Friday, March 30, 2012

CYPARK - Short- & Long-term Targets

Did a quick review on this counter, CYPARK, since a "trigger" emerged recently with the company inking agreement with TNB for sales of solar power to the later.

The short-term target:
CYPARK - Short-term outlook

The mid-term target:

CYPARK - Mid-term outlook

Happy hunting!!

Thursday, March 29, 2012

JCY - Rebound from bottom

JCY - Mid-term Outlook (March 27)

Had been wanting to post on this counter since few days ago. A friend asked why I didn't went in when it touch the 1.07 bottom on March 20. My reason is that I'm still holding a position on the counter, hence, not wise to add risk to an already risky trade. As shared by Conrad himself at the link below. 
Never add more risk to higher risk
Why my position is a risky one?....Because my entry, 1.19@Feb 20, was meant to profit from the small correction wave-b in an ABC-correction, TP@1.33-1.37 level. But the sellers managed to take over the game, correction touches a high of 1.29 then all the way down to 1.08-1.09 level. 

In that case, at the price of 1.06, the recent low, although the counter was totally oversold, to buy more is not a wise option at all. I believe there are many fans of "averaging down" out there, but at the circumstances where the general trend is still down while we anticipate a reversal, it is best not to get into a trade too early (high risk). Instead, an entry when the price retrace back to 1.14-1.15 level will be a wiser move to minimize risk as the reversal is now confirmed. 

Now back to JCY

The current upwave shall bring price to 1.23-1.26 level, almost without doubt. However, a firm reversal back of the 2-mth old downtrend since the 1.50 peak early Feb'12, shall only be confirmed by the momentum of the price surge by then. If price is able to stay above 1.15 support level after touching 1.26 peak alter, then there will be a higher chance of a change in the general trend. Also, to add to the strength of trend reversal, a stay above the 6-mth old trendline support is also crucial. 

JCY -short-term trading S&R (March 28)

Again, to reiterate, JCY do have a strong result from the passing-on of the Thai flood effect a few months back. Other rating catalyst are all pointing to a positive outcome for the coming 2QFY12 result including higher average selling price (ASP), double orders booked from Seagate, & also an appreciation of USD against MYR.

Since the company fundamentals are also supporting the reversal of the downtrend, with technicals pointing to more upside also, we are now at a "万事俱备,只欠东风" status, where a slight good news or positive announcements from the management shall help booster the price. 

That's all for JCY as of this moment. I've recently been monitoring a few speculative counters which are still at an "on-the-move/hot" status, namely, MTRONIC, SILVER, NICORP, UTOPIA. Almost all of them are in an correction/consolidation phase after their respective most recent spike, find a good entry & we shall ride their Wave 3 up high & PROFIT from the GORENG Co. However, experience with technicals on previous calls taught me that stocks are really SLOWWWW, & can rendered oversold to levels unacceptable by wave counts & fibonacci. Hence, now I'll give a discount of one support/resistance level on my exit & entry points to buffer against the over-over-bought or over-over-sold stances.

Happy Hunting!


Monday, March 19, 2012

REVIEW - on KLCI & FKLI outlook

Hi all.

Just a review here on my previous post to make it more 'linked" together for easier reference.

I previously posted my outlook for KLCI 1H'2012, on Jan 3, 2012. We shall now see how the market has been doing in this 3.5 months time, up to March 15.

In the first quarter of the new trading year (1Q'2012), we saw KLCI staged a 65-pts run from1,530 (Dec 30, 2011) to 1,595 (March 5). The index consolidated within the 1,510-1,530 range throughout Jan'12, before successfully broke out of the consolidation phase on Feb 2, & made a 35-pts run from 1,530-1,565 points within 1 week's time (Feb 2-9). After that, as mentioned on Jan 3 post, the index found rigid resistance from 1,560-1,565 level & got rejected from there several times throughout the month. On Feb 29, a breakout from the consolidation phase see the index fly another 20-30 points before finding resistance again near the Jul'11 peak of 1,597pts, thus dropping back to find support again at 1,565pts.

Below is the Jan 3 chart, followed by the KLCI chart as at March 15, 2012.

My 1H'2012 outlook for KLCI, posted on Jan 3, 2012

A review on my KLCI outlook 3 months on (@March 15, 2012)

Managed to capture today's index movement as below. We see some very mild rebound from last week's close of 1,571pt. This is not a good sign especially with RSI also hovering below 50. Based on today's performance, I think there will be more downside to the index, sooner than expected, if it does not hold above the 1,565-1,570pts. Fibo projection gives a further 20pts downside from if break below 1,564pts, leaving the next support for the index around 1,545pts, which was the upper-side of the infamous Aug'11 plunge gap. However, we should see rather strong support at 1,565 level given the month-long consolidation base formed throughout Feb'12.

FBMKLCI - March 19 - weak rebound from last week's close

~~~~ For FKLI now ~~~~

On March 9, I spotted a RISING WEDGE pattern in formation, giving a turnaround point around 1584.5-1587 region, followed by projected downside breakout target to 1,560 level. This was all done right after my post, we saw FKLI touch 1584.5 & turnaround on the 11am candle, all the way down to close at 1576 point on March 9. The next Monday (March 12), the futures index opened lower & free fall all the way to the lowest point of 1,561, before rebounded slightly to close at 1,565pt.

FKLI - posted on March 9, 2012 (1028h)

FKLI - Completion of a Rising Wedge breakout on March 12.

The FKLI should move more or less in tandem with the index. I shall write on it in another post if there's any big movement within this week. Need to get away from my laptop now, not feeling well today.

Thanks for reading! Happy hunting! :D

Thursday, March 15, 2012

GOCEAN - Looking at Wave 5_iii

GOCEAN - short-to-mid term outlook (March 15, 2012)

Another easily >10% profit opportunity from our beloved market. 

Shit! I'm beginning to like speculative penny stocks!Well, at least no manipulation from THE BIG FISHes, which means TECHNICAL will ROCCCKKK!!

Enjoy folks! :D

Wednesday, March 14, 2012

NICORP - Wave 4 correction in progress

NICORP - March 14, 2012

The hottest counter in town recently, NICORP, is currently in a Wave iv correction, which I expect should end around 0.57-0.60 region. 

Shall the price find support around that region, it will be an excellent entry point or accumulation region in anticipation of the coming Wave v, which shall re-challenge & break above the 0.74-0.75 peak made on Feb 9 & failed re-test on March 13. 

Don't miss the next upleg, ride that trend!!

Happy Hunting!!!

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