Saturday, March 19, 2005

Weekly Review (19 March 2005)

The government funds are supporting the index for Bursa's listing. Well, Bursa really got a good start with lots of 8s. However, the index finally goes down. Trendchaser spotted a H&S formation ( So KLSE index should go down more. Next support will be around 885. The following is my analysis for the counters that I'm holding ->

Ramunia (an uptrend stock, enter: 1.22, stop:1.05, target: 1.40): The candle chart shows a long shadow hammer, going to consolidation? But news of new contract won should push it higher. Hopefully it will break higher next Monday.

Sapcres (uptrend, consolidation, stop: 1.05): The major shareholder is buying back. Thus, support at the current level. The price is getting congested. Seems to be making a triangle formation. It will either breakout of this pattern with both ways. Hopefully up with major shareholder support.

Megan-WA (enter: 0.355, stop 0.345, target: 0.38): I'm not sure why I'm in love with this share. Maybe the share buyback of Megan will limit the downside of this stock. Anyhow, this stock shows good up/down trend. Can make some money out of it.

Talam-WA (downtrend): Win big, lose big. Not much life left. Can I break even with this chap? A local fund is holding some it. Will they come to the rescue? Looking for signs to enter.

Cutting lost is very important in trade. However, I always again and again failed to cut lost. The problem is failing to set proper stop. Now, all my trades have proper stops.

Losing counters: GHLSys, novaMSC, JSPC, Kejora-WA, Hil-WA, Hwgb, Sitatt, Kretam-Wa, Talam, L&G. :((

Potential counters: Mems (downtrend - got out last Friday with a small profit), Kurasia (uptrend)

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