Friday, April 27, 2012

JCY - Reclaiming All-time High

JCY - Back to All-time High (27 April 2012)

JCY's recent share performance is FANTASTIC!!!

It reclaimed the 1.50 peak in Feb'12 like tofu, that's the beauty of a breakout pattern.

Now sitting nicely above 1.55, there's strong support within the 1.45-1.55 region. 

Depending on the coming 1Q'12 result, which should be out by 1st-2nd week of May, the share price might consolidate within the support range or continue its rocket up journey.

If the result beats estimate, I expect a light touch or two on the immediate support of 1.55 level, follow by a strong run to 1.80 level. The Cup&Handle pattern gives a breakout target at 1.93-1.95, which is the all-time high for the counter.

If the result is as expected, the stock might consolidate within the range of 1.40-1.50, building a base before any further upside.

If the result disappoints, then we shall see the sellers rush in & push the price down to find further support at 1.20-1.40 region.

The charts is telling me there's a high chances that we will see the stock reclaim its all-time high, or higher. We shall see if the fundamental will blend in eventually.

My previous posts on JCY:

JCY - Rechallenging 1.50 peak (Apr'12)
JCY - Rebound from bottom (Mar'12)


Thursday, April 26, 2012

FBMKLCI - Near- & Mid-term Outlook

FBMKLCI - Potential Reversal in the Near Term (April 26, 2012)

A check on the hourly chart shows potential reversal with a falling wedge pattern in formation. However, a reversal is only valid when we see a breakout of the wedge on solidly higher volume. A solid reversal shall be a closing above the immediate resistance of 1582.5-1586 region. While a confirmation of trend change from the 2-week downtrend will have to see the price close above 1590-1600 level (or for a better case, back above the 7-month trendline).

FBMKLCI - Price Broke Below Long-term Trendline (April 26, 2012)

Just a quick one. Rushing home for a webinar sesison.


Monday, April 23, 2012

NICORP - Lower Lows in Correction (A Follow-up)

NICORP - Lower Low (23 April, 2012)

NICORP opened higher at 0.530 but closed at the low of 0.505, which makes a lower low from the previous low of 0.520 on April 10. This nullify the breakout pattern I mentioned on my previous post ---> "NICORP - Saucer in Formation".

Nonetheless, without the pattern, or with "intended" distortion of the pattern, neither will be able to make me change my mind on the counter's latest rebound from the low of 0.430 earlier this month. Experience or instinct, both are telling me it's just another hanky-panky act from the SHARKs, so I called them. :p

More elaborations on the chart. Let's see if I'm right about THEM!


AGLOBAL - Still Bullish

AGLOBAL - 60min Chart (April 23, 2012)
Hour chart looks bullish since rebounded from the low of 0.170 made during late trading hours on April 19, which also marks 50% retracement of the April 17-19 breakout run-up. A retracement of an uptrend of <61.8% is consider bullish according to Fibonacci. Hourly candles is also supported by a short-term trendline (dark green, supporting intraday price movement), & also the mid-term trandline (light blue, supporting days of price movement). 

However, the shortcoming for today's bullishness would be the many buyers who had been rushing into the counter on the breakout day (April 17), with a whopping 515.664mil volume transacted. This made up to ~91% of AGLOBAL's 568.753mil share capital. Imagine a portion of that volume being force-sell later in the afternoon. We will be seeing some drastic drop of the share price. However, the pass few days saw some handsome volume (200-400mil+) transacted also, which shall provide some shelter to the force-selling effect later, presuming most of the traders already taken their profit throughout the 3 days. 

An open above Friday's high is a confirmation of the bulls strength & also the continuation of the uptrend. Shall the force-selling effect came on hard, we shall see support at around 0.200-0.210 region & any drastic drop below 0.195 level shall be a signal of the bears taking-over. We shall see to that.

AGLOBAL - Daily Chart (April 23, 2012)
On the daily, the trend is clearly bullish & a fibo extension gives a target price of 0.280 shall the price holds above the 0.190 level. This roughly coincides with the hourly target of 0.270. Hence, a good take profit point. We shall then let the price correct decently before we find another good entry to ride yet another wave up!

Enjoy! Happy Hunting!! :)

Thursday, April 19, 2012

JCY - Rechallenging 1.50 Peak

JCY - Q2'12 strong result in anticipation (April 19, 2012)

HIBISCS - Perfect Flag Motion

HIBISCS - Streak of perfect Flag Patterns (April 19, 2012)

Just picked this chart to show case the power of candlestick breakout patterns. 

Taking a closer look at HIBISCS will see that the share price run-up from Oct'11 until the recent high of 2.19 (April 13) has been in a streak of flag breakouts!! And the best part of it will be that we are looking into another flag in formation right there after the recent price spike to a peak of 2.19. Based on the historical data, the flag formation can take 1-2weeks, latest within 3weeks, to form. We shall wait there & take the advantage of the 1-day breakout spike to profit handsomely.

This is like the perfect material to appreciate the flag breakout pattern theory. More candlestick patterns can be found at: Candlestick Analysis - ChartSchool

Enjoy!! Happy Hunting!!

Friday, April 13, 2012

FKLI - An Outlook

Hi All.

Did some research on the FKLI yesterday after market close. Just managed to post it up now. 

I was expecting some short-term bullishness on the index future after my analysis. This is well-boosted by the over 15 surge in the US & Europe main markets yesterday night.

Though riding on an ascending channel, still there are very mild buying due to the fact that index is already at historical high, & price-momentum divergence is getting more & more obvious, almost like replaying the Jul'11 peak itself. Also, there is none fresh catalyst to boost sentiment except the long-awaited announcement on dissolving of the Parliament & GE-14. Regional side, we just saw the worst Non-Farm Payroll (NFP) figure for CY2012, created a mere 120K jobs in March'12. While last night saw jobless claims jumped to a high of 380K, right below the 400K mark which was successfully broken late last year since the economy started to bottom out.  

Check out the US market on the MarketWatch.

Referring to a Tweet update on the current US economy status:
"...Unemployment Rate: 8.2% March. Non Farm Payroll: 120,000 Mortgage Rates Average:30 Year - 3.88% 15 year - 3.11% Retail Sales Dec.: 0.1%Manufacturing Index Dec: 53.9 Consumer Confidence Index Dec: 64.5 GDP Q4: 2.8%...Last update: 4/12/12.."
Local side, we shall see the index climb slowly, despite on low momentum, right till the GE announcement is released. After which, the optimism boost factor will fade & shall be replaced with cautious stance & selling on political uncertainty. That moment shall see the momentum divergence take its toll to correct overbought price level. Foreign funds flowing out will be obvious by then. 

Nevertheless, keep riding on the GE optimism, at least until we see trading volume spike again on fund actions.
Read on my take on KLCI 1H'12 outlook posted earlier in the year.

Enjoy!! Happy Hunting!!
FKLI - Near-term outlook (April 12, 2012)

FKLI - The 7-month+ Ascending Channel (April 12, 2012)

Tuesday, April 10, 2012

NICORP - Saucer in Formation

NICORP - Saucer in formation (April 10, 2012)

This is following my previous post on NICORP breaking out of its correctional downtrend channel on April 05, followed by a 2-day strong run up to previous peak of 0.575 on convincingly higher volume. 
It then retraced 38.2% of the run-up to form a base around 0.520 level. Late trading today saw price shooting up to touch 0.56 level briefly, before closing lower at 0.54. 

After such movement, I reckon that NICORP might be forming a slightly tilted cup-&-handle pattern, with the left peak at 0.58 (March 21), & right peak at 0.575 (April 06). While last two days correction looks like a 'handle' in formation, retracing about 1/3 of the previous run-up. The HANDLE usually takes about half the time or less to form compared to the CUP. Thus, giving us 4-6 days time starting from April 09. However, subject to market volatility, any convincing break above 0.58 shall mark a successful breakout, targeting a 0.145 range.

To the downside, any break below April 9&10 low with high volume shall nullify the pattern formation discussed.

On another hand, shall price successfully reach the TP@0.72, we will be in another bigger saucer pattern with the left peak being the Mach 12 peak of 0.73-0.75. We shall then wait for another correction from the rally & ride on that wave up to challenge the 1.00 mark.

Of all the speculative counters, NICORP is just my favorite for its more predictable trend & movement. Do not refrain yourself from these 'HOT' counters as they might just be able to give u that handsome profit which comprise almost the annual return a big-cap like DIGI or DLADY can offer. Still, this counter is ONLY FOR RISK-TAKER !!  That's me!!  :D


Monday, April 9, 2012

SHCHAN - Rechallenge 5-year high

SHCHAN - April 09, 2012 - Broke above 5-year high of 1.20

SHCHAN, or Sin Heng Chan (M) Bhd, with their main businesses in feed-milling, day-old chick, & recently ventured into plantation (2007), has gain some interest recently following its successful break of the its 2007 high of 1.20 last week. With the company diversified into PLANTATION sector few years back, their estates should now be matured for harvesting, just in time to ride the recent bull run of the CPO prices, which broke & closed above 3,600 level last Friday. 

Expect some consolidation to take place after the strong gain of 30% in 2 days time. Previous consolidation went on for half a month, providing some insight as to when the next up-wave will come, which may just be sooner or later than 15days time.

Improved volume spell bullishness of the recent gain. Thus, consolidation should be in low volume as observed in the preceding correction wave. We shall continue to watch the counter & wait for the signal to enter. However, deep-pocket players may accumulate between 1.10-1.15 region during the consolidation period & we are looking at 1.618 fibo target of 1.60 after successful breakout of the on-going consolidation wave.


Friday, April 6, 2012

NICORP - Channel Breakout

NICORP - Channel Breakout (April 06, 2012)

NICORP, after 18-day consolidation, yesterday broke out of the downtrend channel from 0.430 low, confirming a breakout which has a target of 0.235 in range, giving TP@0.665. If able to break 0.670, We will see another attempt to break the 0.70-0.75 peak & this time it should have more momentum & higher probability to break a new high. If true, we will be waiting at the 1.00 mark by then.

MTRONIC is also in the midst of breaking out of its recent downtrend channel. Will talk on that in another post to come.


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