Malaysia Market direction on coming week (early August 06)
1)The Market uptrend signal has appeared on the last week.(refer to my last post for the detail)
2)In this stage of uptrend , only some counter can be contra, and it is suitable for position trading.
3)Position trading will allow you to gain more profit than your intraday or contra trading.
4)Only the counter with good momentum are good for position trading, Counter like, Rsawit , BCT tech and etc are good for position trading.
5)Speculative counter like, Eden , Leader will have potential to move higher after its consolidation.
Eden and Leader
1)The eden immediate support to be located at RM0.56
2)This counter has shown its strengthness on last week, if you see this counter can stay above 0.56 then its has higher probabilty to move up.
3)base on the chart, this counter can not below 0.49, if Eden below 0.49 , will be a dangerous sign, pls take note.
4)I dont forcast how much it will raise up, but we will base on the chart signal to execute the exit point.
5)Leader support is located at 0.43 , this counter is a follower of Eden, any major move on Eden will affect Leader too
Happy Trading and Good Luck
8 comments:
well, Our CI has gain beautifully for last 10days of 40 points, we will expecting profit taking in very short term, the support of CI will be located at 928.
AS for eden and leader, the support will be 0.56 and 0.43 respectively.
The market profit taking is within TPS expectation.
Remember, the market now have to stay above 928 then the upward signal will continue strong.
as for eden, i will consider to buy in again if this counter can be above 0.50 for next 2 day.
Any profit taking for CI not below 928 is consider hearthy profit taking, a market need to goes further, profit taking is a must.
what we can do now is to watch how must it can down, we also need to accumulate some stock during its profit taking.
support means the support line price;
1)if the price above the support line, we can let the profit run or you can watch out for the selling pressure on resistance.
2)If the price drop below the support, you can either cut loss or hold to next support . You also must understand current market is on uptrend, a profit taking is a must.When you understand the market trend then you will know what to do with your stock.
3)In TPS, you must have to know the current trend and with the current trend , you should use the uptrend stratergies.
Leader and eden is on the uptrend .
For Leader you can let profit run .
For eden, as long as the price above 0.50 , we still consider its on uptrend.
why leader and eden are abang adik? What are their connections?
They are co-related interm of TA movement.Both of them in the uptrend
Post a Comment