What a busy week for me. I was practically not in the market as I was away in Europe for a job interview. So no feelings for any of the blood bath in the market. Anyway, if the market didn’t come down, who will be the greater fool to buy it at a higher price from us?
Farmbes: Didn’t buy because it is not within my buying range. A double top at RM1.02 region? Since the weekly candle is no good, I think that a good entry will be at 0.85-0.90 (if it do continue upwards).
Timecom: Did not cut lost yet. Weekly chart shows that consolidation may be over.
MBFCorp: Still holding. Hard to play penny shares as the trading range is too narrow.
RHB: Back to square one. No signals yet.
Carotech: Daily reversal candle with volume. RM0.62 has been holding well for 3 days. Consolidation over? Weekly chart no more overbought.
Sunrise: Looks like rebound is over. Still in downtrend. Going to exit this counter soon.
4 comments:
I strongly believe the market is going to crash. What do you think?
If you look at the monthly chart, the long term support is at 900 region. However, the momentum reading is getting less and less and should go into negative territory soon. Thus, I think that the chances of going negative is higher than positive. If 900 is broken, then most probably we will have a long way down.
My CI chart is a weighted line moving average tool formulated by myself. It moves faster then all commercial ones. I can see the right shoulder was completed a week ago. My estimate is 780 target. Far-fetch you think?
By the way, your write-ups are very honest.
It's about time for TIME to come back, I hope they will get the 3G license too later next month, together with MITV. That will give us a push !! Why not Digi ? They are drawing their fund away, man !
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