARAKAH lock in 3.3% in 4 weeks trading.
Out of 10 stocks I closed not even one is a losing stock in April, very happy with the profits last month. JAYCORP I have sold 40% and still waiting to clear the remaining 60%.

BARAKAH—Trying to break above its immediate resistance of $1.69 and to my Tp1 of $1.70/$1.72. If break will try my TP2 of $1.78/$1.80.

PANTECH—The engulfing Bull formed on 25/04 confirmed to be the last engulfing bull, do not foresee it can hit my target in the near term. May clear on any rebound to protect my capitals.

PRTASCO—Need to break $1.95 its immediate down trend line to complete the Flagpole pattern.

WASEONG---It is trading near my Support 2 of $1.98/$1.95. I may add if $1.95 stays.

ENGTEX—I am monitoring ENGTEX for another entry as it is oversold and it is trading near strong support of $1.86/$1.84. Price is expected to to stabilize and any rebound should find resistance at $2.00/$2.02.

GOB--As suggested by profitMan,looking at its support of $0.98/$0.935.

inwest88 --welcome back it is always nice to hear from you again.

profitMan--Thanks for clarification of the wave count on willow..ha, Visit Malaysia year mah this year..

oops, need to get ready for a wine and dinner..

Happy Trading and good night..

wongchowsang—welcome to this thread.

stay_foolish, thanks for you info on GST rally and your good works on TA analysis to help out.

I Would like to add ( as I trade differently from many others and this is for sharing only) on your comments of:

# SKPetro --You have to decide whether you wanna cut the loss short or averging down. #

I personally discourage any average down, only loser average loser. Since wongchowsang is a longer term investor( the way he express to give 3 months) then he should observe those supports you mentioned. If the support holds, then he may want to add when it is moving back up. Never catch a “Falling Knife”.

#Willow- Stage 2 accumulation stage#.

Are you using wave count? Then would suggest you use wave2 instead of # stage2.#
If it is 4 stage cycle, stage 2 is the bullish stage and not an accumulation stage.

Just sharing the way I trade and as I always say many may not agree with my way.

Thanks everyone for the information, today, just goes to the Batu cave first after breakfast. Would be busy because having a wine and dine dinner with my running group..Kheng, don”t worry, I am not a gambling man. Go to Genting also sight seeing and making makan..

profitMan, thanks for your detail TA on GOB, I will put it under my watch list now..

Happy trading..

ProfitMan—Ya, not very good as a guide..Few places come to my mind:
Twin Tower, Batu Cave, Genting Highland, Melaka, Pulau Redang maybe Ipoh..

Thanks for sharing GOB..

swee_on—Connie is very kind, we welcome you and if you need any TA reading just post it here we have profitMan, SF,htyeap & others to help you.

BARAKAH—still can”t break its immediate resistance of $1.69 to my TP1 of $1.70/$1.72.

Happy Trading..

ProfitMan, don”t worry we win some and we lose some..Ya, it is my best month so far even better than February.
swee_on—Welcome to our thread.

kheng & air01557—Thanks for sharing information, air1557 is there anything you want to tell us in details the main reason to sell in May? Appreciate it!

novice8—Ha, quite true, my niece from Thailand staying with us for about 1 month..So need to take her jalan jalan and look see look see Malaysia this month..

winwinborn—Ya, when I sell the stock I will let forum investors know first I am selling. I am still holding WCT and will Scale in when it breaks $2.30 with volume as I have only collected my 1st purchased at Av cost of $2.26..Thanks for sharing the Edge link on the WCT, I do agree with their target of $2.55 too as that was my TP2 by calculation. The problem of this stock as I mentioned earlier is it has lots of overhangs to clear because it just started its stage 2 cycle after breaking out from stage 1 consolidation..


Happy Trading..

novice8,wow.. you are early..
I am going out to airport this morning to pick my niece from Bangkok..
ya, end of April, best month thus far for me in 2014..

Happy Trading..

jacky, i am still holding Borneo Oil as it has not hit my stop Loss level, but it is getting closer to my Stop Loss level. Very disappointed with its performance after hitting high of $0.72 it has consolidated downward for the past 6 weeks..Still, the mid term uptrend is still intact..

Good night..

30/04/2014

PRTASCO-- AV Price=$1.89 (Closing=$1.89 , P&L= 0%), Stop Loss=$1.80 .
Risk= -4.8 %. Tp1=$2.00/$2.04 , TP2=$2.10/$2.14. (Exp Trading Range $1.86 to $1.95 ).
Note: Stage 2 of the cycle and very bullish, it is forming Flagpole pattern and if break above $1.95 (Signal Buy I may scale in more shares) it is expected to test its previous high of $2.04 and into uncharted territory. Immediate support is adjusted to $1.86/$1.85 and any weakness offer buying opportunity for future play.

3A-- AV Price=$0.89 (Closing=$0.885 , P&L= 0%), Stop Loss=0.865 .
Risk= -2.80 %. Tp1=$0.97 , TP2=$1.00/$1.02. (Exp Trading Range $0.88 to $0.925 ).
Note: A very low risk Buy for 3A as I bought in near the Stop Loss level of $0.865. It is still under consolidation and needs to break above $0.925 (Signal Buy and I may scale in more shares) to its next target of $0.97.The support of $0.88 has been tested on many occasions and holds, so price should be stabilized around this level. In the event that $0.88 fails to hold 3A is most likely to fill the Gap formed on 18/12/2013 at $0.875/$0.865. I will take my losses if the gap support is violated as the next meaningful support is at $0.82.

BREM-- AV Price=$2.03 (Closing=$2.08 , P&L= +2.50 %), Stop Loss=$1.90 .
Risk= -6.40 %. Tp1=$2.20 , TP2=$2.26/$2.30. (Exp Trading Range $2.02 to $2.20 ).
Note: Break out from the Symmetrical Triangle on 28/04 Brem is expected to scale higher from here. It is expected to break above $2.12 and retest immediate resistance of $2.17 and TP1 of $2.20. Any weakness toward immediate support of $2.05/$2.02 offer buying opportunity for future play. I will definitely Scale in more shares when it breaks its strong resistance.

HEVEA—Briefly break below the strong support of $1.32 and I was thinking of clearing it to protect my capital because a break below $1.30 it is most likely to hit my Stop Loss level of $1.24 soon. It has turned bearish in the short term. May clear on any rebound to protect my capital.

I cleared Engtex when it hit my adjusted Stop Loss at $1.97 to protect my capital.
I also cleared my remaining 50% of MUDA at $1.86 to lock in 12% profits.

Note: MINHO and ENGTEX closed with Hammer formation, price reversal?

Happy Trading and Good night..

p/s; Jacky, ya, it has been awhile since we last heard from you, welcome back !!

ProfitMan—Thanks for latest update on PRTASCO. I Q at the support at $1.86 today and it was hit this morning..

Novice8, It hit my Stop Loss level when $1.32 is violated today, I am expecting it to rebound above above $1.32, if not I will sell my remaining shares.

Happy Trading..

profitMan, thanks for sharing info on Vis and Wong..ya you are right those that average down when think it is cheap most likely to find it getting cheaper..

Are you in GOB ?

miracle4faith --So many stocks look attractive now..

Happy Trading..

miracle4faith --yaya..don"t get too greedy.
So many counters look attractive now..

Happy Trading..

choolooi—you are so right. The stock market is ruthless when it is heading south, all FA /TA becomes hopeless because we are dealing with human fears, nothing to do with the company performance.

tccher—Thanks and as per my posting tested its support of $1.60/$1.58 but holds.Still not out of wood yet..

novice8—Ya, good time to accumulate some stocks as the risk is getting lower, I collected PRTASCO earlier in $1.92, today, buy in at $1.86.. Now Av at $1.89…Stop Loss if $1.85 is violated taking 4 cents risk..need to break 41.95 to be bullish again..

Happy Trading..

jennylee1382—Remember to execute your plan, look at those level that you suppose to take losses if it is broken with volume do sell. If it is small volume due to weak holder wait and see whether it rebound back..Situation like this need to be cool headed and carry out your trading plan accordingly.

MrGala >Ya, lots of theories and some will claim they have warned us. When it started to rebound, some will claim they bought cheap. I heard all these stories before.

Bought in some PRTASCO at $1.86..


Happy Trading..

kheng—You are welcome and thanks for the kind words, profitMan, SF , htyeap also help out a lot in this thread too. Visit us more often and you can ask about TA on any stock here, we will do our best.

novice8—This is stock market, days like this always happen..remember to be disciplined.

Cleared ENGTEX to protect my capital and MUDA to protect my profits..


Happy Trading..

kheng---I did the chart for cherry tomato on 12/03,

#MITRA—Very Bullish, after trading in the rectangle for almost 2 years plus, it breakout from $0.525 on the daily chart with volume and carry an immediate target of $0.585, TP2=$0.625 and long term target of $0.725.It is very bullish and any consolidation should find support at $0.555 and strong support at $0.525( Resistance turns support). Any weakness offer opportunity to collect for future play. Exit if $0.465 is violated.-- Cherry tomato( 12/03)#
After the reading, it actually broke all those targets I mentioned in March..
Stage 2 of the cycle and very bullish. Breakout from the round bottom on the weekly chart (Bullish implication) and has an estimated target of $0.79/$0.835.if break may try its previous high of $0.925/$0.935. Immediate support adjusts to $0.705/$0.675 and any weakness offer buying opportunity for future play. Congratulation, you are on a winner, but do remember to set a Trailing Stop to protect your profits in case there is a big pullback.

miracle4faith > Thanks, did not jog this morning as wife having a headache (ha, women with their headaches, day and night now..). Don”t worry will definitely highlight if I spotted any counter that gives a reversal signal. As long as you understand that it can be a false signal sometimes too..

ProfitMan—I totally agree with your observation..It is so easy when trades are in our favour..Lots of Hu-ah and become greedy..When it is against us the inner us will not accept that we have made a mistake. Finally, we end up as ‘involuntary investors’. I remembered last November 6 counters hit my Stop Loss and it was my worst month in 2013 which I incurred losses. Still life goes on, I manage to keep the capitals for new trades.

SpeedyBoy—You are right but choosing stock becomes more difficult, even yesterday they are 200+ counters that actually go up.



Happy trading

MrGala—I totally agree with you, when people are in fear it is good times to collect some stocks..I will wait for for maybe a confirmation candle to enter any trade..Thanks for sharing..

miracle4faith—Good one about Ajib..Ya let blame someone except ourselves..

WaSeong—The next support if break below $2.00 is $1.98/$1.95.. I may take some losses if break below $1.95...

kheng---Mitrajaya—I will look at it for you tomorrow. It is late now I need to wake up early for tomorrow morning jog.


Happy trading and good night..

CityTrader --ya you are right it is all human reactions..
It is hard to accept when the trades are against us..many of us just refuse to accept we are wrong and keep asking why? why? My friends even blame it to US President visit..

Happy trading..

novice8—As long as you know what to when trades are against us you can buy any stocks..I will update Waseong later..
I have cleared all mu ORNA to take my profits and I am sure I did tell you about that..I will look at it too for you later..

miracle4faith , I am trading every month whether it is May, June or whatever.. I can understand when the market is down, there is always GURU of Doom around.. It is nothing new or anything to get excited about..It happens before and it will happen again next time..

TDEX--anyone profitMan , SF or htyeap. Can you help miracle4faith here?

Happy trading..

ProfitMan

3A—It may not be ready, but if you take $0.88 as your Exit point like me, I think it is a very low risk Buy.. I actually Q mine at $0.895/$0.89/$0.88 and I was hit and bought some at $0.895..I can tell you this if it breaks $0.88 I will be out and take a few cents loss..

ptofitMan, this is my observation from this thread, when stocks are going up and everyone is Uh-ah.. There are many requests for charts.. When the market is down it becomes real quiet. My wife was asking me at dinner; “ you seem to be so relaxed and not rushing back to computer.. I told her market is down many traders still can”t accept what they bought are going down.. They are excited to know what is the next target for the stocks that they bought, but hard to accept they may be wrong and need to take losses..

Happy trading..

Joyous—This is the stock market, it is all about traders' emotion. So you can expect Up, Down, sideways as long as you are trading. My friend blames it on President Obama visit (he actually what’s up me and give a Thumb down) !! Just execute your trading plan you should be ok..

splendid_ignorance—-Most of the counters are down, but if you have been in the market long enough I do not see anything unusual (Or did I miss anything?)

pathew

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.-- Warren Buffett

CBSA –If break $0.385 it completes its Double Bottom formation and become very bullish..

Happy Trading..

ProfitMan—Not over yet for Liverpool. Have faith.

Ya, for 3A just be patient, I am not chasing it but try to buy as close to $0.88 as possible..If something went wrong the Stop Loss is so little it is no pains..

jeje-I did K1 chart reading for Sunlight on 14/03.

#K1—Stage 3 of the cycle (Distribution stage) and the price can be volatile. Rectangle trading between $0.30 to $0.37. Unless it could breakout from $0.37 with volumes then it will re test its previous high of $0.41 and possible target of $0.45. A break below $0.30 will find next support at $0.28. Exit if $0.28 is violated as it signals may be start of stage 4 of the cycle. —sunlight (04/03/12)#

After the reading,
The scenario remains the same, It is still in the rectangle trading. It needs to break and stay above $0.41 to carry on its previous stage 2 of the cycle.

splendid_ignorance-As per my posting last night to Min Min, if break below $2.00 the next support is at $1.98/$1.95. I did mention that if this support is violated Waseong shows lot of weakness. I went in this morning at $2.03.

gerry188—You are right profitMan is good at its TA & FA..

pathew—Everyone is learning here only some of us paid school fees before to the stock market. I was burned badly before..

Happy Trading..

novice8—Sometime I am wrong too.. Caught in Bull Traps many times too..

winwinborn—WahSheong still can”t break and stay above $2.10..

ProfitMan—Very good analysis on BJAuto. Oh yeah, I just read that Liverpool lose last night (oops, sorry about that), I was late for the game managed to watch some part of Man City vs Crystal Palace.
Ya, very happy with BREM performance today. Don”t worry for missing out this time, many stocks to trade but most importantly not over trade and become greedy..

MIEHO—are you in as well?

3A—I am Q-ing to buy in slowly, I think support of $0.88 holds water. Consolidation could be over if break and stay above $0.925 to give an immediate target of $0.97.

Happy Trading..

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..

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..

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..

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..

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..

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.

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..

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.

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..

Nana88--
Very good question, I would like to share with you how I Scale In and what do I mean overhangs.

a)Scale In--When you decided to buy in a stock after analyzing the Risk/Reward ratio etc the first purchase in the Most important.If that say I would like to have up to 50,000 shares of this stock, my first purchase would be say 30,000 shares. Let say we buy this stock at $1.00 and the next “Strong” resistance is at $1.20. If this “Strong” resistance is taken out with volumes I will scale in say 15,000 shares that is 50% of the original purchase. And if the stock do performance to my expectation and keep moving up say the next resistance is at $1.40, and if break this time I will only scale in the last 5,000 shares to make it 50,000 shares. ( After the Scale in I will raise either my Stop Loss level or Trailing Stop to protect my capital or profits).
Note:Strong resistance means previous high, downtrend line, completion of bullish patterns like Cup&Saucer, Double bottoms, Triangle etc..That is the time I Scale in.
For example, say MUDA which I already sold 50% of my share when it could not break my TP2 of $2.00 to lock in my profits, but if it does break $2.00 later I will scale in but at a lesser quantity. Now my Trailing Stop is set at $1.84 but if I Scale in say at $2.00 and my average cost increase accordingly I will raise Trailing Stop to a higher value.

b)OVERHANGS—An Overhangs are the stocks that have many resistances to clear, normally it is those stocks that just break out from stage 1 into stage 2 of the cycle, example WCT, it is very Bullish after breaking out of $2.18/$2.20 but due to its previous high there are many traders that were caught earlier . Most of them refuse to cut losses at an earlier stage and watch their money disappear everyday so now if their losses is reduced they will sell to get out. But when these sellers are taken out it should be moving higher.
Note: That is why those counters that keep setting new high are the one that are without overhead resistance. Those new high counters all indicators are worthless, RSI could be well over 80,90 for weeks, stochastic could be 90-100 for days/weeks..

Happy Trading..