Nam Cheong - again on target.

Its was exactly a week ago when I recommended a buy-in on Nam Cheong when it moved into one of its reaction low @ 0.310. Now exactly a week later, the stock raised and closed at its highest price, 0.350. Clocking in a gain or more than 10% in just a week! Further potential upside to be expected. Analysis below.

Stochastic indicator moved into overbought region, MACD crossed its center line "0", into positive region. both show signs of promise in Nam Cheong continuation uptrend move. The stock is now at its immediate resistance of 0.350, a break above might see a strong shoot-up in price. My own target price will be @ 0.400. Let see if I am able to keep getting it right.

Cheers!

STI index - uptrend resumes

Buying opportunity arises. Index successfully broke out of short-term downtrend channel. Now to test immediate resistance at 3190. A break above will strongly indicate that the longer term uptrend channel is still intact.

Cheers!

Double posting today, Nam Cheong & Biosensor presents entry opportunity

Been awhile since my last posting, hence to make it up to my readers, this will be a double posting.

First up, Nam Cheong, I have quite a few old posting regarding this counter, you can have a look at the archives if your interested, this counter so far so good. Uptrend channel is still firmly intact, recent low presents another good opportunity for those that is not yet vested in this.

A more detail analysis will be updated. Meanwhile enjoy the chart.

Analysis Updates:
Nam Cheong. Uptrend channel firmly intact, currently price moving up from previous reaction low @ 0.310. Stochastic moving back up from oversold region towards its signal line, crossing its signal line with volume should indicate strong demand and likely a bounce back up to continue its uptrend. MACD moving less negatively below the center line. Crossing the of its signal line and back up above center line will demonstrate trend continuation. Cut loss price to set at 0.290, single bip below major support at 0.295. Target profit price 0.350.


Second post, Biosensors. This was once a popular counter amoung traders and speculators alike. Counter has been on downtrend mode for quite some time. However, recently takeover news provided new hope to this counter. After hitting a double bottom, the stock has been trading in range mode and moved out of its downtrend channel. Bit of caution, this however does not mean that downtrend is over. It just provides a good opportunity to enter at low if there really is a trend reversal. I believe with good trading disciple and a reasonable cut off price, this counter provide a good opportunity to go big.

Detail technical analysis report to come later. Chart as shown.

Slightly higher risk, but also higher returns.


Analysis Updates:
Biosensor, breaking out of a long down trend after take over news. Price have been moving in range mode over the past 6 months, forming a double bottom in the process. Recent break out from the downtrend forms a resistance neckline with the double bottom. A break out above the resistance line should cause price to move towards 1.10 level. Stochastic signal moved above from oversolf region crossing the signal line in the process. MACD slowly down fom its descend and closing in on its signal line. Cut loss set @ 0.86. High risk taker might want to set it 2 bips below double bottom support level.

Cheers!!