TENSION IN KOREA BORDER MAY BE ESCALATE & MAY BE NOT

Hi All,

The US aircraft carrier have been sail to the conflict area to show deterrence to North Korea.  So tension may be cool down this week.  Both countries in full alert for another possible attack and we hope this will not ignite the nuclear war. 

But tonite, DJIA up 120++ pt, consumer spending up and the some optimistic on the job front.  Focus tomorrow for BOUSTEAD, KUCHAI, DIALOG & IGB.

BOUSTEAD

RSI kiss of life, acc/dist up, stochastic oversold, MACD green and above 0,  momentum surge, candlestick  bullish engulfing & rebound from 50 ma support.  Target price 6.00.  Stop loss 5.14.

KUCHAI

As I mention before, candlestick white, divergence acc/dist, MACD green, stochastic up, RSI good.

Watch here.

DIALOG

Big white candlestick confirming the bullish,  indicator equivalent to the BOUSTEAD. 

IGB

Big bullish engulfing candlestick, stochastic oversold, momentum up, RSI up, volume good.

I think Petronas 3 billion project will be coming soon when i look at Oil and Gas counters.  It is a matter of time.  So be patient. 

I scan for 30% volume increase and i get 58 counters.  When run through 1 by 1 counters, almost 95% have either doji (which ever doji), hammer (white or black), white candlestick at or near the support. What is the meaning?  I don't know but i assume bear lost steam and bull will ride tomorrow.  So, what i do, I check the KLCI chart.  Look here.

Class A Divergence (read Alexander Elder book) is when indicators (or oscillators) going up but the price still down.  The chart above tell the price still down but the acc/dist start moving up.  My expectation tomorrow, KLCI will going up and many will show gap up.  May be super bull will be coming if tension cool down and Irish problem has been contained.   So u know what to do.  Good luck.

Note:  Please treated my blog as a guideline only.  It is your decision to buy or sell, not mine since u must be responsible with your capital (money) and whatever decision u will take. 

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