"Knowledge without discipline is dangerous,discipline without knowledge has little value"
1) We are here to help out any I3 members of their stock TA. If you need help on any stock chart just address us as “Dear TCB..”
2) We encourage traders to buy stocks with a trading plan. Before you buy please have a Stop Loss in case the stocks go against you.
3) We encourage traders to cultivate a winning habit, that is to lock in profits often when the opportunity arises. Be focused. We are here with one purpose only, that is to make money, never let a winning trade become a losing trade.
4) We encourage traders to set a Trailing Stop to protect their profits when riding on a winning trade.
5) We encourage other traders that have TA knowledge to participate and help out others on TA. In this way we all can learn together.
6) We will never recommend any stock in this thread as Buying and Selling is solely your own decision and your own risk.
7) We may post the stocks that we are interested in, together with a TA reading on it for the purpose of sharing. These TA readings are to cultivate habits of 'Discipline' and 'Plan' before trading .
rikki - actually, there is no order in the reply but whoever is free will do the reply. The other people doing the replies are Yoda88 and Stay Foolish aka SF at the moment.
But it is not the intention of this thread to restrict the replies to the few of us. We invite and welcome others to contribute to the replies and be part of a TCB community as we believe in learning and sharing with each other and we are aware that there are many TA and FA competent traders out there like Mc Wei,sephi, Bravo and others. I believe you yourself is quite a seasoned trader too.
Sephiroth, nice to meet you here. You told me to apply for Titijaya .didnt get but later bought in open market and sold for some profit. Yes, u are spot on for PJDEV-Wc too.
Do come visit more often and sprinkle some of your gold -dust in TCB.
PANTECH—I cleared my PANTECH after spotting it formed the Last Engulfing Bull on 25/04, I cleared to release my capital. Since then it has consolidated downward to a new low of $0.96. With today close with a Bullish Candle at $0.985 more rebound can be expected from Pantech in the near term. It is expected to test its immediate resistance at $0.995/$1.00 ( Most likely to trade from $0.96 to $1.00 during this consolidation). If break may try $1.02 and its previous high. Immediate support adjusts to $0.96 and strong support at $0.95. Short term traders exit if $0.94 is violated.
After reading the chart on 19/05
The situation is still remain the same. Today price is try to break through 1.02 but failed. The bearish signal is higher than the bullish signal which formed inverted hammer today. The price might adjust downward or further consolidate. It is expected to test its immediate resistance at $0.995/$1.00 ( Most likely to trade from $0.96 to $1.00 during this consolidation). If break may try $1.02 and its previous high. Immediate support adjusts to $0.96 and strong support at $0.95. Short term traders exit if $0.94 is violated.
HSL—Maybe forming “ inverted Head and Shoulder” on the weekly chart ( which has bullish implication)with reaction high at $2.03. A breach of this level will take HSL to scale higher to $2.13/$2.18 and beyond in the medium term. Daily chart formed an Evening Star yesterday at the reaction high of $2.03 imply some consolidation may be on the way. Any weakness should find immediate support at $1.97 and stronger support at $1.90/$1.88. On your question of whether you should sell or not you need to make that important decision yourself.
HOVID—It needs to break and stay above $0.38 to carry on its stage 2 of the cycle to the next target of $0.435/$0.45, strong resistance is at $0.40. Now it is on sideways Rectangle Trading of $0.325 to $0.38. A break below $0.325 spell troubles (Starts stage 3 of the cycle) and it will most likely heads down to support of $0.285/$0.27. For Rectangle SidewaysTrading traders will normally buy near support and sell near resistance.
Looking at Chart as at 19-Apr, immediate support is at 0.70 with strong support at 0.67. Entry would be at 0.70-0.71 with target price would be at 0.735 (Candlestick formed on 29-Apr). If breakthrough, next TP would be at 0.765 (Candlestick formed on 28-Apr)and finally 0.775 All Time high.
Cut loss would be advised if break strong support located at 0.67.
Any price weakness offer opportunity for future play.
Disclaimer: This is NOT a BUY call but rather what comes out from the chart. Trader make their own decision to buy/sell.
Seal is very bullish and at stage2 of the cycle. Like what you say it needs to break above $0.775 (Its previous high) to carry on its bullish trend.The recent low of $0.64 act as a very important support, i would think one need to take losses if that level is violated. Reason being we need to give the stock more spaces to maneuver.
We encourage more traders to share their TA knowledge and everyone is welcome to share the thoughts of your own stocks..
It is very bearish now. A big black candle formed on 08/05 due to the bad earning result. The price was consolidating btw 26.54 and 27.34 for 5 days. The seller is higher than buyer. The support line based on ytd chart is 26.19 and support 2 is 25.53. However the price today (12.30n, 20/5/14), break the support 2 line and further test the support 3 - 24.7. We dont want to catch the falling knife. 3 black cows is forming soon. The resistance 1 is 27.33 and resistance 2 is 27.88.
Hi Matrix + Profit, I recently bought Metastock. I have some questions to ask u. Do u mind if i ask u some questions personally thru email? please.
I'm interested how u guys determine waves and target prices, by reading trend line. I was watching youtube and came across some retracement function, if u could personally drop me a reply, that would be great.
Bullish as consolidation appears to be over with sellers exhaustion and it is poised to break through its all time high of 0.985 which is also its major resistance. The high volume today is encouraging and bodes well to its attempt to scale new highs. Immediate support = 0.895/0.89. Major support can be found at the gap support of 0.84/0.85.
Bearish trend compounded by the formation of the 3 black crow on 15/5. The bearish trend will likely continue as persistent profit taking will have a multiplier effect to its downturn. The next 2 support levels lie at 4.485 and 4.175 respectively. Immediate resistance is at 4.985/4.99.
Possible panic selling appears to drive the price down further, most likely due to its exposure to Vietnam.
Dear TCB - thinking of buying ASB at 18.5 2mrw. Do u think it can scale higher frm this lvl n go abv 20. In 2 days, it has spiked up 4 cents. M afraid may b buying at high end. Wud aporeciate if u can advise.
tsy88 ASB seems to be very bullish and uptrending,looking into price action one can notice a pattern of insider buying despite rising 3 cents yesterday n another 1 cent today with a strong rising in volume.If I were to take positon my entry would be 0.185/0.19 with a tight stop loss of 0.17. If it manage to break 0.215 resistance than it will scale to retest the high of 0.24 (3rd June 2011).Profit man pls comment too. Tks.
1BULL, ProfitMan did the chart reading for MPAY on May 15
The bullish engulfing pattern on 6/5 is a significant bullish reversal indication. After a series of consolidation, it formed another bullish engulfing pattern on 14/5 and could be poised to trend higher. Need to clear its immediate resistance at 0.30 convincingly to test its next resistance level at 0.34 before attempting to take out the evening star formation of 25/4. Immediate support is 0.265 while it should find major support at 0.22/0.225. If it can take out the 2 resistance level convincingly, the bullish engulfing pattern of 14/5 would mark the end of wave 2 on the Elliot and it would now embark on wave 3, the bullish phase.
And yoda88 did the chart on May 18, MPAY is in the bullish region as it manage to stay above the 50MA. Volume is healthy. If 0.345 resistance is broken it might scale higher to 0.385 level and failing to stay above 0.30 it will trade side ways. Traded MPAY last Friday on a intraday play and will be taking position on Monday at 0.31/0.32 level with a stop loss of 0.285. Always trade with a plan.
The bearish engulfing forming on 16/05. The price drop almost 7% after than and formed 3 black cows today which indicate very bearish the trend. Yes the MA 50 is stil above the MA 150 and MA 200 (The medium trend is still upward according to MA theory). In fact, MA is a very slow indacator and need time to wait for the adjustment (50 cross 150 and cross 200). So depend which kind of strategies are you using :) In theory, MA 200 is a very strong support. Once it break through MA 200, you want to cut loss. In this case, MA 200 is at 0.89. If 0.89 break, it will further test 0.87. Resistance 1 would be 0.98 and reistance 2 is 1.08
On 14/05, the price formed Bullish engulfing and the price went up to test 2.04 but failed to break through to uncharted territory. On 20/5, the price formed a Bearish engulfing candle and indicate the price is going to drop further to test resistance 1- 1.88 and resistance 2- 1.76. If you are thinking of bottom fishing, you may want to collect the share around 1.76. Cut loss if 1.76 is voilated.
Matrix, Feel free to add in your thought on Presbhd
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....
Posted by TechcodeBreaker > 2014-05-18 01:09 | Report Abuse
"Knowledge without discipline is dangerous,discipline without knowledge has little value" 1) We are here to help out any I3 members of their stock TA. If you need help on any stock chart just address us as “Dear TCB..” 2) We encourage traders to buy stocks with a trading plan. Before you buy please have a Stop Loss in case the stocks go against you. 3) We encourage traders to cultivate a winning habit, that is to lock in profits often when the opportunity arises. Be focused. We are here with one purpose only, that is to make money, never let a winning trade become a losing trade. 4) We encourage traders to set a Trailing Stop to protect their profits when riding on a winning trade. 5) We encourage other traders that have TA knowledge to participate and help out others on TA. In this way we all can learn together. 6) We will never recommend any stock in this thread as Buying and Selling is solely your own decision and your own risk. 7) We may post the stocks that we are interested in, together with a TA reading on it for the purpose of sharing. These TA readings are to cultivate habits of 'Discipline' and 'Plan' before trading .