Did u see the movie Conspiracy Theories; stars play by Mel Gibson, Julia Robert and Patrick Steward? If u not, this is the synopsis,...Jerry Fletcher is a man who sees conspiracies everywhere. But if you keep doing that long enough, sooner or later you're going to get one right...
Ok, I'm not talking about conspiracy here but more related to a theory. Lets begin....Tonite I scan the potential market for Monday, then suddenly thinking I need to look at the Drbhcom and Proton chart. Now, looking at the volume, something that put my brain on puzzle. To make sure u fully understand my logic, let see the chart..
Chart Orientation
From the chart, there are 2 big gaps during uptrend. Price drop when long black candlestick engulf short white candlestick on top. The next day 16 Jan 2012, price open and closed at the same level (5.18) thus create a small dash (-) on chart. On 17 Jan, a gap add +21 sen to the price and forming support at 5.40. With the very high vol, price up and down between 5.40 - 5.47. The next day and the day after, volume very thin and almost vanish. Support now become very strong and hold for 13 days trading (2 weeks) . What i'm thinking, the one who can hold the price at 5.40 for longer period is institutional buyer; maybe Khazanah, PNB, KWSP or other big2 player. Now the tricky part. Bollinger Band seem squeeze closely and the price now sitting at another support 20ma. 2 supports in a row is a good news for me.
Indicators
I put a bigger chart to show u the Bollinger Band squeezeee. From acc/dist indicator tell us distribution phase now gone. From highest peak to flat level, now accumulation phase may start soon. U know when accumulation in place, price will going up. So, i take u to the news.
News
1. VW to partner Proton for Malaysian hub?
2. New car (new Proton Persona) will come out in 3 months times. This new car using CFE (Charge Fuel Efficiency) technology. Very interesting. Read here.
http://chedet.cc/blog/?p=686#more-686
3. Exora Bold turbocharge test drive
http://chedet.cc/blog/?p=686#more-686
3. Exora Bold turbocharge test drive
4. Obviously DRBHCOM doesn't need a human to become CEO of Proton. A Proton Inspira can do the same job.
New engine 1.6 CFE have performance like 2.0 engine, yet still save money on fuel + u pay less tax for extra power. Exora Bold CFE + CVT is different breed from older Exora CPS.
From para 2 news - chedet blog
Next Forecast
Be patient. When Bolinger Band squeeze, price will jump up or drop down. Best way to do, cool down now and wait for price to break up upper BB. I'm looking for the 3rd gap in the uptrend. I will tell u later. For longer term, u can't denied Proton car will be value for money since having VW as partner. So, good nite & ....
Happy Trading!!!
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