Stock - BIMB update 18-01-12

Finance Sector

BIMB today closed up 22 cents and break above 2.10 resistance with high volume. Next resistance is pegged at 2.40. Stop loss can move up to 2.02. My previous post (stock - BIMB 04-01-12).

FBM KLCI 18-01-12

My last post about the FBM KLCI is at 09-01-12 last week as i wrote "i will expect the index to retest the immediate resistance 1530". The index go as high as 1526 and retrace from there which is due to more than  half of the European countries credit rating was downgraded by S&P.

S&P Downgrades See Muted Market Response this time. Our index decline 14 points on monday and quickly recover 10.3 points yesterday.

The index is still trading above all moving average and the uptrend is still intact. MACD formed a bearish crossover, RSI is flat and today closed with a doji candlestick indicate that there is some indecisiveness in the market. Therefore, i will expect the index to go sideway according to my analysis and also because of the market will close on next monday and tuesday for celebrating Chinese New Year.

Support can be found at 1500 which is the trend line support coincide with the 20-days and 200-days MA. If it close below 1500 there will be more downside and the next support is at 1480. Resistance is pegged at 1530. If the index able to break above 1530, it will be very likely to retest 1560.

Stock - Latexx update 11-01-12

This post is to update to my previous analysis to Latexx (Stock - Latexx 03-01-12). In my last post, i written that Latexx formed a symmetrical triangle and i have consider the pattern failed. It is more like a cup & handle pattern to me now and the volume today spike up to 6.31 million. Over the last 2 months consolidation this counter is trading with a thin volume means that there is not much seller. If the price can close above 2.12, projection target for this pattern will be at RM 3.09.

Support and resistance are pegged at 1.77 and 2.12. I will trade with a breakout strategy for this counter.

Beautiful pattern......

Dow Jones 11-01-12

2011 is a very high volatility year for Dow Jones, it fluctuated for 2473 points that year due to AAA credit rating downgraded by S&P to AA+ and the sovereign debt crisis in Europe.

What can we expect in 2012 ?

In the above chart i plotted the 2011 high, low and drew a red line which is the average of the high and low. If the price able to trade above the Red Line i will consider bullish or otherwise.

In technical perspective, Dow Jones is now trading in an short term uptrend and price are trading above all moving average. Divergence were spotted in the MACD and RSI indicate that the upward momentum is weakening. Therefore, i will expect a pullback in the near term and the support and resistance is pegged at 12000(50-days & 200-days MA) and 12750.

FBM KLCI 09-01-12

The FBM KLCI ended the 1st week of 2012 down 16.60 points and this pullback is expected as i mentioned before in my previous post (FBM KLCI 03-01-12) to found support between 1490 (20-days MA) - 1502 (200-days MA).

The index kick off the 2nd week of 2012 1st trading day with a bullish white candlestick after it found support at 1502 last week. Trend indicator 20-days MA continue sloping upward and price is trading above all moving average indicated the index is still trading in an uptrend. Stochastic formed a bullish crossover and RSI is also sloping upward indicate the trend is likely to continue. Therefore, i will expect the index to retest the immediate resistance 1530, if it able to break above and refill the previous gap (1539) the next resistance will be at 1560. Immediate support can be found at 1502 (200-days MA) and the next support is pegged at 1490 which is the trend line support coincide with 20-days MA.

I have divided the FBM KLCI chart into 3 part which is 2011 high 1597, 2011 low 1310 and an average 1450 (red line). If the price is able to trading above the Red line i will consider it as bullish or otherwise.

Crude Palm Oil - 08-01-12

FCPO Outlook

 

FCPO is trading in an uptrend and also completed the Elliot Wave 1-5 together with an ABC correction for leg 1 & 2 since October 2011 till December 2011.  Is this the making of the leg 3 ??? Currently the cpo price is trading above 3200 as at last friday closing and also above the 200-days MA. Support can be found between 3100 - 3130 which is the 200-days MA and 20-days MA,  if it break below 3100 the next support will be at 3000. Immediate resistance is pegged at 3270 and the next level is 3350.

Both the RSI and MACD show sign of divergence, if the cpo price trade above 3270 need to be caution cause a pullback is expect before it can go furrther.

In the weekly chart it formed a doji candlestick indicate some indecisiveness, however there is still no sign of reversal. A higher low were spotted in the chart and I'm expecting the cpo price to re-test the immediate resistance 3270 and probably break above the resistance in the near term.

In 60min chart, the price is current trading above the ichimuko clouds and RSI is above 50.

Immediate support in the 60min chart can be found at 3176 and resistance is pegged at 3244 and next level 3270.

Trading & Tasting a Glass of Red Wine

 

No matter how is the day doing, whether is a profit day or a losses day there’s always room for a glass of red wine or a couple cups of coffee. 

Be grateful & thankful everyday then the lucrative opportunity will always come my way........

Stock - BIMB 04-01-12

Finance Sector
 

Bimb has break above the long term downtrend line 2 weeks ago and a pullback confirmation were spotted yesterday. The immediate support can be found near the downtrend line (previous resistance potential turn support) coincide with the 20-days MA at 1.90, the next support is at 1.80 near the long term trend line support. The immediate resistance is at 2.10.


Aggressive Strategy - long at 1.90 and put a stop at 1.69 with 1st profit target at 2.10 and the next target 2.40.

Conservative Strategy - long somewhere near long term trend line support (red line) 1.80 and put a stop at 1.69 with 1st profit target at 2.10 and the next target 2.40.

Caveat emptor.

Commodities - Gold 04-01-12

Gold is Trading in a Long term uptrend but short term downtrend and closed at 1604.70 per ounce.
In short term, gold is trading in a downtrend and likely to re-test the long term support trend line around 1495 - 1505. I'm expecting the support trend line to hold and long somewhere between 1495 - 1505 but if the price go below the trend line there will be more downside.

Stock - Latexx 03-01-12

Glove  Counter

Latexx is trading in consolidation since november 2011 and formed a symmetrical triangle pattern and also attracted some volume over the last few trading day. If it can break above the trend line resistance 1.97, my projection target is 2.39. Immediate support and resistance can be found at 1.77 and 2.12. If it go below 1.77 then there will be more downside.

FBM KLCI 03-01-12

The FBM KLCI started the 1st trading day of 2012 with a 17.19 points decline and closed with a black candle after the 7-days winning streak. I posted in my last post that some of my indicator indicated there will be a pullback in the near term and i got the confirmation today. Support can be found at 1490 - 1502.

Technical perspective : Longer term outlook for the FBM KLCI, i will expect the index to go beyond the previous all time high 1597 to 1607 in the second half according to my fibonacci price projection.

FBM KLCI 02-01-12

The FBM KLCI has been trading in very volatile range in 2011 between 1597 and 1310 due to external factor from U.S (long term credit rating downgraded by S&P to AA+) and concerns over the European sovereign debt crisis, the index ended 2011 with a mild 11.82 points gains for the year.

The FBM KLCI has been trading beautifully in an uptrend channel since September 2011. Support and resistance can be found at 1493 and 1537, if the index can break above 1537 there is very high probability to retest 1560. The RSI / Stochastic indicated that the index is overbought in the near term and there is still no sign of reversal yet but need to trade with caution cause there is very likely a pullback in a near term.