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may have a small dip before climbing again. however as mentioned below TA may be overuled abit in current situation..
immediate resistance is 1.89 however this counter is likely candidate to push towards $2 or more in short term.. however for 10% potential return, the risk may be still abit high..
what shplayer discribe abt the two support at 1.7 and 1.79 can be call a mini double bottom. it is a bullish sign plus the fact that gongwei bought at 1.81 makes it even more bullish. when gongwei enter this counter with huge volume done,, TA impact will be lesser and more swayed towards more of FA. thus the current situation is more favourable on logic and FA. TA will take less standing. however, we can more or less conclude that this counter is bullish to the fact a double bottom is formed and Gongwei entered at 1.81. I believe the Chart of this counter is going to change fundementally. However hope the current market dun change the mood else this counter can help many make $.
shplayer,
your FA is good and now TA also improving very fast.Keep it up and share.Singaporegal must be very happy.
shpplayer :)...
Like I said, my brand of TA is rather primitively simple, as I only base my reckonings on one factor - the price. Of course to spice up this boring sole "indicator" of market temperament, you can also indulge yourself no end in a whole arsenal of popular indicators and arcane formulae such as the very few you just mentioned. I suppose for those are relentlessly seeking for the market holy grail, no stone should be left unturned in this quest. That's perfectly okay, but personally, I tend to believe (though I am not the believing type) that too many indicators can also make you confused, particularly when they are at odds with one another at the same time. So even with these indicators, it can still be just a punt after all.
As for the Fibonacci stuff, it is a personal fascination for me... as it can be quite a romance just reading and relishing worldly things like "The Golden Mean", etc in the encyclopaedia. :)
PS. Fibonacci TA studies can also be found in Metastock.
Like I said, my brand of TA is rather primitively simple, as I only base my reckonings on one factor - the price. Of course to spice up this boring sole "indicator" of market temperament, you can also indulge yourself no end in a whole arsenal of popular indicators and arcane formulae such as the very few you just mentioned. I suppose for those are relentlessly seeking for the market holy grail, no stone should be left unturned in this quest. That's perfectly okay, but personally, I tend to believe (though I am not the believing type) that too many indicators can also make you confused, particularly when they are at odds with one another at the same time. So even with these indicators, it can still be just a punt after all.
As for the Fibonacci stuff, it is a personal fascination for me... as it can be quite a romance just reading and relishing worldly things like "The Golden Mean", etc in the encyclopaedia. :)
PS. Fibonacci TA studies can also be found in Metastock.
iPunter,
Thanks.
Sorry, I am not familiar with Fabonnaci. But, you said that 'supports appear to be lower and lower'. But, looking at dips from 10 Nov, support is at 1.76. Then another dip on 28 & 29 Nov, support is at 1.77.
From my reading, (pupil of singapore gal), Boll bands are tightening, RSI, Chaikin and Acc/Dist all up trend. Upp, lwr and median Boll Band are 1.873, 1.78 and 1.827. Both upp and lower bands are slightly uptrending. Fri closing price is above median. So, my reading is, if it breaks out of 1.88/1,89 in the next 2-3 trading days, then, as you say, 'Hell may break lose'....
The above is just my novice opinion. :-)
shplayer ... what I meant by Fibonacci supports is the supports appear to be lower and lower in stages, possibly conforming to the Fib. ratio fans.
shplayer only... :) I suppose some money can still be made on this one, but if it doesn't break 1.90, the downtrend I predicted before is probably still valid. But if it surpassed 1.90, then hell may break lose, ie. much "cheonging" may result. This is actually what breakouts are about. :)
Charts look like its uptrending?
Think Fibonacci Fan supports! Very beautiful !!!
My olde TA chart indicated to me few weeks ago that the recent top is 1.88. And barring any buying pushing it way pass above that point, weakness is still menacingly lurking. :)
TA Charts indicate possible uptrend?
if 1.81 will be the support his really he buys at that price..
No matter who buys, if the charts say it will go down, you should listen, OK!!!
No lah... just kidding... actually nothing is certain.. :)
No lah... just kidding... actually nothing is certain.. :)
well even gokongwei buy.. most likely something up.. now, 1.81 is the immediate support liao.
actually not a mistake. Gokongwei increased his stake by 0.43% .(6 million at $1.81 per share).
derekchong,
No problem.........honest mistake.
sorry lah, who is the buyer. Wee CY or Gokongwei?
derekchong,
6mill done at 1.82 lah...healthy vol. Good or bad, TA gurus in a better position to answer. But, I think its good sign.
six million done at $1.81. is it good or bad sign.
i dun really expect this counter to move up alot thus it is possible to invest in other stocks rathe rthan park it here. can buy when the sign of moving is here..