Last Friday, good news from Big Apple city. See below...
U.S. stocks ride economic data to weekly gains
New York (Marketwatch) - U.S. stocks on Friday notched weekly gains that pushed the S&P 500 to its highest close since mid-2008 as economic reports mostly offset concern about rising oil costs.
The Dow Jones Industrial Average /quotes/zigman/627449 DJIA -0.01% fell nearly 2 points to 12,982.95, leaving it 0.3% higher from the week-ago close.
The S&P 500 Index /quotes/zigman/3870025 SPX +0.17% rose 2.28 points, or 0.2%, to 1,365.74, its highest level since June 2008, meaning it notched a new peak for the bull market that started in March 2009. Read more on new bull-market high
Of its 10 industry sectors, technology rose the most and financial companies lagged. For the week, it gained 0.3%
Full story here...
Tonite News
So, u know exactly which stock in play on KLCI this Monday after above news. I watch tech sector closely, especially JCY (i have covered this before), UNISEM (in progress to moving up, need confirmation from tommorrow closing), ENG, NOTION, MTRONIC and so on. Other than JCY, one of the counter which I think will be moving up soon is GTRONIC. Let see the chart..
GTRONIC
Chart Orientation
Price touch lower BB and rebound, forming bullish harami (pregnant woman - long black candle and small white candle in the middle). As standard SOP, entering price 1 point above last closing price. If u see the chart, this is one of the best entering price - meaning cut loss very near (-4 sen) and profit target far and away (+14 sen).
Indicators
From top, 1) dist doesn't drop, but now acc take over
2) momentum up
3) stopchastic at 7%.
4) MACD Histogram green and MACD line above 0.
My View
Bullish harami + touching lower BB + all indicators showing bullish. Cut loss very near is and added advantage. No doubt for me, this counter will going up soon.
Harvest
Chart Orientation
My fren remind me when Harvest (not a tech stock) moving up. Last friday, i have watching Harvest when price at 85 sen. Then, quickly moving up to 1.07 before closing 1.05 just below 20ma resistance added + 25 sen (82 sen to 1.07). Interesting part is with big or long white Marobuzu candlestick and 1 sen to 20ma resistance, not much i can say. Look here...
Remember open gap must be close one day, so i draw the "ungu"colour gap at 1.66-1.80. I suggest this is the target price, break above the gap will find target price at 2.12. Enter price at 1.07, cut loss at 99 sen.
Indicators
From top, 1) same as Gtronic above.
2) momentum flat
3) stochastic at 10%
4) MACD Histogram green and MACD near 0 line.
My View
I think all of u are aware of what Harvest capable do during moving up and down. If i based on stochastic level, i think this counter have a lot of space to play to the top.
IOICORP
Chart Orientation
Indicators
From top, 1) acc up
2) momentum spike
3) stochastic at 28%
4) MACD histogram green and MACD line above 0.
My View
To play save, enter after cross 20ma resistance. Very often, price with volume will break 20ma resistance. What u need is patient and timing it correctly.
Last But Not List
I have seem many suggestion from my fren, from predictors at Trade Signum or others blog which counters that they suggested, the stochastic is 80% or above. If u do this, u will make so & so profit. No doubt u can make profit but why risking your capital for another 15% extra. Why not enter when stochastic below 10%, where u have another 85% room (up) to play and at the same time u can get the maximum profit. Enough for my lecture, with that good nite & ...
Happy Trading!!!
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