Watch out for $Halcyon Agri(5VJ), $Rex Intl(5WH) and $RH PetroGas(T13) this week. There should be more upside within this week. CHart wise for these 3 counters look very good.$Rex Intl(5WH) on Friday broke 2 DMAs resistance at one go. This show power. $RH PetroGas(T13) Friday gap up and test 965 resistance. Should hit 100 by this week.$Halcyon Agri(5VJ) finally broke out after deceiving retailers so many times. This time the upmove should be powerful. I see it going to 100 very soon. Let's see. Huat ah!
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Busy days lately, so didn't post much. Now got a bit of time share share a bit.
If you look at the oil counter leader $Ezra(5DN), it hit the DMA support 74 and hold well. Day end matching we saw many lots match at 76. This is unusual. Why unusual?. Because market is weak. Why so confident dare to matched buy so many lots at 76?. Unless someone knows that the oil counters going to rebound.
I have posted 3 charts....$Ezra(5DN), $Rex Intl(5WH) and $Nam Cheong(N4E). All hit support and hold there. We should see some rebound from here next week. Can take a look at $Keppel Corp(BN4) chart also. Also hit some support. Sooooo, next week oil counters should have high chance to rebound. They may helps to lift up market sentiment. We shall see.
Pls dyodd hah. Suay lang's post must dyodd & kkkhh.
Below is $Halcyon Agri(5VJ) chart. Friday is T+5 for this counter. We can clearly see BBs supported it at 71 which is the trend line support. From the previous session this trend line supported very well. I will presumed that this trend line will continue to support well. In a few days time, the trend line support will move higher which means that if Bbs don't want it to close below the trend line support, they will have to move it higher. Now look at the previous candles. About every 5 days from the move up, it will move up again. Now already 5 days from the last move up. My bet is that it can move up from here anytime.
This is not an inducement to buy. Pls note that I'm vested in this counter at 72.
Just my view nia. I may be wrong. Pls dyodd.
Indentifying the market leaders is very important because market sentiment during rally can depend on market leaders. When market leaders move up, many stocks will follow. When they retrace, we will see selling pressure in many stocks. Market leaders can change. It can be Counter A, B or C now but it can change to Counter D or E and so on. Market leaders are usually the one that move a lot continuously & usually in top volume during their move.
Who are the current market leaders?. They are $Rex Intl(5WH) , $Geo Energy Res(RE4) & $AusGroup(5GJ). Geo & Rex lead for the past few days but Ausgroup is the one leading on Friday. So if any of these 3 chiong up, the other 2 and other stocks will follow to move. Likewise, if one of them drop, the other 2 will likely drop n many stocks will be under selling pressure.
So how will most stocks move this week?. I have posted the chart of these 3 market leaders. From the charts you can see that Ausgroup & Geo hit the DMA resistance & retrace. As I have mentioned before, it is not easy to break the DMA resistance ESPECIALLY if it has it has moved up so much. So likely it will take a rest & continue it's uptrend OR it will start to continue to drop from here. Nobody will know. Now we look at the past 2 days volume bar. Past 2 days volume for Rex, Ausgroup & Geo was very high compared to previous sessions. Very high volume usually means distribution has taken place. So, the chance of Geo & Ausgroup to drop on Monday or Tuesday is higher. Although Rex have not hit the DMA resistance, but it's very near to DMA resistance & volume is also very high. It MAY or MAY NOT hit the DMA resistance before it drop. Even if hit, it will still retrace. So when these 3 market leaders drop, many stocks will be affected and follow to drop.
So is the rally over?. There's still some hope. Usually this kind of rally(not bull run) will last between 2-4 weeks. The rally already 2 weeks. It may or may not continue. BUT....many cheap pennies(those less than 10cts) haven't really run. Thus, the rally will likely continue with attention shifted to cheap pennies. On Friday, we started to see cheap pennies on top volume e.g. Charisma, Jaya, RP, Jiutian, Chinese G, Vallianz, Spackman & so on. And counters like Sapphire, Asian Micro, Magnus, Joyas & so on started to move.
So....at the beginning of the coming week, be prepare to face some knee jerk selling when the 3 market leaders starts to drop. But it should stabalised after that when cheap pennies started to take over as market leaders.
Is there any money making opportunity then? Yes! If you want to long, be prepare to look out for cheap pennies. If you want to short, look at the 3 charts that I have posted. Q to short at the DMA resistance(shaded) or 1 pip below the DMA resistance. The chances of closing above the DMA resistance is low. Of course, the price may not necessary move to the DMA resistance since it has hit. It can start to drop from where it is.
The above is just my view. It may not move according to what I predicted. So pls DYODD or KKKHH. Don't blame me later on.
Just some weekend sharing. Huat ah!
As I have mentioned earlier, STOP LOSS is not simply put 2-3 pips below your purchase price. There are many scenarios that you need to SL. I will shared one of the scenario that you need to SL. This is written in my ebook. There are quite a number of scenarios I mentioned in my ebook that have to SL. I can only share one of them as a preview else peoples think si mi si lang ebook dare to sell at the kind of price. My sharing is not to promote my ebook. But because many are still not sure of SL, so I share one of the important one here.
I have posted 8 charts for your reference. 1 chart may not be able to convince you. So I posted 8 lor...lol.
From all the 8 charts you can see the similarity. The counters trend up for a number of days. Then we see on one of the day it created a super volume compared to other days. And you can also see there was bigger movement intraday on the day of the super volume. When you see this, likely the BBs run road liao. So the volume give a very important signal. This is one way you use volume indicator. If the counter move more pips than usual on the super volume day, then it increase the possibility that the BBs run road liao especially when it hit day high and retrace a lot on closing.
Therefore, if you pick up a counter and it's on the uptrend for a number of days, always watch out for super volume on a particular day. This is one scenario that you need to exit. You see super volume in an uptrend, no need to think twice. Just exit.
Paiseh, I can only share one sell signal here. As I have mentioned, no analysis or theory works 100%.
Just some weekend sharing! Huat ah!
The price dropped till a certain price and formed a temporary base of 3-4 days. You can see before the base was formed, there were many black candles. Then finally we see a white candle. The white candle is sort of a final confirmation that the price gonna reverse direction. Whether is it a long or short reversal I can't tell. So if you see that the counter starts to form a temporary base, watch out for small white candle to appear and you can actually try buy some with Stop Loss fix at 1-2 pips below the base price.
As I have mentioned many times, nothing is 100% in stock market. We are talking about high or low probability.
Some weekend sharing!