Hi All,
I have to move to other counters since my write up a few days ago just focus on Mudajaya and Harvest. My good fren, Dr Ooi suggest to me 2 counters which are HSL and HAPSENG.
HSL have a BB and about to break upward but HAPSENG still waiting to cross 1.68 this morning. I skip HAPSENG becoz HAPSENG already going up for the last 2 days and today. If can't make it (break 1.68), price will have a pull back. So, I switch to LATEXX
HSL
Above is an example of Bollinger Band squeeze, waiting to break out upside or down side. It just a matter of time this break out will happen. Next chart.
From chart indicators, accumulation flat, momentum flat, stochastic move up and MACD sitting on zero line. From this, i can assume that upside move will be happen next few days. Next chart.
Strong support waiting at 1.29, so 1 point below 1.28 where u should cut loss.
Risk & Reward
Risk : 1.35 - 1.28 = 7 sen
Reward : 1) 1.45 - 1.35 = 10 sen
2) 1.50 - 1.35 = 15 sen.
LATEXX
When SUPERMX have news and charted +42 sen this morning, i look around the rubber gloves counters like HARTA, TOPGLOVE, KOSSAN, ADVENTA, RUBEREX, IRCB but i like LATEXX very much. My emotional attached to it, so let see what LATEXX can do.
Above is yesterday chart. Again, Bollinger Band with No Volume before break out with High Volume. Next - today chart.
Highest price this morning at 2.04. u can see the volume below very high compare to yesterday and the last 2 days. Next chart.
Risk and Reward
If u interested with this counter, u should calculate the risk and reward.
Let say u buy at 1.98 (just after cross upper band),
Risk : 1.98 - 1.82 = 16 sen
Reward : 1) 2.03 - 1.98 = 5 sen
2) 2.07 - 1.98 = 9 sen
3) 2.10 - 1.98 = 12 sen
4) 2.27 - 1.98 = 29 sen
If u think the reward was not so rewarding, choose other counter. Don't do emotional attached to latexx like me.
Have a look into all rubber gloves counters and do research about it. Maybe u can make some money today and the next few days.
Happy Trading!!!
Best prediction!
ReplyDeleteAll rubbber stocks shot up to highest today, what driving them, H1N1?
Hi Ethan,
ReplyDeleteOne of the cause is H1N1 and H5N1. Other factors contributed to rubber gloves counters rally today from the effect of flooding in Thailand recenly, monsoon season in Malaysia, higher US currency against RM Malaysia. TQ.
Hi Ben,
DeleteLatexx had been moving sideways since 11.1. Other gloves counter like supermax, harta and kossan moved much higher compared to latexx. Despite all the promising technical indicators, Should we be selling instead of buying when others are selling? Or is it that current global economies are affecting the stock. Sorry for my naive remark. Still very much a beginner learner. Thanks
Hi Anthony Law,
DeleteIt is difficult to answer your question since i'm only have TA knowledge not FA. But, u must from perspective big rubber gloves counters such as Supermx and Kossan (if i'm not mistake) have a direct access to US market. That mean when USD up, the profit also for this counters also increase. Until such time when traders feel share prices of big2 counters not worth to buy, they will turn to non move yet counters such as Latexx and Adventa. Now the question is for u to decide to be a punter, day trader or short or long term investor. TQ.
Thanks a lot, ben. Appreciate your reply.
ReplyDelete