Market has entered into profit taking correction, its immediate support located at 898 .Market momentun is still intact as long as it can above 900.
By base on today (17/7/06) market movement, its has found to be support at above 900,we can see that market selling force has been reduced, below are the event to be appeared;
1)Technical re-bound will be appeared in short term and the resistance to be located at 915.
2)Since we has exit market on last Friday, we are able to enter market to buy at the cheaper price on technical re-bound.
3)Counter to be monitor for technical re-bound; Sugar , RHB , Tebrau and etc....
4)If you join for the technical re-bound, pls remember to put on your profit taking and cut loss point.
17/7/06 (Monday) closed at 902.7
Happy trading.
21 comments:
If tomorrow market breakdown to 880+ level, it will be a good sign for market to re-bound.The more it drop, the stronger it re-bound.
i will update inside this blog comment section, if i have detect the re-bound signal.
sagil sms me ok
if getting the re-bound signal
thanks
Lion,
sms your number to me, i will let you know.
Twinkle,
e-mail your phone number to me, i will let you know.
no, i dont receive
received
technical rebound has started, remember to take profit.you can buy the counter which i has mentioned. the CI resistance located at 915
If you have follow the technical rebound, ple refer below for advice;
1)if you are intraday trading or contra, you can take the profit.
2)if you are short term, take half of your profit and another half fight for higher profit.
remember, if the price reverse back and break the support level, take all profit.
You are getting more pro....congrat!!
CL Lim,
Thanks for your comment, i still need to learn from you, you are the expert. Give me a call when you come to singapore and hope to see you soon.
Those who have follow my advice on Sugar, RHB and tebrau;
If the counter still show its strength, keep it.
If the counter show weakness and break support level, sell and take profit.
Currently 3 counter has no sell pressure yet.
The coming few day is importance, it will tell us where is the market real direction.
Remember, the market uptrend still intact if CI able to stand above 900. And let say CI can breakthru 915, the market will test for the solid stage uptrend.
I'll come down to Singapore this weekend, I'll call you then.
Looking forward to see you too :)
polytwr and oilcorp, let the profit run
As i mentioned yesterday, CI need to above 915 then our market will extend its strength, if not , the market will still located at the technical re-bound stage.
For Singapore counter, you can consider ;
1)Jiutian : S$0.585 and
2)Luzhou : S$0.70
Both counter has no sell pressure and it will extend its gain.
If later market PANIC again, you have to execute your profit taking and cut loss.
Invest88,
as i have mentioned many time, the index below 915 is consider technical re-bound stage , we ride on this re-bound stage, we need to prepare profit taking and cut loss.
If later you seem market PANIC and you have to execute the profit taking or cut loss.
Now, actually very simple , If you seem Iris below RM1.00 , Pls exit this counter , below RM1.00 is signal this counter is continues its weakness trend.
i would suggest to stay sideline first and when market stable, we can put in our troops again.
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