Benalec Holding Moving up to RM 0.895/0.950/1.120.

My Trade Plan
I bound it at when it touch RM 0.860/0.865 the short term down trend pivot point. Once this points been tested it is indication the correction is ended, price advance is just around the corner
My Entry : RM 0.860/0.865
I will collect more if the prices drop near RM 0.820/0/805
MY Stop loss < RM 0.780.
My Profit Target is RM 0.895/0.950/1.120

Technical Justification why I bought this stock

1.) Down trend Tend line was broken and it is 1st indication bear is weaken and bull is taken over.

2.) Hidden Bullish divergent formation showed and stochastic is crossing. it is 2nd indication of trend continuous up.
3.) Med and Short term down trend pivot been tested, it is one of the important signature for Elliot wave trader to identify correction or down trend is ended.

4.) Elliot wave 4 correction was ended with yesterday spike up and test the Wave b correction point, it confirm double ZZ will not come and high probability wave 5 uptrend is started.

All the above indication is bullish signature on this stock for ours learning, feel free to ask question through our telegram group.

---End of Report---

Enjoy learning and growth together:

Wise word I learn This week is "TA cannot make u rich/success in trading..Trading plan and Discipline will.."

Trading Challenge

Many people committed to buy stock is very easy, when come to profit taking and cut loss is one of the most difficult part in trading world, talking about profit taking is dealing with greed and stop loss is dealing with fear, cutting loss is a must in trading world because it stopping my capital continue to loss, in order to stay alive in trading world... it is a must !!! it is not an option, else I suggest you get out of the trading and you are not suitable.

I wanted to used simple example to share on the cut loss ... you bought an egg and prepare to  used it for fry rice, some how you notice/suspect the eggs you pick was/may turn bad.... the question now is shall out throw/scrap the bad one and pick another .... or nevermind bet or hope the suspicious "bad" egg will be good and risk the good rice which is ready to cook ? you make the call... I am believed in order to win I got to know how to prevent I am loss in the market... if I notice I am wrong... I got to admit and cut the loss and make a next move.

As a reminder for myself
I am always remind myself If the trend is go again me and violated my SL limit, I will cut loss base on the risk preference.
Stop Loss is painful process because I making loss, but it is necessary to take it, it is very important because it protect my capital to ensure I am stay in the market.

DISCLAIMER:

Stock analysis and comments presented on klseelwavetrading.blogspot.com are solely for education purpose only. They do not represent the opinions of klseelwavetrading.blogspot.com on whether to buy, sell or hold shares of a particular stock.

Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.