Wednesday, October 14, 2009

20091014 1833 Dow Jones Daily Chart Study.

The Dow ended 14.74 points lower to closed at 9871.06 forming a black long tail doji bar. Closing above mid Bollinger Band = Market still bullish. Bollinger Band width continue to widen = Still room for market to go higher. MACD Histrogram edged higher at slower pace = buyer with the battle of the day by a small different. The long lower tail doji shows that buyer come in to support the market after a sell down. Overall, market still bullish but should price closed below the low of the doji bar, this will serve as an alert to buyer to take caution. 

20091014 1816 FCPO EOD Daily Chart Study. Last minutes sell down.

FCPO market climbed marginally higher forming a shooting star black candle to closed at 2160, up only 3 points with lower volume traded compare to yesterday. Last 15 minutes selling push the market down from the high of 2196 mainly because market are still unsure and awaits for tomorrow's export figure data to minimise exposure in the market. At closed FCPO still trading above mid Bollinger Band = Bullish biased market. With Bollinger Band width narrowed marginally telling us that market may still trade side way range bound. MACD histrogram rise for the 4th consecutive day indicate that there are still buying activities in the market. 

When to Buy : Buy on dip or at support level with cut loss below support level.
When to Sell : Cannot initiate short position unless market break below mid Bollinger Band.

20091014 1728 FKLI EOD Daily Chart Study. Super Bull !

Mr. Bull toke FKLI to reach another new high at 1253 and close 17 points higher to closed at 1251.5 in tandem with all regional market. 15 points range market ! At last look Dow Jones futures market also up 89 points at 9898. Hong Kong Hang Seng futures also closed at premium of 42 point compare to its cash market. Europe market also responded positively to the upward movement of most of the regional market except the Nikkei 225. Without having to elaborate more, all indicators will definitely shows bullish or buy signals. I think the crucial point here is to find an exit strategy to get off the bus instead of getting over excited with it. Overview : Bullish still but also overbought, market might pull back anytime. 

When to buy : Better not chasing it, buy on dip with quick profit and stop loss.

When to sell : No short position. Just take profit.

20091014 1505 Soy oil futures still traded firmer.

At last look soy oil futures still traded firmly holding at 36.27 level.

20091014 1457 Maxis Listing Fact You Need To Know.

MAXIS Listing.

  • The listing involve only Maxis's Malaysia operation and assets representing 30%. 
  • A very large scale listing that is going to sucks substantial amount of money(billions) from the market.
  • Most of the fund raised from IPO will be channel to settle its current debts.
  • Still the number one leading and dominating mobile operator in Malaysia in terms of market share, prepaid or postpaid subscriber, revenue and after tax profit.
  • Still the number one leading and dominating mobile operator in Malaysia in terms of market share, prepaid or postpaid subscriber, revenue and after tax profit.
  • Strong and solid management team. 
  • Strong Cash Flow with high divided payout practice by management. 
  • 4th most valuable brand in Malaysia.
  • The only official IPhone distributor in Malaysia. 
  • Competition war to be sustain with other mobile operators to gain market share.
  • First to launched new technology like 3G, Blackberry and Mobile Broadband show that they a leader in introducing new services. 
  • You are going to be business partner with Ananda Krishnan if you manage to subscribe the IPO.
  • Bla bla bla .......................
Hey..... stop. We already knew that !!!
No matter how attractive its sound. At the end of the day, its the PRICE that's matter. So no matter how exciting, we will all have to wait for the official IPO price to released !
The the ONLY FACT that we all need to know. Sorry to make you disappoint....AGAIN.

20091014 1358 FKLI Hourly Chart Study. Go The Distance.

FKLI reached another new high at 1248.5 in the morning session with supportive volume to closed 13.5 points higher at 1247.5. Trading along side with the upper Bollinger Band shows that the market is trading strong indeed. Bollinger Band width and MACD Histrogram also react accrodingly by expanding and rising up giving a supporting evidense to the market to edge up higher. However, hourly chart volume bar seems slowing down sending an alerting message to becareful. Party time for those who still holding their FKLI long position and please be reminded to trail your stop higher. 

20091014 1245 FCPO Hourly Chart Study. Small Range Small Volume.

FCPO traded 17 points higher to close at 2174 in the morning session with only 12 points range and lower volume changed hand. Hourly chart wise, FCPO still stay above mid Bollinger Band  = Bullish biased. On the other hand, Bollinger Band width continue to narrowed suggesting a side way range bound market. MACD Histrogram also getting lower indicates that buyer are not aggresively buying through out the morning session. Overall, market is bullish biased but still not ready to surge upward.   

20091014 1150 LCTH Weekly Chart. Triangle Forming.

Weekly chart wise, LCTH still supported by the triangle ascending line and trying to reach the upper side triangle descending line. However MACD Histrogram and volume traded showing another story of weakness background. Nevertheless should price break above or below the triangle will triggered the buy or sell signal for LCTH. Take noticed.

20091014 1028 Soy Oil Futures Still Holding Up Nicely.

At last looked, soy oil is still traded and holding strongly at 36.16 with all indicators still giving a bullish biased signal. At the same time, crude oil futures also advancing.

20091014 1020 TA Weekly Chart. Aiming 61.8% Fibonacci Target.

TA weekly chart still holding strong with the potential of hitting 61.8% Fibonacci retracements level at 1.60 after break above the 50% Fibonacci at 1.40 that turned to act as support level now.

20091014 0935 PLUS Highway Weekly Chart Study. Very Interesting !

Looking at the weekly chart of PLUS Highway and noticed a very interesting development taking place right now. It is either going to form a double bottom break up or is going to form a triple top. With this, I would say the 3.45 to 3.50 resistant level is very crucial simply because should price break above, it would signal a buy call and on the other way should the resistant failed to break, then it will have a high possibility of diving down to the 2.50 level.