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Remember I mentioned about K1 when it hovered around its resistance price of 20? It tested a few times to cross 20 but it failed. It has to go down lower before it can power up again to break it. It is the same for Rex. The only difference is that you see it the opposite way. It hovered around its support price of 77 and tested it 3 times but did not break it. If it needs to break it, it will have to move up higher before it comes down to break it. I don't mean that when it moves up, it will definitely drop back to test the support. It may go higher also. I believe currently there isn't many retailers have this counter on contra. Thus, there is a higher chance of it moving up. Unlike Rex, there are many retailers holding Geo on contra bought in the past 2 sessions. As such, this counter is likely to drop further. I want to explain about what I mean by taking a rest. In my opinion, 'Take a rest" mean a counter has to open near its previous closing price, move up and down on that day and eventually close slightly down. For Geo, it open 6 pips lower than previous day closing price and close at day low. I don't call this " take a rest" . I'll call this a 'price drop" . I would expect it to drop further to test its nearest support of 37.
Good Luck!
Huat ah!
Any advice on ISO team? Wanted to enter at 0.39 last Friday buy no luck... Any advice?
But our boss ace333 said he will short @ 0.77 leh... So I'm 50/50 here for Rex... I have been monitoring at Rex for a week... Seems party and move both ways.
iluvboost ( Date: 25-Aug-2013 08:47) Posted:
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Hi all sis and bro compare last week today here is very quiet don no all go where?
better say first also.. in case ppl think i am good. i have been trading for 4 yrs. made more losses than profits. so i am as crappy as can be man. its through chance that i came to this forum and really am so excited to really learn and discuss the different styles of trading from the more experienced traders like ace333, stockcham, librajet and justjoin. seriously, the stuff they say are rarely mentioned in trading books. thank you teachers for your kind sharing!
first lets do our own homework. cannot anyhow jeep jeep. there are bulls and bears fighting. it does appear to be slightly more bullish to me. (my own opinion), dinosaur doesnt look like it will move big yet (of course anytime tml the chart can change). i would like to share one thing about stop losses..the bbs know where your stop losses are because they create the chart. if you see the recent low 0.77 like on the 16th, some would have put their stop losses there . on friday, some ppl would have been stopped out when the price hit 0.765. that is why some might have experienced going through the disappointment of hitting stop loss then the stock chiong up. if you can or if u are comfortable, put stop losses 2 pips below the support. the cons to this is you lose more.... so stop losses its better to decide on your own and stick to it. everybody got different stop losses and mine also changes as the hour passes.
i like the bird that cannot fly counter. thanks to bro stockcham for pointing out. i have done my homework and want to bounce my ideas off other like minded traders. not a buy call but we can watch it closely.
Simpsons ( Date: 25-Aug-2013 09:39) Posted:
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ME:looks like left side head and shoulder have formed.Have to see what is next.
Rex:Chart shows steep distribution since it plateau on 14 Aug 13 @82c.I think it can hit 73/74 within 1-2 weeks time.I might be wrong.
My 2c opinion.
Yes. That is what i am referring to. Kum siah..
cskshares ( Date: 25-Aug-2013 10:44) Posted:
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Ok thanks Bro stockbabe. I choose to stay out cos chances of bouncing back is still 50-50. Maybe I'm wrong.
stockbabe ( Date: 25-Aug-2013 11:26) Posted:
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Bro, is Rex.
JarolLo ( Date: 25-Aug-2013 11:21) Posted:
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Sorry that counter are you guys taking about?
didisiaosiao ( Date: 25-Aug-2013 11:14) Posted:
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The close is 775. I dun think it will open at 76-765. Likely open 775 or 78 Or even 785 unless regional mkt under deep water.
Bro, for 0.76, I think Bro Simpsons is referring to Cut Loss price.
Stockcham ( Date: 25-Aug-2013 10:32) Posted:
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Wah bro, you fast hand fast leg le! Huat ah!
didisiaosiao ( Date: 25-Aug-2013 09:45) Posted:
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Not really! If matched, 765 safer! If matched price is 76, then buy only if it is expected to cross 765 or if it moves above 765. Huat ah!
Simpsons ( Date: 25-Aug-2013 09:39) Posted:
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Yea. I hve jeep n based on my observation......e second leg mght b coming very soon...... very.....
So can buy at match when open? SL at $0.76 should be safe?
Don't know why the " not" is missing. Should be " still did not close below 77" . Third times cannot break 77. Very good le.
Stockcham ( Date: 25-Aug-2013 01:32) Posted:
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good tip bro...good to enter 765-775 with a tight SL set. 2 fridays ago was the big drop. 2 mondays ago was the up. Monday coming.
77 is a strong support, if break with high volume & consistently thrown down, need to Stoploss immediately.
77 is also the shorting region if break....
Stockcham ( Date: 25-Aug-2013 01:32) Posted:
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This week I will like to share one counter.
Rex - This counter has been a power house previously which many peoples talks about it and likes to jeep. But now it has changed. Peoples all focus on Albedo lah, Tritech lah and then Mirach lah. Some have forgotten about Rex. For the previous few session it open higher than previous day closing and close below opening price. 6 black candles in the last 7 sessions. No good on the chart. But the good news is
1) Many peoples are scared to jeep this counter. Stocks likely to move when retailers are scared of it.
2) It created 6 black candles out of the last 7 sessions but yet the price still did close below 77 support.
3) Previously it doesn't break 77 during the trading day but on friday it break it to touch 765 but still managed to close above 77. I think it has started to show some signal that a movement is coming... whether it is up or break 77. I believe it is up.
Fyi, 2 days before the last breakout, it was 2 black candle and the next day suddenly chiong. It did not show any sign of a chiong. It may perform the same way this time. This Rex has rested for quite a while. I don't think a power house just not long ago will take a long rest. I believe it is going to move soon. I will buy if it open same price as previous day closing price or if it open lower than previous day closing price. If Monday still open higher than Friday's closing I may not buy.
That's just my thoughts. May not come true. Pls DYODD.
Good Luck! Huat ah!