Incken drops, I bought RM1.....



This post has been edited by ciahcra: Mar 19 2013, 12:03 PM

No trading for me until 5/4. I'm in japan now enjoying myself . Happy trading everyone.

This thread dead already?

Was supposed to come back on 5th, but extended my stay until last week....lol

anyway, just do a quick browse today on my favourites, and I notice this:

ALAM: testing support at lower line of the channel


ALAM

I no good in stocks.....most that I've been posted either go longkang or not moving i guess....lol.

But ok, I'll try to post more stocks from now onwards.


I have my action plan for Alam, now just waiting for trigger.....

ALAM


ALAM: time to take profits!


My action plan was: enter when the price break the short term downtrend line (blue)

My cut loss is slightly lower than the previous candle before the breakout. And upon calculation of RRR, it did met my criteria of at least 2:1

Couple with BN's win which was expected to move the market positively, the odds seem to be in my favour.

So I'll just take a shot!

p/s: Notice the blue line that I drew. My entry always been after the breakout of the line, and rebound from the channel support.

This post has been edited by ciahcra: May 8 2013, 09:54 AM

MRCB

MRCB: Breaking out weekly downtrend line with increase volume. Higher low was form at 1.35-1.36. Could it be the start of an uptrend? Will EPF gives MRCB major role to develop EPF's land at Sungai Buloh? Time will tell....

PUNCAK: Resistance become support, supported by uptrend line. Hidden divergence between price and stochastic.


PUNCAK

No idea....as I'm not intraday player for stocks.

Looks like both MRCB and PUNCAK close strong.....interesting to see what happen next week. Could the momentum become even stronger, or just die.

P/s: I have position in these 2 counters. So my comment regarding these counters could be biased.....

This post has been edited by ciahcra: May 10 2013, 06:42 PM

I don't play penny counters....

except cliq-wa, but too late to inform already....

CLIQ-WA

penny counters, I prefer to use 30mins chart. fast in fast out! hehe

red highlight is where my entry is (break out of the sideways)

my signal was the green candle before break, with sudden surge in vol. couple with hidden divergence (price moving sideways, but stoch making lower low), gave me higher probability that the break out will lead the price higher, while keeping my risk low (CL around 0.24, which is about 10% losses when I entered at 0.265)

GOCEAN

Another penny counter that is currently in my radar: GOCEAN

- notice how the price not going any lower, but the stoch keep on going down. (possible hidden divergence)

- also, possible formation of a triangle (normally associate with continuation pattern)

- surge in vol during run up, and vol dries up afterward, but still significantly higher than before the run up.

- vol surge suggesting interest from investors/speculator/trader/gambler in the counter, an the dried up vol suggest profit taking not that severe to push back the price down, and probably most of the people who bought during run up still holding it.


something cooking behind?

my CL is independent with entry.

my CL always at place where price violates market structure:

- in uptrend, violates the uptrend i.e. making lower low (break previous low)

- in sideways, violates the sideways (price breakdown the sideways)

- in downtrend, violates the downtrend i .e. making new high (break previous high)

so....any penny stocks u want to recommend?

- Yeah, the number of lots will depend on how wide my CL is.....

- My TP are usually at the first visible resistance, or if it's a breakout from it's pattern (triangle, wedge, flag etc....) would be the height of the pattern from the break out point

- go to this website if you want to know how to measure TP given certain chart pattern (http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns)

- in case of GOCEAN, based on my 30mins chart, yes my entry would be break out above the triangle, and CL below the triangle. My TP would be the first visible resistance, which in my chart, is around 0.305 - 0.31

- based on that, my Reward is about 3 cents (0.31 - 0.28) while my Risk is 1.5 cent (0.28 - 0.265), which gives me RRR of 2:1. For me that's good enough. and

- I might hold the stocks eventhough it has reached the resistance, as long as I don't see any type of reversal candle / chart pattern (shooting star, dark cloud, bearish engulfing, double top etc...), couple with divergence between the price and stoch. If not sign of that, I may hold the stock a bit longer


- as for CLIQ-WA, the price has been moving sideways btw 0.245 - 0.265. So my CL normally slightly lower than the support, which in this case, is slightly lower than the bottom of the range....

moved already

honestly, I have no idea....i just trade what I see. If there's no sign for reversal, or still not hitting my CL, I'll just hold....

I'm exiting CLIQ-WA. enough profits, plus I sense weakness.....gonna look for something else....

Lol cliq-wa still not finish yet...i've sold half, hopefully can sell another half tomorrow

Yeah, i think can still go. However I need cash right now. And i still got half from my initial position. So all is good

Very quite now this thread.....

Anyway, some charts for this week:

MUHIBAH weekly chart


MUHIBAH weekly

MUHIBAH daily chart


MUHIBAH daily

Anyone wants to comment on this counter?