Tadmax Resources (WIJ MK) Technical BUY with +28.9% potential return Last price : RM0.415 Target Price : RM0.430, RM0.535 Support : RM0.385 Stop-loss: RM0.380 BUY with a target price of RM0.535 with a stop loss placed below RM0.380. WIJ’s share price had experienced a sharp bearish run from the high of RM0.885 on 20 Feb 12 before hitting rock bottom at RM0.180 on 3 May 13. However, the share price has gone from strength to strength by gradually recovering before crossing above the 200-day SMA line and effectively pushing its way out of the longterm bearish trend. Despite the steady ascent, WIJ fell short of the previous high or an immediate resistance of RM0.415. Nevertheless, we expect the breakout to take place sooner than expected as the surging trading volume in the last 3 days on top of the rising momentum should indicate a possible hidden accumulation. Given the bullish crossover in MACD, we expect upside continuation hereafter and thus peg our medium-term target at the 50.0% Fibonacci Retracement level of RM0.535, which is also a 19-month high.
speculative for sure, but with a pending news announcement after CNY..so if you sell before Thurs, I think the "insider" must be happy to collect further
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....
Azli
1,082 posts
Posted by Azli > 2013-11-04 12:52 | Report Abuse
Most likely, Will bounce back this afternoon. More buyers waiting compared to this morning.