Hi hepitrade! I m of the opinion that do not jump in first as currently there is another northen doji being formed n if double doji is formed, this indicates bull n bear are fighting dreadful amg each other. If bull can overcome then it is good news. If bull fails to win this war, price will dip. Unless u r risk taker, i prefer to wait n see then act.
Normally after breakout from recent high 0.685, within 2 days can hit my 1st tp0.72. For 2nd tp, i normally cabuk half way bcos lack of patient to wait.
I will re-enter Wong on Monday after studying the chart. It is a confirmation of pole&Flag formation & lines shld be drawn from 2309-0210. The breakout point from the flag is 0.485 so my TP is affirmative set 0.74.
FreeThink, bcos u are FA whereas i m a trader so we have diff point of views & different trading strategies. I only hold the longest stock so far is thheavy since july. The rest i never hold for more than 3 weeks. Cheers!
CityTrader...there r a few scenerios ..the likely one on this count is,it wud probably consolidate first over the short term with the top at 0.685 b4 up at higher levels hitting your tp.0.58 support must not be defeated to maintain the short term bullish outlook.
Morning trustme932, noted with thanks & am stil monitoring for good price to enter. I stil believe after the formation, there is tendency to shoot cross above the recent high.
finally wong found it based at 0.515 ...should be tecnical rebound..price up wit moderate volume ..should up 2-4 cents...then profit taking at this kind of uncertain market look
Highlights / Stock Picks of the Day Wong Engineering Corp Bhd (WONG) – Not Rated WONG has been trapped on a sideway trend for the past 4 months. Yesterday, WONG rose 7 sen (+12.61%) to settle at RM0.62 which confirmed a ‘Bullish Pennant’ chart pattern. Meanwhile, its RSI indicator continued to hook upwards, signaling an increase in buying momentum. Traders who are looking to buy into the stock should target to take profit at RM0.97 (3 bids below the Pennant measurement objective of RM1.00), while placing a protective stop-loss at RM0.54 (also 3 bids below the resistance-turned-support level of RM0.57). Outlook Bullish Key Resistance level RM0.68 (R1) RM0.79 (R2) RM0.86(R3) Key Support level RM0.57 (S1) RM0.50 (S2) RM0.44(S3) Strategy Not Rated Current Price RM0.62
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....
inwest88
5,628 posts
Posted by inwest88 > 2013-10-11 10:59 | Report Abuse
CT, I cannot wait already, entered Penta at 23.5 sen for some fun trade.