Can you see the similarity on the 4 charts below?. $Cosco(F83) $Japfa(UD2) $RH PetroGas(T13) $Super Group(S10)

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!

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amanlee

Thanks for sharing bro. I am looking at $Super Group(S10). Looks like the bottom is formed.

amanlee

Reply to @Stockcham : When it looks easy to make money, there maybe a trap. Super maybe a good for long term investment instead of short term though. I know long term is not for you. lol...

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Many peoples may not agree to what I'm going to share now. In weak market, we usually advice peoples to stay sidelines. Stay at sidelines is safe rather than throw money into the drain. But is it the best way to stay sidelines. It depends on how you look at things. I'm not against peoples to stay sidelines when market is weak. But at times, we can look for opportunity. Is there any opportunity in a weak market?. Of course there is but whether in weak or good market, there is still risk. So if you can swallow the risk, then you can try. Frankly, my opinion is if you want to be a good trader, you will need to go through the storm rather than stay sidelines. Only when you go through will you learn something from there because if no money is involve, your emotion is not trigger and thus you can't really learn things by staying sidelines. But one need to know is that if you intend to go through the storm to sharpen your skill, you will also need to reduce your risk by going for smaller position and trades. By doing that, it will not hurt your pocket too much while you are experiencing the storm.

Now let's talk about opportunity. The opportunity in weak market is to pick durians before it rebound. Is it easy to pick durians?. Not easy. You need a lot of guts to do that. Durians got a few types. When market drop a lot, everywhere is durians. We don't just go and pick any durians that is on the ground. We try to pick the better durians which have a chance to be musangking and safer to eat. Of course, nothing is 100% safe. When we go to pick durians, we may encounter storm again which will shake more durians onto the ground. But if we want to have a good durian feast, that's the risk we must take. So what kind of durians to pick. I based on my experience to share some below.

1) A stock that is green among a sea of red on the bad market day shows power.
2) A RECENT POPULAR stock that have dropped too much in a day with big volume
3) A RECENT POPULAR stock that have dropped continuously for many days(due to bad market sentiment & not company issue)
4) An uptrend stock that have dropped due to bad market sentiment

Point 2 & 3 are very important. Reasons is because

1) BBs was around recently. So some may not have fully unload or they may still be interested in the stock because their plan to push up may be spoilt by the bad market.
2) When a stock drop a lot, it can also rebound a lot.

We don't choose a stock whereby it only drop a few pips during the bad days because when it rebound, it only rebound a little. We also don't choose an old timer stock where the BBs is not in working mode or no BBs.

So now, how to pick?. We need to do some homework. We need to pick at support price. The stronger the support, the better and safer. Stronger support means support that have been tested many times previously or Fibonacci Retracement support or trendline support.

I just RANDOMLY choose 4 counters for explanation purpose. Below are the chart for Rowsley, Spackman, Cosco and Terratech. You can see that the closing price is still a few pips from the stronger support. That tells me that these counters can still drop. We know that Friday Dow dropped nearly 400 points. This will mean that chances for these 4 counters to drop and hit their support on Monday is HIGHER.

We know that everyone is in fear now. Stock market is like that....when many are very bullish, the market toh. When many are in fear, the market can rebound especially after a SHARP DROP. Based on this theory and the charts, my prediction is that Monday these counters MAY hit their support and rebound. Market cannot always drop. Even though market is still weak, there will still be rebound before it drop further. So after we pick durians and the market rebound, we need to sell the durians to other peoples on the rebound. We don't hold longer trying to make more because we are not in a bull market.

$Thomson Medical(A50.SI) - Support around 146-148 area
$Spackman(40E) - Support around 90-91 area
$Cosco(F83) - Support around 275-285 areaa
$Terratech(40I) - Support is at 36

Do remember, when we pick durians we also need to set a SL price. I would suggest SL 2-3 pips below the support price.

The above are for reference only. Not an inducement to buy. And the above are for discussion purposes. If you don't agree to pick durians in weak market, it's ok but don't hoot me for telling peoples to pick durians. Anyway, my views may not be correct and market may toh further. So dyodd plssss. We share and learn together. Let's see how Monday perform.

Last but not least, I declare that I don't have the above 4 counters. Pls note that I'm not focusing on these 4 counters but just anyhow choose 4 counters as examples.

Wish all can huat huat!
Just some weekend sharing! Huat ah!

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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!

$Yoma Strategic(Z59) $Lian Beng(L03) $Chasen^(5NV) $CNA^(5GC) $RH PetroGas(T13) $SBI Offshore(5PL) $Valuetronics(BN2) $Yuuzoo(AFC)

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This coming week market should be good. I would think those stocks that got trashed down severely in the past weeks especially those between $0.40-$1.00 should be in the limelight. Pennies may just follow to move a bit. Counters like $Rex Intl(5WH), $RH PetroGas(T13), $Sino Grandness(T4B), $Ramba Energy(R14) and so on should see more recovery. Let's see which one will recover more. For pennies, I think $Mirach Energy^(AWO) and $Vallianz(545) will stands out against other pennies because they dropped more recently. Pls DYODD. Huat ah!

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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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