Mermaid Maritime    Last:0.105   -

Mermaid

All the oil n gas counters were holding firm today , the Bollinger bands of all these counters are expanding in the daily charts , but the weekly charts of the Bollinger bands are narrowing ,therefore , the trends of these counters will again keep on moving up , if the price moves out of the Bollinger band in the weekly chart ,the price will shoot up toward  the upper Bollinger band n  will follow the direction of the band to go north in the daily charts .

 

Hello Bintang,

Thank you for your reply and will buy some now at 0.52.

 

It ' s ok to buy now since the price is not too high , mermaid listed at $ 1.56 two years ago n went up to $2.36 , not like those S-chips listed at very low price but chased to very high  price then collapsed . If it can go back to listed price , I think this is still under value , further more , the fundamental is still very strong . Worth buying anyway .

 

Hello Bintang,

Now the price is 0.52.... really regret never took your advice to buy last week.

At this price of 0.52 do you think I should buy some?

Also, any other stock to look out for this week.

Thank you,

 

 

From the lowest price 19 cts to highest  64 cts ,u get the difference is 45 cts ,then divided by 3 n get  15cts, minus from 64 cts to get  49 cts , that is when the retreat is one thirdth .

 

Bintang Bro,

 

How do you determine the 49 cents support ? I read the chart but still dunno leh...  Thanks alot !

 

Accumulate when the volume is  low , if the volume is high ,the price will be high too . The upper Bollinger band is at 58 cts ,so don't forget to buy below that price at low volume .

 

today low volume 

 

Memaid  has already gone thru.the correction at 49 cts , it is going to cover the short term at 56 cts ,then it will go all the way again to hit 64 cts again  .

 

Mermaid may move back to 56 cts n cover the gap by today since the market recovery is so strong now .

 

Hold on to the target that I had mentioned very early few days ago .

 

Thanks Bintang, I'm still a newbie, so learning from you.. Hope we make $$ together !

 

After this sharp n short correction ,mermaid "share price still well above all the moving averages ,this means that the correction is healthy and necessary ,this is also to force out the weaker investors .

 

I bot some at 47.5 cts today , I have confident .

 

I collected again at 0.45

 

Mermaid finally test the 49 cts supporting zone ,following the broad market to rebound in the afternoon ,mermaid may also move up gradually . It may cover the daily gap at 56 cts in a few days time

 

Mermaid opens sharply down ,but still  holding firm above  that supporting point of 49 cts , it is a good entry point at this stage .

 

This counter has good fundemental and make profit evey year , if the economy turns around ,demanding of oil n gas would increase ,therefore there will be more drilling of oil wells ,that will benefit mermaid which is dealing with this business .

 

bintang care to care about this counter's fundamental area?

 

Someone asked me why the target is 94 cents for mermaid ,my answer is ,  if it can retreats to 49 cents ,then from there we start to calculate and get that target price .