To me I disagree to blame anybody in share market ! Decision making to buy or sell is solely own judgement ! Frankly I salute Mike his judgement on which stock going to move very ' chun ' !
Since its downtrend from Nov.12, 2013, PMCORP'S price action had been forming a DESCENDING WEDGE PATTERN. Since PMCORP had been on prior uptrend before Nov.12, the Descending Wedge Pattern is a bullish continuation pattern. On Monday, Jan.6, it broke above the upper descending resistance line with significantly high volume of 1.26M shares traded, and continued with even higher volume of 4.24M shares today. Target Price is 33 sens, provided it can clear above the Descending Gap created between Nov.12 - Nov.13, 2013 of between RM0.305 - RM0.32. Also note that a minor resistance at RM0.245 was convincingly cleared today. Note: Upside potential is there, but trade at your risk, and this is not an invitation to buy or sell. The decision is yours to mae.
MUIPROP (CLOSED today @ 18.5 sens) is in the process of completing a shallow saucer-shaped pattern (bullish), with a depth of 3 sens. This will give it a Target Price of 22.5 sens, ie., top of bowl of 19.5 sens + 3 sens = 22.5 sens. Minor resistance at 20 sens and 21 sens. If market sentiments continue to be good, the 2 resistance can be easily cleared. Note: Buy at own risk.
I want to be fair to Calvintaneng. If the stock price can cross 0.27 and close at this price or above it. The trend had changed from down trending to up trending. Final decision is yours. Thank you.
andygan, I'm not saying that Muiprop is already in uptrend. It has the potential to go up further because the bowl-shaped pattern the price action has been completing normally is a bullish indicator of potential price rise. But market sentiments in the coming days are important to sustain the momentum. Today's FBMKLCI Index closed with a Bullish Harami (pregnant) 2 candlesticks pattern. But a confirmation is required in tomorrow's trades. If the Index were to close above 1833 with volume, then a reversal of past 5 days' downtrend is confirmed.
I do not foresee this is 27 cts stock when its naps is 47 cts and making around4 cts per share ! It should be more than that .....this is layman calculation....if not for the bad record , this share has long touch RM 1.00 !
Ini hali kalau volume manyak bagus . Pmcorp mesli terbang. Volume kulang back to 23 punya level. Mahu tulun 21 sen. gua tarak nampak. Lu olang tengok q in pagi as indication. Q above 5000 per level. Mahu break 30 manyak senang.
Please bear in mind that, there are still a lot of ppl trapped at 36sens above. Don't know it is a real rebound or just follow all market rally trend...
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....
Mok4444
153 posts
Posted by Mok4444 > 2014-01-08 17:40 | Report Abuse
moneyking, this morning i just bought in back on 23c...cheers :-)