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With the huge volume done today , mermaid would go down to test new low later .
Bintang ( Date: 22-Jun-2010 20:09) Posted:
Mermaid rebounded to 56 cents recently after forming the bottom at 44 cents . It not only formed the reversal pattern today , but also broke the bearish rising wedge with large volume . It would go down to fill the gap at 46 cents very likely . If the strong support at 44 cents could not hold , then it would go down below 30 cents after measuring the distance from the rising wedge .
Bintang ( Date: 25-May-2010 17:42) Posted:
| Unfortunately , mermaid hit the downside target at 44 cents today , n the trend is still very weak , any rebounce should be a opportunity to sell |
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Bintang ( Date: 22-Jun-2010 20:09) Posted:
Mermaid rebounded to 56 cents recently after forming the bottom at 44 cents . It not only formed the reversal pattern today , but also broke the bearish rising wedge with large volume . It would go down to fill the gap at 46 cents very likely . If the strong support at 44 cents could not hold , then it would go down below 30 cents after measuring the distance from the rising wedge .
Bintang ( Date: 25-May-2010 17:42) Posted:
| Unfortunately , mermaid hit the downside target at 44 cents today , n the trend is still very weak , any rebounce should be a opportunity to sell |
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Mermaid rebounded to 56 cents recently after forming the bottom at 44 cents . It not only formed the reversal pattern today , but also broke the bearish rising wedge with large volume . It would go down to fill the gap at 46 cents very likely . If the strong support at 44 cents could not hold , then it would go down below 30 cents after measuring the distance from the rising wedge .
Bintang ( Date: 25-May-2010 17:42) Posted:
Unfortunately , mermaid hit the downside target at 44 cents today , n the trend is still very weak , any rebounce should be a opportunity to sell .
Bintang ( Date: 24-May-2010 20:44) Posted:
| Mermaid went down further without rebounce , its RSI is at 22 which means that it could go down further .Directional movement index is of course negatively placed n ADX is rising from 31 .Further more , the share price has fallen n penetrated the downward channel recently , technically , if the final support at 44 cents fails , then the share price may go down to 26 cents eventually |
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Their TP is very very short term based, almost like day to day changes. haha...
rickyw ( Date: 22-Jun-2010 11:39) Posted:
This CIMB, when in April issued TP $1++ now they downgrade to $0.49... This world, full of game...
bishan22 ( Date: 22-Jun-2010 11:27) Posted:
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Will scoop up again as I have took some kopi money. Heng arh.......
If there is a bearish candle at the closing , it may go down to fill the gap at 46 cents .
Bintang ( Date: 05-Jun-2010 08:43) Posted:
It may come down to fill the gap at 46 cents in order to form the bottom .
E-war ( Date: 05-Jun-2010 08:04) Posted:
| Congrats to those who sold off. Mon sure lao sai... |
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SHORT it lah!! go with the trend! :P
This CIMB, when in April issued TP $1++ now they downgrade to $0.49... This world, full of game...
bishan22 ( Date: 22-Jun-2010 11:27) Posted:
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Mermaid has been testing its critical resistance at $0.55 for the
past weeks but yet to break through. It closed at $0.55 with high
volume of 16.5 million shares traded.
A white candle stick with long upper shadow shows the hesitation in the rally as its approaches the resistance at $0.55
Both RSI & MACD are bullish as both indicators are trending upwards smoothly.
Important Resistance of Mermaid: $0.55
Immediate Support of Mermaid: $0.525
We would not encourage anyone to enter this counter as any technical
bound will be normal after a recent heavy sell down which already
happen 2 times during its major down trend.
SEE CHARTS
However if you really like the fundamental of this company, buying at break out of $0.55 at high volume would be a good choice
Mermaid did not come down to form the double bottom .It bounced back to cross the resistance at 53 cents today n stopped by 30MA at 56 cents . DIs are positively placed now ( but not weekly ),it may go up if the volume keeps on increasing . But there is still a very strong resistance at 67 cents , ' long ' positions must to close if the target achieved .
Bintang ( Date: 05-Jun-2010 08:43) Posted:
It may come down to fill the gap at 46 cents in order to form the bottom .
E-war ( Date: 05-Jun-2010 08:04) Posted:
| Congrats to those who sold off. Mon sure lao sai... |
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Hi , happy to know you are back . Sharing n caring are needed in this forum , I m just doing my part .As I was posting my comments on any counter , I made sure the comments were purely based on TA . Therefore FA did not play any part of the comments . I would also like to see your comments in terms of FA .
Bintang .
Zenpal ( Date: 15-Jun-2010 12:57) Posted:
Hi !
I am just back from overseas and I wish to tender my sincere apologies to Bintang.
Bintang - Please keep up your Good Work in keeping the Forumers updated (I humbly would like to share my 30 years experiences in investing in our local share market after seeing many setbacks and opportunities in the local bourses).
Normally companies that have resolved their problems after a sharp drop in prices will turn around and coupled with the improvement in the economy, their share prices will definitely recover in the medium term and not dip further unless there are unresolved issues or further bad news affecting the companies.
Glad to see Mermaid bouncing back for those who are vested.
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Hi !
I am just back from overseas and I wish to tender my sincere apologies to Bintang.
Bintang - Please keep up your Good Work in keeping the Forumers updated (I humbly would like to share my 30 years experiences in investing in our local share market after seeing many setbacks and opportunities in the local bourses).
Normally companies that have resolved their problems after a sharp drop in prices will turn around and coupled with the improvement in the economy, their share prices will definitely recover in the medium term and not dip further unless there are unresolved issues or further bad news affecting the companies.
Glad to see Mermaid bouncing back for those who are vested.
time to show more mermaid pictures........*drool*
This baby is swimming slowing.............. 0.56 liao.
I'll be more cautious in Jun. prices jumping for no good reason.
It may go up more ahead b4 coming down again. But of course below the 200MA price.
Went up so fast from it's low. Hopefully will drop again soon.
Hi Bintang
Thanks for your info.
Appreciate it.
Cheers!!!
Bintang ( Date: 10-Jun-2010 07:06) Posted:
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Hi happytrading ,
Mermaid is in the downtrend because it has gone below the 200MA , n the weekly RSI is trending below 50 . This is also cofirmed by weekly DIs which have already negatively placed . The downtrend is not good for short term ' long ' position , but it is a great opportunity to accumulate for long term investments when it hits the rock bottom .
Bintang .
happytrading ( Date: 09-Jun-2010 22:41) Posted:
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Hi Bintang
Can share how and why that Mermaid is on a downtrend.
I am very keen on this counter
Thanks! |
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Hi susan66 ,
Thank you for your support too . I m still learning n like to share what I have learnt with the forumers here .
Bintang .
susan66 ( Date: 10-Jun-2010 00:17) Posted:
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Hi Bintang,
Me too support you all the way! Your prediction on Mermaid is indeed very accurate, I've witnessed these few weeks although I did not choose this counter, missed. Even if your predictions are not that accurate, I think we all still thank you for analyzing for us, needs some effort, courage & confidence to do that. I have benefitted from your postings especially on Hong Leong Asia, if not for your great knowledge on gaps, I would have lost a bomb now. Quickly switch direction and "saved" my capital, thanks! 
Your advice came in just in the nick of time, we really need that because when we are in the trade, we may not think rationally. As my teacher says, we need to ask someone who are not in the trade, their advice will be more objective. When we do a trade wrongly, we normally will give ourselves excuses eventhough we feel it's wrong. So keep on going, we need you here. 
thulasiappan ( Date: 09-Jun-2010 20:46) Posted:
Hi Zenpal, You are a newbie to this forum. You may not know who is Bintang. Why don't you check through his earlier posts and judge yourself whether he is misleading or helping others. For an example just go to Hong Leong Asia topic and read through Bintang's posts on May 27th and 28th, then you will understand his contribution to this forum. He is one of the respectable forumer here. Many benefited because of his
earlier warning. Hope you will understand.
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