Dow Jones future -1165, -4.94%.
Light Crude Oil drop to 31 ~ 32 (drop 5% ~ 6%)

The closing is a dragonfly with long lower tail.

It means although the selling pressure is high in the morning (all the way want to press down to 1.05 < SMA 200), at closing it manage to push up the closing price = opening price = 1.1. It form a "T" candlestick which is a positive sign as buyer have control for the price at the end of market close.

If tomorrow opening is green, a technical rebound is possible.
Short term resistance :

SMA 10 = 1.18
SMA 90 = 1.25

Current support remain SMA 200 = 1.06.
Shall SMA 200 critical support remain strong without being breakthrough at closing, it will move thru & forte to test the resistance.
However if SMA 200 being breakthrough at closing, further downside is expected.

Take note that the downtrend is not yet over.

Dow Jones future (for tonight expected to drop -1165 points, -4.94%)

Today's closing is a long upper tail gravestone which is a bearish signal.
Tomorrow shall be a major correction.

The price had been up from end Feb 1.53 (lowest) to today 1.86 (highest), time for correction before it rally again.

IDSS short sell RM 1.43 mil (785000 units) at RM 1.824 average.
The high volume buy Q at 1.75/1.76 should be IDSS buy back volume.

They push down the price for buy back purpose.

@ OTB, I have to trade cautiously in this type of market conditions, and have to be very details in TA, on top of FA. Anyway thanks you guys and keep up the good works. I will stop here and will only re-enter when Jaks rebound and reverse to uptrend.

Anyway thanks Jaks and team here for sharing the power plants information.
I have profits along from Nov to Feb for consecutive 4 months due to Jaks (bought every end/beginning of the month and sold by 10th ~ 20th each month).

@hng33, I am holding zero Jaks stock. I sold all last month (bought 1.2x, sold 1.4x).
This week I bought a little by Tue morning < RM 0.9x, but sold all yesterday RM 1.0x as the TA really looks bad no matter how I optimized my confidence level which I had shared from time to time (I think you are the only one really read it, the rest maybe too busy for power plant calculation).

just my 2 cents although many may thinks that TA wont work at bad market conditions but I have different view :

1) SMA 10 crossover SMA 50 by Mar 5th => price at 1.26

2) SMA 10 crossover SMA 90 by Mar 9th => price at 0.96

3) Today SMA 3 crossover SMA 200 => price at 0.92 (lowest 0.89).

4) Next SMA 50 (currently 1.338) going to crossover SMA 90 (currently 1.294) within short term => this will be a Death Cross, I do not think the worst is over as there is no sign of reversal of trend.

Right now all the MMAs are moving downtrend, except SMA 200 is almost flat.

5) The last crossover will be SMA 50 with SMA 200 in long term => that will be the real Death Cross (which may or may not happen depends on how strong Jaks can rebound from bottom).

I will only enter when the downtrend ended with reversal of trend like Oct'19 last year.
It is too high in risk to catch a falling knife that nobody know where is the bottom. Unless one have very deep pocket to take the risk to keep buying & average down during a downtrend & waiting for rebound.

I will stop here as I believe concentrate in Gloves will make more sense in this period of time.

SMA 90 going to crossover > SMA 50 within short-term, another Death Cross with bigger waterfall is coming. It is a confirmed strong downtrend, just refer to March 2018's trend for how it fall down.

Do not catch a falling knife.

It will continue drop until below < 0.1.
See you guys when it break below 0.1.

Guys, be realistic, move over to Gloves.

I may not share much for Revenue from now on until I see a clear reversal from bottom and moving to uptrend. I hold zero stock for Revenue after I sold all at 1.4/1.41 x 2 times last month.

In current global market conditions, trade cautiously and do not buy during downtrend.

@ sammmmm, buy during uptrend, not downtrend.

guys, if you have free capital to invest, go to Glove as these are the stocks currently moving uptrend, even during outbreak & oil price drop.

@ Aseng, just sit back and relax, watch the waterfall.

@ Paktua, already smelled 0.8x is coming when it was 1.0x

Dow Jones future -965, -4.09%

@ NSKNSKNSK
@ scalded
welcome.
trade happily, have a cup of coffee and watch the show, just relax !

RM 0.89 now.
Time for Paktua team to rescue the situation.

@ Sslee, congrats

Public Bank need to update the forecast.
RM 1.13 is too optimistic.

RM 1.13 - RM 0.935 = RM 0.195 = Delta -17%.

guys, SMA 200 is RM 1.02.
now lowest is RM 0.935.
delta is 0.085 (8% - 9%)

take note that once SMA 200 broken and the gap getting big, it is a waterfall. Don't catch the falling knife. The trend just look similar to 2018 March. Trade with cautious.

always dream Big and your dream will actualize one day.

@ evan, ya, part of it.
I don't trade with no visibility, it is almost like trading blindly, 98% of traders lose money.

91 cents lowest, look like 80 cents is an achievable target.

@ Aseng, calm down, no need to follow others' behaviour.
Just a take a cup of coffee & relax !

We pick a stock to invest based on FA.
However, when to buy and when to sell refer to TA.

guys, 1.06 SMA 200 is critical support, if today's closing < 1.06, it will free fall to < RM 1.
however, if 1.06 support is strong enough, technical rebound from bottom is possible.

again, the downtrend is not over, trade with cautious.

If a trader sold RM 1.57 (highest) by Feb 20th, today can buy back x1.66 units at RM 0.945 (lowest). Delta 66% within 3 weeks.

@ c328, I only share based on facts and figures, not promoting any stock.

Look like it is not a dream to buy lower low, we need to dream Big.

This trend is expected, breaking SMA 200 => the confidence level broken as well.

Looks like opening will have another round of panic sell today, high possibility will trade below RM 1 again.

@ Mabel, when Q1 result released, it will come...

I am holding zero Revenue stock currently, I will only buy when it reverse to uptrend.

@ evan, in term of the business model, future prospect, yes, this is a rising star.

However, majority of companies in current market conditions will be impacted with price discount.
especially Revenue had been growing from < RM 0.2 in year 2018 to Jan'2020 > RM 1.5, it is time for correction before it grow further, which is healthy.

We pick a company to invest based on fundamental (FA).
However, when to buy or when to sell reference to technical (TA).

Some trader may buy high due to good fundamental & ignore technical, which may miss a lot of opportunity to stuck capital at holding high price.

We live in a rapidly changing global environments, almost every week situation change (trade war, Iraq war, outbreak, political issues, oil price drop, DJ drop..), it is important to stay alerts to trade cautiously nowadays and do not fall in love with any stock.

the purpose I share is to educate myself also need to be discipline.

Dow Jones dropped -3.5%, closed to 900 points at opening.
No one believe in Trump.

Things will develop in the opposite direction when they become extreme.
In Chinese we called 物极必反.

no worry, support will come just like last year when it reach 0.07, at least I will buy.

when Feb 20th, 2020 was RM 1.57, I doubt anyone ever dream of can buy 0.96 this week with delta of 61 cents.

and my 2 cents advice to day traders, unless you are very experience and highly professional contra players , do not play contra on KNM, the probability that you will lose is much more then you will gain.

during a definitive bear turn, hardly a normal traders like us can gain.
what we can do is patiently wait for the downtrend ended, and reverse to uptrend during a golden cross (when SMA 50 crossover > SMA 200, opposite direction vs. current trend), then only we enter, ride with the uptrend, NOT downtrend.

Guys, ever since Feb 12th, 2020, when price traded at 0.26, SMA 200 already crossover > SMA 50, it was already a Death Cross one month ago, and that was the time traders need to sell all and wait for the downtrend completed then only buy back at much much lower price.

Now the price already dropped for a month since the Death Cross happened.

What Does The Death Cross Tell You?
The death cross occurs when a short-term moving average (typically 50-day SMA) crosses over a major long-term moving average (typically 200-day SMA) to the downside and is interpreted by analysts and traders as signaling a definitive bear turn in a market.

@ michaelwong, just this year Q1 alone, we experienced trade war, Iraq war, outbreak, political unstable, oil price dropped, Dow Jones dropped 2000 points, fear of recession...

Just from a normal trader point of view with the only purpose to trade is to make profit, I really salute Jaks' die hard Fans (no offence).

The global environments change much more frequent then usual and we have to trade cautiously unless one have very deep pocket.

@ Sslee, salute...

@Sslee, if drop back below RM 1.00, it may end up the similar trend of March 2018 drop from 1.5x to 0.4x. It is not only can buy more, can buy 2.5x more.

Mar 5th, 2018 SMA 10 crossover SMA 50 => price 1.54
Mar 12th, 2018 SMA 10 crossover SMA 90 => price 1.5
Mar 19th, 2018 SMA 10 crossover SMA 200 => price 1.46
and it drop all the way from Mar to Dec at lowest 0.405.

compare to current week :

Mar 5th, 2020 SMA 10 crossover SMA 50 => price 1.26
Mar 9th, 2020 SMA 10 crossover SMA 90 => price 0.96
?? SMA 10 crossover SMA 200 => price ??

similar trend same period happened 2 years ago.
we all on board now based on confidence level, if SMA 10 crossover SMA 200 really happened and subsequent price trade at below RM 1.00, it will end up with a waterfall.

As far as I know (without knowing the result of the latest meeting with IBs) :

1) Public Bank's latest forecast of 1.13 already met this week for 3 days.

2) Public Bank's previous forecast of RM 1 also already met for past 2 days.

3) AffinHwang's previous forecast of RM 1.2 also already met 5 times from Nov to March, every month end / beginning of the month met, and this week far below.

Seems IBs existing forecast are all accurate so far.

Hope Jaks wont disappoint us to drop back to below RM 1 tomorrow.

@ WilliamUsana, welcome. I am learning thru sharing to remind myself need to trade with discipline as well.

@ newbie230, during a strong downtrend, normally it will have few candlestick pattern to reference for when to buy and when to sell :

1) Long red candlestick (Mon) : price rapidly drop from 1.22 to 1.08.

2) Long green candlestick (Tue) : follow by Mon's big drop, next day opening will have a follow up drop before it technical rebound to close in green. Price range from 1.01 to 1.12. => Buy at opening.

3) Gravestone candlestick (Wed) : follow by Tue's uptrend, most traders will continue momentum in the morning to chase high, that will be the time to sell in the morning while others are chasing high.

IF tomorrow is another long red candlestick at closing, it will form an evening star to continue the downtrend => retest SMA 200 1.06.
IF tomorrow is another green candlestick at closing, the consolidation will be continue thru & forte between SMA 90 & SMA 200 (1.06 ~ 1.25). Again, any technical rebound sell to take profit as downtrend is not yet over.

Only hold stock for long term during uptrend. Downtrend will be trapped if holding stock.

Bought yesterday < RM 1, hope tomorrow wont fall back to < RM 1

From Nov to Feb, each month after 10th, the trend will have significant rebound from bottom and all the way reach the peak by 20th => downtrend again by each month end for next month's cycle.

This month already 11th and it seems still struggle at around SMA 200.
Not sure is a delay pending for good news tonight or change of routine for this month.

Just for reference (TA point view) :

1) First time since Jun'19, SMA 3 touch SMA 200 at RM 1.02.
Jun 19th'19 SMA 3 crossover > SMA 200 => bullish trend.
This week SMA 200 going to crossover > SMA 3 in opposite way => bearish trend.

2) Momentum : this week price momentum is the lowest since Dec'18.

3) Today's candlestick closed with a long upper tail with red body => seller is taking control for the closing price.

Hope tonight we have good news to turn around the trend for tomorrow.

if there is any technical rebound, take profit first.
always buy low sell high and do not chase high.
it is in a consolidation stage, indecisive for whether to go north or to go south, trade cautiously.

if today's closing = 1.14 or below, it will form a gravestone, a signal of bearish mode.
if today's closing stay positive +/- 1.18, a signal of positive reversal trend.

Just ride on the trend

I am simple.
I sold at 0.425.
I intend to buy 0.07 as my target price.
The same fund after sold at 0.425 I can buy back 6x of units at 0.07.
I believe KNM will rebound, but not now as it is still downtrend.