Penta forming Extended Wave 5 and heading to $0.900/$0.955

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Executive summary 

Penta; Correction wave 2 ended and uptrend wave 3 kick in on today, strong technical evident showed on today which is candle stick bullish reversal pattern formation( Piercing line) formed on today and MACD histogram bullish convergent established. Target for the wave 3 will be $0.900/$0.955 & extended wave 5 target is $0.965. Along the path to target, we should face resistance at $0.775(I anticipate it should be break)/$0.815/$0.900.

My trade plan

I will stop loss if price close below $0.640,
I will collect more on weakness along the uptrend trend line. give today price is $0.665.
I will lock partial profit along the resistance line

Technical Justification 

•  Penta was break away form contracting triangle on 19th/Jun, this action is a strong evident to show wave 5 uptrend was kick start and heading to $0.870. As per my anticipation, profit taking take place at $0.775(mention on my blog), this action gave a pause to the uptrend and stimulate correction happen down to $0.680 on 29th/Jun, the correction was develop another wave 3, which change wave 5 to extended wave 5 uptrend

• Today candle gap down close above 50% of yesterday bear candle, which was form a reversal pattern(Piercing line), the was offer an good deal to ride on early wave 3 uptrend.

 

 

• Stock individual characteristic study call buy, pass data shown 80% of success rate.

• Stock keep on building higher high and higher low, it is very strong evident it is on bullish trend.

Fundamental Justification.

Fundamental’s Justification on bullish.

1.       Environment scan who are riding this stock

a.       Matrix cool( supper trader)

b.      Fred Tam ( Malaysia TA pioneer) fredtam6@gmail.com

c.       Ooi Teik bee( FA guru) otbstocks88@gmail.com 

d.      Cold eye ( most famous investor in Malaysia)

e.      TCB stock watch  http://tcb-sifs.blogspot.com/?m=1

f.        Elliot wave Rider Jason Wong.

2.       Critical Fundamental Analysis By TB Ooi (Pls Subscribe his service as he did pretty good job on FA, Pls email him  otbstocks88@gmail.com  ) 

Target Price is at 0.940.

3.       Media talk http://biz.sinchew.com.my/node/115082?tid=8#ixzz3ZoPHTOBW

Technical Bread : Piercing line

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.

Asian shares hit by Greece fears

Asian shares have tumbled and the euro has slid after Greece failed to strike a deal with its creditors at the weekend and imposed capital controls.
The euro fell below $1.10 at one point, from around $1.1165 on Friday.
In Japan, the Nikkei 225 share index closed down 2.88% at 20,109.95, while shares in China also fell.
In a day of volatile trade, the Shanghai Composite was down 2.5% at 4,091.04 by mid-afternoon, having fallen by 7% at one point.
In Hong Kong, the Hang Seng index was down 2.16% at 26,092.65.
China's shares fell despite a surprise rate cut by the central bank on Saturday.
In Australia, the benchmark S&P/ASX 200 closed down 2.23% at 5,422.50, while in South Korea, the benchmark Kospi ended 1.4% lower at 2,060.49 - its biggest daily percentage fall since late May.
Greece risks default and moving closer to a possible exit from the 19-member eurozone.
The country is due to make a €1.6bn payment to the IMF on Tuesday - the same day that its current bailout expires.
Last week, talks between Greece and the eurozone countries over bailout terms ended without an agreement, and Prime Minister Alexis Tsipras then called for a referendum on the issue to be held on 5 July.
At the weekend, the Greek government confirmed that banks would be closed all week, after a decision by the European Central Bank not to extend emergency funding.
Economist Daniel Martin from Capital Economics told the BBC the current situation was "the closest Greece had come to exiting the eurozone" and that it was likely to be a bad week for Asian markets.
Greek banks are expected to stay shut until 7 July, two days after Greece's planned referendum on the terms it had been offered by international creditors for receiving fresh bailout money.

China rate cut

Investors will be watching shares closely in China this week after the rate cut
On Saturday, China's central bank cut its one-year lending rate by 25 basis points to 4.85%. It is the bank's fourth cut since November. It also lowered the amount of cash that some banks must hold as reserves by 50 basis points.
Analysts said the moves highlighted Beijing's concerns that money was not flowing to some of the most-needed sectors in the economy. Others said the bank had reacted to Friday's share plunge, which saw the Shanghai Composite close down more than 7%.
Chinese investment holding company, Legend Holdings, made its trading debut in Hong Kong after raising more than $1.9bn in its initial share offering. The firm has a wide range of interests including in IT, agriculture and real estate, and is the parent company of Lenovo.

Japan numbers

In Japan, official figures showed retail sales grew by 1.7% in May from a month earlier - the fastest rate of growth since September last year.
However, other figures showed Japan's industrial production fell by 4% in May from a year earlier.
"The plunge in industrial production in May points to a contraction in GDP (gross domestic product) this quarter," said economist Marcel Thieliant from Capital Economics.
"[This] corroborates our view that the Bank of Japan will have to step up the pace of easing before too long."

Source : BBC News - ‎Monday‎, ‎June‎ ‎29‎, ‎2015

Saudee Group BHD is ready to break $0.570 and go to $0.600/$0.650/$0.730

Executive’s Summary

Today volume kick in with long candle and is price moving up, this is a very positive bullish signal. The resistance $0.545 was removed and price without look back!!! It is a strong evident to show aggressiveness of bull to remove immediate resistance on $ 0.570.

I am anticipate immediate resistance will be remove easily by trader, which give way to stock price moving to the target of $0.730( Base on Elliot wave 3 target)

Along the journey we may face resistance at $ 0.600/0.650, Once $0.650 resistance successfully remove, this stock is in uncharted territory and carry extremely bullish implication, the target is $0.730/$0.835.

My trade plan

Early Stop loss < $0.540
Late Stop loss  < $0.515
Partial Profit taking take place at:
1^st: $0.600
2^nd $0.650
Full profit taking take place at:
3^rd #0.730
I will apply trailing Stop after partial target hit.

 

Technical Justification (Bullish).

1. Elliot Wave count was suggested three consecutive Impulse wave degree were showed uptrend, there wave 5/3/3.  Long term wave 5 target = $0.740, Med Term wave 3 target = $ 0.730 and short term target is $0.725.

 

2. The recent retracement is less than 61.8% of fibo level, when the ABC/Wave 123 breakout trigger's  momentum to go reach min 100% extension or 161.8%.

3. MACD cross over below 0 and the Histogram showed bullish convergent.

4.DNA CALL BUY

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.
 

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Penta(7160) Break out from Contracting triangle and heading to 0.870 !!!

Executive’s Summary

Penta was breakaway from contracting triangle and heading to $0.870 and along the path, it should face next at resistance $0.775/ 0.815, Very high possibility smart money will use push through supply method (gap Up) to breach immediate resistance at $0.745, this action carry very strong evident that the price is being mark up to the target of 0.870 or higher.  

Jason’s Trade Plan

Early Stop loss < $0.700

Late Stop loss < $ 0.620

Partial Profit taking take place at.

1^st: $0.775
2^nd $0.815
3^rd #0.870
I will apply trailing Stop after target hit.

Technical Justification on Bullish

1.       Correction Wave 4 was ended on 6/16/2015, which is completed Wave a,b,c,d,e contracting triangle.

 

2.       Impulse wave 5  was kick in on 6/19/2015 and breakaway from contracting triangle , at the same time smaller impulse wave 3 develop on the action , it was carry very bullish implication.

 

3.    MACD golden cross over, Strong evident showed it is profitable is we just used this indicator and data show 70% success rate.

 

4.       Substantial Volume to support big candle breakout, very bullish implication.

5.       KLSE CI loss in tremendous point but Penta holding strong in correction wave. Once KLSE CI pick up, pass history data suggested most likely this stock will have rally up.

Fundamental’s Justification on bullish.

1.       Environment scan who are riding this stock

a.       Matrix cool( supper trader)

b.      Fred Tam ( Malaysia TA pioneer) fredtam6@gmail.com

c.       Ooi Teik bee( FA guru) otbstocks88@gmail.com 

d.      Cold eye ( most famous investor in Malaysia)

e.      TCB stock watch  http://tcb-sifs.blogspot.com/?m=1

f.        Elliot wave Rider Jason Wong.

2.       Critical Fundamental Analysis By TB Ooi (Pls Subscribe his service as he did pretty good job on FA, Pls email him  otbstocks88@gmail.com  )

 

3.       Media talk http://biz.sinchew.com.my/node/115082?tid=8#ixzz3ZoPHTOBW

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.

 

 

 

 

Opensys (M) Bhd good time to collect ???

Opensys (M) Bhd

25th may gap up with substantial volume, Prices was close near the resistance zone $0.405/0.415, following day the mention resistance zone was tested but rejected and given the fact KLSI CI was in bearish, but this counter retest the resistance zone and it successfully removed the roadblock and heading last year high which is $0.485.
Due to overall KLSE index weak, the upward momentum was slow down and formed spinning top at $0.460, this was initiate correction started 5 days ago and heading to the support Zone (Previous Resistance zone) at $0.405/0.415. Prices action showed the support level ( $0.405/0.415) was respected, it is indicate good opportunity to collect(For me to buy).
Elliot wave reading is on Wave 3 uptrend and target is moving toward $0.490/$0.560. Price moving up and along the path should face resistance at $0.470/$0.530.
In case of the trend again me I will stop loss if the prices close below $0.370.

Learning : Flag

Flats are very common forms of corrective patterns, which generally show a sideways direction. Waves A and B of the Flat are both corrective patterns. Wave C on the contrary is an impulsive pattern. Normally wave C will not go beyond
the end of wave A..

IT is not a buy, sell or hold call. it is just for sharing and education purpose only, seek professional advised for any action if you keen to do it.