Carepls (0163) Making new high is on going ???

Executive Summary.

I bought in Carepls on Friday (3rd/July) due to falling window gap closed(bullish implication), I did collected some amount around 0.745 during the CI dip 25pts (opportunity to collect), Volume and price spike at noon to test immediate resistance at $0.800, but rejected due to weak sentiment. My personal assessment base on Elliot wave and Basic Technical analysis on CAREPLS, Most likely next move up should kick in very soon and immediate resistance ($0.800) will be remove. and heading to my target @ $ 0.850/0.880.
I anticipate it will face resistance challenge along the path to the target, the resistance line are $0.800(should be remove)/$0.820(fibo profit target), My trade plan is lock partial profit and apply trailing stop along resistance line, Full profit at $0.880. I will collect more if found weakness and correction toward $0.730, I will stop loss if prices close below $0.715.

Technical Justification(Bullish)

1. Four consecutive positive Elliott wave is pointing to up trend, From Primary, intermediate , Minor and Minute wave degree.

Primary Wave target : $1.01

Intermediate Wave $0.880

Minor Wave $ 1.20

Minute Wave $ 0.850

2.  KLSE CI downtrend and this stock go again CI index, Pass data suggested after CI stabilized, this stock most like like will go up strongly, I do observed FKLI reversal signal showed up and immediate support at 1700

2. Keep on building higher High and higher low, it is very significant evident uptrend is on going
3. Uptrend Line angle uplifting, it is strong justification more upswing to try next resistance and will be broken.
4. Gap down build up on 29th/Jun been filled on Friday, it indicate next swing up is on making now

Environment Scan (who is riding/Pick this stock)

1. Fred Tam (Malaysia Pioneer Technical Analysis)

2. Dr Nazri Khan(Head of Retain Research AFFIN Investment Bank)

3. Matrixcool ( Super Trader)

4. Chartian.( Famous online trainer)

5. Logic Trading Analysis ( Famous Rabbit scanner developer)

5. Jason Wong ( KLSE TA blogger).

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.