Nam Cheong - Another good entry opportunity.

post first. will update post again later. brief description is in the picture. night.

Update:
As seen from the chart, Nam Cheong was sold down to $0.305 level on 27 Jan, the sell down was mainly inline with the peak and trough of uptrend chart, however going down to $0.305 level seems abit too much as it is hits the 50ma support level with speed. The heavy sell down is likely due to recent poor sentiments on Asia markets, especially the emerging markets. However, as sentiments soon stabilizes, and Nam Cheong bounds right back up (on 28 Jan)

Charts shows good support @ the 50ma level, with stochastic reaching its low (below 20) and moving back up towards the signal line and 20 line. MACD also show declining strength of the negative MACD histogram and is moving closer to its signal line.

From the candle stick patterns, the gap down on 27 Jan might be last of the sellers liquidating all holdings to get out likely due to profit taking, coupled with poor market sentiments. However, the gap up on 28 Jan shows that this is an exhaustive gap and that selling pressures is diminishing, hence the gap is quickly filled as the price reverses with little remaining sellers. Price action shows that uptrend channel is still firmly intact, with first trough hitting the 50ma support since the break out above $0.300. This gives a good buying opportunity for those who missed out on the ascending triangle break out few weeks ago. A good entry price would be around $0.310 with tight cut loss at $0.300 (5%) of break out price.

Cheers! and please share my blog if you have profit.

p/s: current market sentiment is weak, due to weakening of emerging market and poor data statistic from China and Europe, hence cutting loss is very important when things start to go south. And lastly, please trade within your means.

RH Petrogas - short term up trend broken

After over a month of short term uptrend, RH seems to be unable to break resistance of $0.64 and has come down from there. The narrow uptrend channel has been broken, with current price supported at 150ma level $0.585. Any further downwards pressure could see 150ma support broken and price test $0.560. Any further break will see price move towards $0.50.

Things are not looking good as MACD has crossed its signal line and seem to be crossing the center line soon, which will signal a change from uptrend to downtrend in the near term. Price has also touched the lower bollinger band for the first time since the narrow uptrend which shows a gain in downwards pressure. Coupled with poor market sentiments throughout the whole Asia market, it would be better to get out and wait for recovery (if any)

RH PetroGas - upside to continue..

It has been awhile since my last post. Market has been quite quiet for the past week, not much movement on most of the charts except a few penny stock which is heavy speculated. Although global outlook for economy seem to be good at the moment but investor confidence is not quite there yet.

During this quiet week, I notice that RH PetroGas has been slowly continuing its uptrend, though movement are narrow and moderate its price is still slowly creeping up.

From the chart, price has been moving in a narrow uptrend channel. Recent consolidation at 0.605/0.610 provides another good entry point for those who has missed the initial breakout (link here), this is further supported by the lower uptrend channel line. Stochastic is moving closer to its signal line, a cross over will signal further confirmation of continuation for upside. Tight cut loss to be set @ 0.585 (5% loss)

Remember to share it you have profited. Cheers!

Good Chart for Sharing

This chart shows the gain vs loss percentage. Think this is specially useful if you are doing short to mid term trading.

The charts show how much % gain you need to achieve for in order to break even with the amount of % loss. Example: for every 10% loss today, you will need to gain 11.11% tomorrow in order to break even.

This will help you to determine your stop loss price and target profit margin. For me, I uses a stop loss of 10-15%(highlighted below).

RH PetroGas - post first talk later

post first talk later.

EDITED ON: 9 Jan 2014

Understand that this analysis came late, but better late than never. At current point of writing, the break out has already happen. For those less risk adverse, you might want to wait for further confirmation and wait for good entry position (check back here, i will post when it happens ;). The analysis, as see from above, another ascending triangle formed from mid Nov'13. there is strong consolidation towards the end of Dec'13. The recent low in stochastic provide good entry position, and stochastic cross-over provided further confirmation of strength. MACD cross over from the center-line shows a bullish crossover, confirmed that uptrend is intact. Centerline crossovers can last a few days or a few months. It all depends on the strength of the trend. The MACD will remain positive as long as there is a sustained uptrend.

Good luck for those that have entered. Near-term TP is $0.70.