Morning session closed at RM1.04 with 15.70M shares changed hands.
81.88% of the trades today were done between RM1.01 to RM1.04, a positive sign of advance, likely indicating that in the afternoon session the shares would be trading in the range from RM1.03 to RM1.06.
The daily chart today shows ‘Harami Cross’ after Friday’s ‘Hanging Man’. The 15-minute chart shows a triangle with volatility getting lower and lower.
All of the above tells me that we are in strong collection phase with savvy traders actively collecting from RM1.00 to RM1.03.
Strong support can be seen at RM1.00, indicating the share is unlikely to break at that level.
In order to control the tight spread, savvy traders put up more sell queue than buy queue.
This is a good sign as prices usually drop after showing ‘Hanging Man’ candlestick, especially after 4 consecutive strong days of rally.
It is worth noting that the share price has gapped up once again, for 7 straight days in a row since the HOA announcement. An excellent sign of supreme confidence in the stock.
We should expect the sideways consolidation/accumulation to occur for a few more sessions before the share price move towards RM1.30; RM1.40 and RM1.50 in an explosive upward surge.
It is a fantastic time to collect now between RM1.01 to RM1.04.
President Biden is favours to world trade ! World economy will start booming from today onwards ! And asian stock markets including KLSE will be in bull market from today onwards ! As at 2.10pm, Hang Seng : 26,095.46 (+382.49) (+1.49 %) Shanghai composite: 3,380.38 (+68.23) (+2.06 %) Nikkei : 24,912.31 (+587.08) (+1.41 %) Taiwan Weighted : 13,127.47 (+153.94) (+1.19 %) Korea Kopsi : 2,449.96 (+33.46) (+1.38 %) Singapore STI : 2,611.34 (+32.66) (+1.27 %)
(Bloomberg) -- Oil in London jumped by the most since June as Pfizer Inc. reported a potential Covid-19 vaccine breakthrough.
Crude futures spiked following news the vaccine, being developed by Pfizer and BioNTech SE, prevented more than 90% of infections in a study of tens of thousands of volunteers.
Markets globally surged. WTI climbed more than 10% in New York, while global equities soared. It led to broader strength in the oil futures curve, with timespreads also moving sharply higher.
A vaccine “would be the most meaningful type of mitigator to the situation,” Saudi Energy Minister Prince Abdulaziz Bin Salman said prior to the Pfizer announcement at a conference on Monday. “We’re still hopeful that vaccine is found and that vaccine or vaccines spread and hopefully mobility would be regained.”
Since Covid first emerged, oil markets have been steadily recovering from the biggest crash in consumption in a generation. Transport use in Asia has rebounded strongly, but the renewed resurgence of the virus in Europe has continued to weigh on demand in the region. The emergence of a vaccine would not only help regions suffering form renewed lockdowns, but could also help spur the return of aviation demand -- the hardest hit corner of the market.
The relief in the market was seen in the profits from turning crude into transport fuels. Gasoline cracks in the U.S. reached their highest since mid-October, while those in Europe also gained. Jet fuel was also gaining relative to the value of other transport fuels in Europe, Bloomberg fair value data show.
Prices had earlier rallied as Joe Biden declared victory in the U.S. presidential election and began preparations to navigate America’s pandemic-hit economy out of crisis, with potential shifts coming on a range of policies from fiscal stimulus to Iranian sanctions. At the same time, Saudi Arabia said that OPEC+ could extend oil cuts through 2022 as the group seeks to re-balance the glutted market.
Vivocom’s share price closed at RM1.02, up 2c from last Friday’s close.
In the afternoon session, range trading prevailed with 99.72% of the trades done between RM1.02 to RM1.04.
Total volume done was 20.30M, which confirmed that we are in consolidation mode, and that the shares can be expected to continue to trade in a tight price range or sideways for the next few sessions.
Basically savvy traders are collecting Vivocom’s at the present RM1.02 to RM1.04 levels. Once a strong & solid foundation base is formed, the price will begin to surge upwards.
If the price surge breaks RM1.10, it will soar sharply to RM1.19, before heading towards an astronomical target price of RM1.57 with frenzy.
Once this occurs, aggressive traders will all rush in, triggering a frenetic increase in volume & price.
Such a breakout will trigger more traders to chase the shares upwards as FOMO takes hold and all technical indicators signals a screaming buy.
Such a breakout can definitely be expected soon but its timing will be difficult to pin down, so be on the lookout n Happy Trading.
Optimism returned to the stock market, in reaction to yesterday’s extremely positive news that Pfizer’s ongoing vaccine development currently in Phase 3 trial is 90% effective in preventing Covid-19 infections.
Personal Protective Equipment (PPE) related counters experienced heavy selling as traders exit to lock in profit.
As a result, a lot of the money previously invested into PPE-related counters is now freed up to invest in other companies.
Industries such as constructions, property development, hotel, tourism, airlines, airports, banks, retails, O&G and ports, all of which were previously unloved and heavily affected should start to see money flowing in as traders start to position themselves.
Vivocom, being in construction and property development sees the interests in its shares building up.
Vivocom’s share price climbed to RM1.06, up 4c from yesterday, with 17.37M shares changing hands.
Based on technical analysis charting which I will not go into details, the market should see Vivocom’s share price to trade around RM1.06 to RM1.10 today and RM1.10 to RM1.20 for the next few days.
Should a strong breakout occurs, we should see the stock move towards RM1.68 in the immediate horizon.
There's no haters. Some only asked to be cautious on what has happened before in this company's history. Many got burned. It doesn't mean there will not be any changes with a new board. It doesn't mean, you cannot buy this counter today or how you want to put your money in over here. It also doesn't mean if anyone is taken for a ride. Your Money, Your Investment!
Smart vivo old holders already left the ship for another bigger ship, check out my history to see which ship! One of the ship is very very hot with sales now!
miniminer: same sentiment also, need to thanks Vivo for the same reason. Now bullets ready to sapu those fallen warriors who is ready to rise from the ash again! Not to mention according to the flow, there could be another small correction very soon till mid December for our operation tong sampah!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
flyingtomoon2020
893 posts
Posted by flyingtomoon2020 > 2020-11-08 17:40 |
Post removed.Why?