Tas Offshore (TOB MK) Technical BUY on pullback with +27.5% potential return Last price : RM1.12 (RM1.06-1.12) Resistance : RM1.39 Support : RM1.00 Stop-loss: RM0.99 BUY with a target price of RM1.39 with a stop loss below RM0.990. Given our earlier call to take profit on 1 Nov 13, TOB’s share price hit our expected downside at RM1.04 on 25 Nov 13 before forming a “bullish engulfing” pattern right above the psychological support of RM1.00. Given the positive follow-through yesterday on the back of “hidden bullish divergence”, the share price is likely to reverse higher in the near term. However, conservative traders may accumulate lower over a potential minor pullback on profit-taking expectations.
On the current date Tas offshore Position is Long - Buy based on Medium Term analysis and is Long - Buy based on Long Term. Asset "Volatility Risk" is Medium and "Liquidity Risk" is Medium - High. In the Medium Term, Bullish phase is advancing, a short term positive price move is expected. In the Long Term analysis Possible Top of the bull cycle. Although the stock is still pushing up, Its momentum is weakening.
Unless 1.26 is broken, price will be trading in the range from 1.10-1.20 & good news is price & vol trends have been ascending so we need to see how it breaks 1.26 before it can head to my final upleg TP1=1.52 & tp2=1.72.
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....
nicky
3,356 posts
Posted by nicky > 2013-11-28 18:56 | Report Abuse
Bot 1.14 closed 1.12 :-(