Posted by connie9170 > 2013-11-14 10:48 | Report Abuse

matrix, may i ask for skpetro why the pattern does not qualify as cup and handle ?. i'm looking at the daily one year chart from osk188. thanks

Posted by ProfitMan > 2013-11-14 10:50 | Report Abuse

Matrix, Engtex is looking bullish. Barring any external factors, it should re-test its high of 1.78 over the next few trading days..

Posted by matrixcool > 2013-11-14 14:10 | Report Abuse

Connie9170
For Sketro twobits is looking at Pole and Flag that was formed lately. He was right as he is looking at the very short term scenario.
For a Long Term scenario I would like to share my reading of the chart with you.
The previous cycle SKETRO completed stage 4 formation on 27/08 with new bottom at $3.18.It started stage 2 of the new cycle when it broke out from $3.87 with volumes on 17/10 which is very Bullish. It hit high of $4.34 on 23/10 with volumes.
Assuming you are drawing this line from left to right for the formation of the Cup and Handle. ( It is acceptable even though the CUP is not really round at the bottom and looks more like “V” bottom). Now it is the progress of completing the handle and if break above $4.34 it will scale higher to its estimated TP of $5.50. But a word of caution during this formation of the handle if break below $3.99 it formed Double Tops which is bearish.

profitMan, EngTex is definitely turning cautiously Bullish but yet to clear the Dark Cloud formed on 29/10 at $1.76. I will scale in more shares if it cleared its previous High.

Happy Trading…

Posted by ProfitMan > 2013-11-14 14:40 | Report Abuse

I have scaled in some Engtex WA over the past 2 days. This time round, I am into both mother share and warrants.

Matrix, SKPetro on a weekly chart could be in the process of a double top formation. But on a daily chart it resembles more like a cup and handle. So, should we be looking more at the weekly or daily chart pattern because I remember you mentioning previously that you look at the weekly chart for longer term pattern or am I reading the pattern wrongly?

Posted by matrixcool > 2013-11-14 15:01 | Report Abuse

profitMan, you are spot on ! Cup with Handle pattern is very similar to Double Top with one exception.The selling should not accelerate after forming the 2nd Top which if you look at the weekly chart the volumes reduced after the 2nd tops. That is why I use the word” caution” if the formation of the handle failed by breaking below $3.99 it is most likely to complete the Double Tops which is very Bearish.

During the handle formation which is a very important part the pattern as traders will sell near the 2 tops and if the volumes keep increasing and stock gains downward momentum then it will form Double Tops. So far SKPETRO did not show that. Also if the breakout happens it must accompany with large volumes to add validity.

Ha, looks like we are in EngTex together..

Happy Trading…

Posted by ProfitMan > 2013-11-14 15:49 | Report Abuse

Matrix, thank you so much for the explanation. It certainly clears up the questions in my head.

Yeah, lets make lots of profits from Engtex.

Posted by connie9170 > 2013-11-14 16:27 | Report Abuse

Many thanks matrix for the clear explanation. i always have doubt with what i see from the chart :(

Posted by connie9170 > 2013-11-14 16:43 | Report Abuse

matrix gotta bother u again. read thru your postings again, u mentioned one of the telltale signs of rebound is 10 days EMA crosses over 30 days EMA. problem is i don't have these indicators to select from OSK188. they only have MA prices. can i just look at MA prices ?

Posted by matrixcool > 2013-11-14 17:07 | Report Abuse

connie9170, for MA everyone use different reading, some use 21,30,50,200 days etc .It is up to you whatever works for you. What are the MA values from OSK ?

You must understand all indicators (except Volumes) inclusive of MA are price derivative and actually telling you things that already happen. Use it as a guide only.

As time progress, you will find charts reading getting easier if you keep it simple, don’t over depends on indicators as it can confuse us sometimes. Try to learn to identify supports, Resistances, volumes (These 3 measure traders emotion) and lastly chart patterns. I use Candlestick and find it useful but it is all up to you to use any other charts that you are comfortable with.

Happy Trading.

Posted by connie9170 > 2013-11-14 17:15 | Report Abuse

matrix, osk188 is kind of funny..they have 3,7,12,26,60,61,63,65,67 and 69. which ones are relevant ? sori yeah matrix ask u so many questions.

Posted by twobits > 2013-11-14 17:34 | Report Abuse

Busy taking down note!

Posted by sephiroth > 2013-11-14 19:03 | Report Abuse

connie9170 warn u first, i don't read their fundamentals k ?. and some were bot impulsively...
dialog / skpetro / pharmaniaga / hovid / mphbcap / sersol / sumatec / tenaga c5 / digistar (am stuck with the STAR since sept)
i join bursa in sept, have zilch experience. am trying to learn everyday - reading tonnes of postings from i3 sifus esp matrixcool, he is really cool :)

connie, don't mind me moving my reply to this house which u frequently visit. here's the q & a, i mean quick analysis

Counter 1-2 :o&g play counter, dialog/skpetro high debt but high growth-not bad (many yrs bought skpetro at 1.96 during ipo (ipo price 2.20 plunge to low of 1.90 but sold too early at 3.00)

Counter 3-4 : healthcare counters pharma/ hovid, a bit overvalue now but defensive stocks

Counter 5 : great stock mphbcap, hold till break 2.00

Counter 6-7 : sersol & sumatec, no FA but 100% pure goreng counter (use cooking oil from YEELEE to fry)

Counter 8 : exercise price 9.00 + 0.145 X 6(ratio 6:1)= 9.87, premium of just 5% over mother share 9.40, very attractive coz govt gonna raise electricity tarrif maybe in 6 months) hopefully b4 expiry, then substantial upside(details http://www.bursamalaysia.com/market/listed-companies/structured-warrants/1377617)

Counter: Digistar ,very high debt IT co but grab substantial govt contract

Posted by connie9170 > 2013-11-14 19:50 | Report Abuse

omg sephiroth...thanks for your quick analysis. i know i know counters 6 and 7. i will exit if the prices drop to my stop loss. oh no bad impression on matrix :(

i am not going to buy anything new until i figure out what sort of portfolio i want. i have not found "me" in bursa...u know what i mean ?

Posted by matrixcool > 2013-11-14 21:26 | Report Abuse

connie9170, i have no ideas on those figures you mentioned from OSK, anyone here can help connie out?
I know you are still learning TA it is OK to ask if i can helps i will do my best. We are here to help each other out !

sephiroth, thanks for the inputs and FA on those counters, appreciate it.

Happy Trading...

Posted by sephiroth > 2013-11-14 22:27 | Report Abuse

connie, u look confuse, in order to find 'you' in bursa you need invest/trade stocks free from any emotion like matrixcool (limit losses to below 10%)

Posted by Metta > 2013-11-14 22:35 | Report Abuse

Bro Sephiroth

Amprop qtr report no gud leh....wats ur tot ?


Rgds

Posted by sephiroth > 2013-11-14 22:52 | Report Abuse

metta, the share price won't go down as there might be a revise offer for kesas deal as they will further negotiate with gamuda (announce today) and 1 qtr of weak result does not mean anything as prev 4 quarters net profit is very impressive RM87m and UK property market is recovering and will do well in the near future

Posted by matrixcool > 2013-11-14 23:39 | Report Abuse

15th NOV

1) ALAM—Bought in Alam today after yesterday selling frenzy that it may have found a new bottom at $1.37. Formed a Bullish Harami which normally is a Trend Reversal. A break above $1.48/$1.50 signal BUY (which I may scale in more shares) and it is expected to rebound further to $1.55. Immediate support adjusts to $1.40 and exit if $1.37 is violated.
( Do not be mislead as the counter is still bearish and if you are trading you MUST be ready to take losses if $1.37 is violated.)

2) AZRB— Tight trading range, expects trading ranges of $0.96 to $0.98/$1.00.The price is still too close to $0.96 for comfort even though the downward momentum had decreased. Any rebound should find strong resistance at $1.00. A break above $1.00 with volumes signal BUY and it will be out of the down trend channel.Exit if $0.96 is violated.

2) ENGTEX— As suggested rebounds further today,it is moving towards its previous high of $1.76/8 ( The Dark Cloud formed on 29/10 at $1.76 which is shadowing the upward movement of EngTex). A break above will take it uncharted territory with an estimated TP of $2.00. Immediate support adjusts to $1.69 & strong support at $1.65,any weakness towards support is a good time to accumulate for future play.I have raised my Trailing Stop to $1.64 to protect my capitals. ( May also sells some into strength to lock in profits).

3) GUNUNG— Yet to clear the Dark Cloud formed yesterday at $0.995. Formed a “ Bullish Harami” today, Trend Reversal? A break above $0.995 ( The Dark Cloud) to try $1.02/$1.05.If break will try previous high of $1.10. Immediate support is adjusted to $0.95 and strong support at $0.92. Exit if $0.92 is violated.

4) HAPSENG— Formed another Long Lower Shadow today which is Bullish, but the price has started to show some weakness and momentum of downward movement has increased. Immediate resistance is at $2.55 /$2.62. Immediate support adjusts to $2.45/$2.43. I have raised my Stop Loss to $2.43 to protect my capitals.

5) MPHBCAP- Formed a Gravestone Doji today which is bearish, expected trading range of $1.66 to $1.73.The support of $1.66 is expected to hold since the downward momentum had reduced. With the high of $1.75 formed 2 days ago it is taking on the shape of Flag Pattern (Which is Bullish). A break above $1.75 with volumes will confirm long term uptrend for MPHBCAP. Immediate resistance is at $1.78/$1.84. Exit if $1.66 is violated.
I am monitoring PERISAI (Possible Cup & Handle Pattern if break $1.47) .

HAPPY TRADING…

p/s sephiroth, you are right, leave the emotion out when trading in the market.Execute the plan and limit our losses but try to ride on the winners as long as possible !!

Posted by chengyee > 2013-11-14 23:43 | Report Abuse

Matrixcool, could you please look at Inari & Dsonic too?

Posted by choolooi > 2013-11-15 07:35 | Report Abuse

Sephiroth , you are like Bro matrix, that is why u both are successful in your trades.
That is why you can summon the mighty beautiful dragon.
Yesterday I bought TA at 0.80 when I saw bursa added 2 pts. Q in the morning but only got it in the afternoon.

Connie, if want to find self , a person must be in spacious solitude , away from frenzy bursa.
I know what you mean in your statement..... To realign your portfolio .
This recent drop helped me in that I got rid of my non- productive sleeping stocks and start afresh , with the guidance of generous sharing by the sifus found in i3.
We have very two good ones whom I mentioned earlier.

Thanks
Have a happy day filled with pleasant surprises.

Posted by connie9170 > 2013-11-15 08:11 | Report Abuse

Good morning :)
Matrix - i will look for better charts (ditch osk).
Sephiroth - i do like the way matrix trades. keeping long term is definitely not my cup of tea.
Choolooi - very true to start afresh. won't touch anything now but monitor my existing counters. u are rite the sifus in i3 are very kind and generous with their sharing.
Happy happy trading to everyone !!

Posted by matrixcool > 2013-11-15 08:58 | Report Abuse

Chengyee, I will study the charts of Inari and Dsonic over the weekend for you.

Choolooi,connie, thanks for the kind words. But I think not only us but the others in the thread also contributed a lot. I must say I also learnt a lot from this thread. Now I look at more stocks and choices of my stock pick have increased due the thread.

Choolooi did the right things, it is no point to hold on non-productive stocks that tied our capitals and miss other good opportunities. I review my stocks every night and the stocks must convince me it is worthwhile to hold on to them if not I will clear it. Now I am holding on 6 stocks and the longest one is AZRB since mid-Oct, even it has not hit my Stop Loss level of $0.96 I may want to clear it unless it can close above $1.00 soon. I opined that the reason we pick a stock is because we are confident it is going up right? If after a long period says over 1 to 2 months nothing happen isn’t it something is wrong in our initial criteria to pick that stock? The worst scenario is when we pick a stock and the next day it started to come down,most of the traders would not take the losses because they can”t believe they are wrong straight away. Happen to all of us right?

Connie, I am very happy you are starting TA which is very good, try not be too excited that you want to learn everything at once,thinking you can interpret all the indicators and think it works so well, a word of caution,all indicators basically tell you what have already happened. If you have a live chart you will know a “hook down” indicator can suddenly turn bullish when price changes and vice versa. I would recommend to you the first things you must learn is Support,Resistance,chart patterns and Volumes. Sound simple right? If you can really understand and master these 4 you are more than 1/2 way in TA.

Have a nice weekend !!

Posted by connie9170 > 2013-11-15 09:03 | Report Abuse

matrix, i heed your advice. by the way, the charts in tradesignum look much better than those in osk. will definitely learn those indicators u mentioned. thanks matrix...u have a good weekend too :)

Posted by sephiroth > 2013-11-15 10:20 | Report Abuse

matrix, did you apply for Titijaya ipo, closing 18/11, i just apply thru maybank2u testing 10,000 shares (http://klse.i3investor.com/blogs/rhb/41068.jsp)
small and mid size ipo have been extremely successful eg. karex, caring

Posted by ProfitMan > 2013-11-15 11:00 | Report Abuse

Connie, just to add on to what others have commented, keep things simple with TA for a start and work out from there. There are a lot of noises in the market, i.e. can be in the form of news, tips, etc, etc and you need to filter them. But what I find most important is that you yourself must know your own risk profile and your own trading strategy.

Don't be discouraged by the big profits other investors make. Their risk profile and trading strategies could be different from yours. If you are happy making 10% or 20% profits, so be it. "Sikit sikit lama lama jadi bukit"

Just to share, in my own basket of investment, I have short term highly speculative shares, I also have medium term shares and some long term shares with good fundamentals and good dividend yield which I can keep for years just collecting dividends and for capital appreciation. The proportion of each of this category would depend yourself.

But whatever it is, you need to be clear of your own trading strategies. I hope that helps. And more importantly, Relax.

Posted by sephiroth > 2013-11-15 11:16 | Report Abuse

Profitman, i don't have goreng counter but have mid to long term stocks like you


back to ipo, even LTH/LTAT apply for Titijaya IPO

Posted by matrixcool > 2013-11-15 11:40 | Report Abuse

Sephiroth, ya I also apply for IPO Titijaya, just to share with you my experiences instead of applying 10,000 shares you should apply 10,100 shares that will put you in the bracket of 10,000 to $20,000. For me I apply 101,000 share that puts me at 100,000 to 200,000 bracket which stand better chances. So far I had been quite lucky with recent IPO, WPort gave 60,000 shares, UMWOGH gave 30,000 shares and KAREX gave 12,000 shares. No luck with Caring..Ya you are right” they” are playing new listed company now.

profitMan, thanks for valuable inputs on trading strategies..

Have a nice weekend.

Posted by Metta > 2013-11-15 11:59 | Report Abuse

Happy Sunny day every one,

Glad the mkt is green .

Bro Sephiroth thanx for your sharing on Amprop.

Bro Matrix n PM, took profit on Engtex . Try to offload ctrs tat r in profit. Will b away end of next wk till Dec. Thanx so much for highlighting Engtex.

Bro Matrix, hv time can pse hv a look on YLI. Wonder if it's uptrend ? Wanna offload too. Missed tis morning high..... Oops sorry human greed again.

Thank You .

Stay Happy & Healthy Everyone !

Posted by choolooi > 2013-11-15 12:17 | Report Abuse

Very sound reminders from Profitman.
Sifus need not be in the FA or TA category.
High 5 to you , profit man.

Congrats Bro matrix on IPO success.
Hope you and Sephiroth are successful in Titijaya.

Posted by sephiroth > 2013-11-15 14:22 | Report Abuse

thanks chooloi, why don't you join the ipo party?

matrix, the edge weekly stated weeks ago that rpgt dampen property buyers. instead, these property investors pour their money in most ipo and penny stocks. the run up will be strong especially near year end

Posted by pathew > 2013-11-15 14:25 | Report Abuse

hibiscus, good profits for me, I went in at 1.38 for wa on Wednesday :)

Posted by sephiroth > 2013-11-15 14:30 | Report Abuse

matrix, balloting on 20/11/13, when do we know whether we are successful, on 26/11 one day b4 ipo?

Posted by matrixcool > 2013-11-15 14:33 | Report Abuse

Sis metta—congratulation on your EngTex, still can”t clear the Dark Cloud at $1.76. I am still holding mine..I will look at chart of YLI for you over the weekend.

Choolooi, thanks for the best wishes, ya like sephiroth said you should join us on the IPO..It is HOT now..Remember we always follows the Trend.

Pathew, congratulation on your Hibicus.. Great to hear from you again !!

Have a nice weekend !!

Posted by pathew > 2013-11-15 14:38 | Report Abuse

thanks matrix, still waiting for yum cha session :)

Posted by choolooi > 2013-11-15 14:51 | Report Abuse

Ok sifus, shall ride on this Titijaya dragon with you both.
Shall subscribe 10,100 units like advised by Bro Matrix.
17 million units for public ..here goes !!!!!!!!!

Posted by ProfitMan > 2013-11-15 15:07 | Report Abuse

Metta, congratulations on your Engtex profits. Smart move too since you will be away. I am medium term with Engtex, so I will be holding a bit longer. Happy holidays.

Choolooi, thanks for your kind words.

Matrix, sephiroth, good luck with yr Titijaya IPO. Hope you guys succeed with a big allocation. I have very poor luck with IPOs.

Posted by connie9170 > 2013-11-15 16:03 | Report Abuse

Thanks so much profitman. definitely helps. your words make so much sense. i need to find my risk profile and trading strategy. i have to start afresh and move on from there.

Posted by connie9170 > 2013-11-15 16:06 | Report Abuse

matrix, sephiroth and choolooi - wish u the BESTED of luck on your titijaya IPO :)

Posted by matrixcool > 2013-11-15 16:20 | Report Abuse

Pathew, yum cha needs to be next year as I am going off for about a month for my year end holiday..

Choolooi, welcome on board !! Now we need to be lucky enough to get some IPO shares..keep our fingers crossed.

profitMan, Like you I am still holding EngTex, I was thinking of scale in if cleared the Dark Cloud at $1.76. The RSI showed some weakness yesterday.

Connie, not joining us on the IPO?

Happy with the performance of ALAM..

Have a nice weekend...

Posted by connie9170 > 2013-11-15 16:44 | Report Abuse

matrix, not this IPO. don't know anything about IPO. maybe next year. oh just want to let u know i cleared all my sumatec. i feel so relieved now. luckily there is an exit point for me if not the loss cud be worse. i definitely like your trading style - calm and steady. i think this will be my trading style too :)

Posted by matrixcool > 2013-11-15 17:07 | Report Abuse

connie9170,isnt it hard when it comes to selling especially if we need to take some losses? If you have a plan then you wont be under stress because you already ready for that loss.
Learn your TA well and keep it simple, you will be a good and discipline trader one day. Once you learn how to spot the weakness of the stock on the chart you can be real calm too.
Enjoy your weekend, tonight son is buying us Jap Foods..Shasimi and sake..Maybe a bit of red if we order some meat..But not too much because tomorrow going for a long run..

Posted by connie9170 > 2013-11-15 17:11 | Report Abuse

may i request u call me connie ?
enjoy your fine-dining japs :)
by the way, i jog (not run) too around my neighbourhood :)

Posted by matrixcool > 2013-11-15 17:28 | Report Abuse

K connie...
Walk,Run,jog, any exercise is good!!

Posted by ProfitMan > 2013-11-15 18:12 | Report Abuse

Matrix, Jap food is one of my favourite especially the hot sake. Enjoy your meal.

Connie, I forgot to mention, there is a free interactive chart online (not a live chart)which I also use at www.interachart.com. I don't know if you already know this site but you can specify what time frames you want on your EMA, besides all the usual stuff like Bollinger and MACD and others. You can check it out.

Have a good weekend everyone!

Posted by chengyee > 2013-11-15 22:07 | Report Abuse

Thank you, Matrixcool. Have a nice weekend.

Posted by connie > 2013-11-16 11:31 | Report Abuse

good morning all :)

matrix - hope u have enjoyed your japs and sake to the fullest :) when u said long run may i know how long is that ?

profitman - 1st i used oks188, then switched to chartnexus (but not working now dunno why), back to osk188 again but hate it and finally found one in tradesignum (it is the same as the one from interachart.com). thanks heaps for your advice. greatly appreciate it :)

Posted by matrixcool > 2013-11-16 14:23 | Report Abuse

connie, normally my long run is 1.5 hours to 2.5 hours depend on how close i am with an running event.( My next running event is Angkor Wat 1/2 Marathon on 01/12 then Chiangmai Marathon on 22/12 , but today only ran 1 hour 20 minutes becasue my wife felt tire so i walked with her...
Ya, we enjoyed the Jap food last night..Tonight wife will cook Lamb Cutlets..Yummy ! Of course with soem Red wines tonight..

proftMan, apprecaite yor helps to others here..

Have an wondeful weekend.

Posted by connie > 2013-11-16 15:07 | Report Abuse

omg matrix...1.5 to 2.5 hours. i only jog about 30 minutes. now i can imagine u super duper fit. and your lovely wife too a marathon runner ?
i bet dinner tonite will be much more delish than last nite coz wife cooks with love :)
cheers....salute

u too have a wonderful weekend

Posted by connie > 2013-11-16 21:58 | Report Abuse

hi profitman and matrix, i am checking on myeg and have done some homework :-
1) pullback from highest high to $2.25 which is 50% of fibo retracement
2) on the daily chart, i can see a double-bottom pattern
3) if the pattern is confirmed, then a good entry point now is at $2.4 and stop loss at $2.24
4) for tp, i apply fibo extension - tp1 +24% $2.80 / tp2 +38% $2.9 / tp3 +50% $3.0
5) entry $2.4 / exit $2.24 / tp1 $2.80 => risk ratio of 2.7
matrix, i know u don't trade with fibo, cud u kindly give your advice ?
profitman, do u use fibo ?. if yes, cud u kindly confirm if above is correct ?.
thanks so much :)

Posted by matrixcool > 2013-11-17 08:59 | Report Abuse

Connie, impressive home works done for MYEG. Sorry I cannot comment on Fibo as I don’t use them. I know there are many traders who use Fibo and success in their trading.

I would like to share my chart reading of MYEG with you:

The chart showed it formed a “Dark Cloud” on 30/10 at $2.62 signal a correction is coming and which it did. Formed another “Engulfing Bear” on 11/11 at $2.40 confirmed further downward which it did to $2.24. If you draw a down trend line joining the 2 tops of $2.62 to $2.40 then the first signal to buy is at $2.34 on 14/11 when it broke above its down trend line.Immediate resistance at $2.40 (Engulfing Bear) which was taken out yesterday ( Another signal to Buy).The momentum has picked up and further upward movement could be expected towards strong Resistance in $2.62. Those that was caught buying at these levels earlier will sell because of Fears that it will go down again. Unless $2.62 is taken out with big volumes the “Dark Cloud” is shadowing MYEG movement.

Also the pattern is NOT a Double Bottoms on the daily chart. It is important for TA to learn the chart patterns , Support, Resistance and volumes and understand them well.

Oh ya, I only do a long run once a week and normally on weekends. Normally will do 30 minutes to 1 hour.

Have a nice weekend !!