Ok so the main point is to also take note of the company's stock pattern/behavior too

Follow u... I will follow u... No matter where may go... I follow I follow I follow lalalala

No la, wanna know what's your thought process behind that only lo. Dont think too much

NO.
LOL! You are not gonna improve if like that.
Now go use your S/R thing...
How would you continue this trade?

Err.. No to which part? Haha, you're referring to I shouldn't use stock's past behavior into consideration?

Well i did state my pov earlier, which was the price still above it's previous resistance/high, so normally would not exit yet, either maintain SL or move to breakeven. So wanna take note if i take into the stock past behavior how would i tweak/improve into my current method loooo

The results is impressive....

however.....
u might want to take into consideration that the stock jumped like hell today....
which means....
you cannot discount the possibility that the stock pulling back tomorrow...

The blow-off top is a buying climax. It develops as the end of a prolonged uptrend. It signals a change in the nature of the trend and shows a buying frenzy. It has three features.
The first is a dramatic increase in volume. This is a clear and unambiguous volume spike
The second is a dramatic increase in price. This is a bubble in price. The price activity near the volume spike is fast, and rises well above the previous trend behaviour. It may also include a substantial increase in the intraday volatility of price.
The third is the failure to hold the highs of the day. The blow-off top gaps above the previous days close, and may even rise higher in the first hour of trading. However the rise is defeated with steady selling. The close is well below the open and the close is near the low of the day. Often the range of the price bar is significantly larger than any preceding days.
The fast rise and its failure, shows that buyers have disappeared from the market. Sellers have to offer at lower and lower prices to achieve an exit. The close near the low of the day confirms buying and momentum exhaustion. The surge in volume is created by sellers as they become desperate to get out of the stock. The volumes urge does not come from buyers.

twhong_91

Have you reviewed your position?

When you first asked... we were looking at the below....



The uptrend was FIRMLY in place....

logically... waiting for the Q result was the ideal....

but then on the day of the report....

it went crazy...... it jumped like hell....



like I said.... we cannot discount the possibility of the stock pulling back....



so pulled back it did....

which means.... we are looking at a blow off top scenario....

perhaps this article might help....

http://www.guppytraders.com/gup345.shtml
Hope you reevaluate your position.

Good luck.

That would have been the preferred choice but I took into consideration of the div that would go ex on 28th.

Did you take into account that after ex price share price may trend below 80cent?

already quit VIS boon. 

Anyway, do you have any ideas on oil refinery business in malaysia?

currently I am in for Hengyuan Bhd aka Shell refinery as Shell sold their 51% stake to a China company.

This transaction caught my attention



3000 lots bought in at 3.90 which was a 1m trade.



Three oil refinery companies showing RSI oversold, and a possible uptrend.

I checked the crude oil prices on last quarter where the prices were low and crude prices have been priced higher on Jan onward, where the stock should be cheap and sell at higher prices. The first quarter should be recorded a higher net profits as compared to 1st quarter of 2016.

Woooo!!!



Impressive.

Couple of comments.

RSI as an indicator...  just..... don't over rely on it.
Yes, it's a lagging indicator.
And there's weakness....

esp in instances like this.
When a stock is over sold, in extreme cases, it can be oversold for a long time.
Or when a stock is over bought, it can be over bought for a much longer time than expected.

It's unreliable.

Why is why I probably won't base my entrance into these stocks based on this indicator.

I probably would prefer to see a change in the stocks trend.

Well make your own screenshot...
and write down .....

your 'new' plans for the stock.

this is a good thread.. will read on later

Yes. I know you always prefer a confirmation signal. But when i saw the 3000lots then i think must be some big guys collecting and jumped into the bandwagon. Haha.

gark

hehehe... do new thread.... since I see the possibility of you becoming a terror trader.
The other day I posted this to you.....
I realise this morning that I should update that posting after realising that my view is not that complete.

Here's the zoom in chart and I realise that this is clearing a ascending triangle chart.



And the zoom out view.



Ascending triangles are generally bullish



but it's not a 100% fail proof setup.

On instances, such charts can break down instead of breaking up...


.... time to pay attention hor...

Did you take into account that after ex price share price may trend below 80cent?

gark

Small what again?



( psst.... 2nd post hor.... if not for this stock.... I probably stay into the corner and play spiderman! )



Oh... there might be a possibility of some pullback due to the SMALL jump it made .... 

Looks like it reach new support level at 2.90... from the stock movement i see.. 

How you manage to see this movement?

Go above 2.90 then retreat back.. from high drop to 2.90 then bounce back..

Layman support term..

LOL!

Layman could also view this as resistance ma....
Cos it cannot get above 290.


Such stuff....
Errr....not advisable hor.....risky la.
See?
Your other S?
Day day go little up....
Stealth mode....
No good meh?