Executive Summary.
Price with volume breakout on 27th of Oct '15 which was an indication of buying interest increased, but profit taking was take place on following day, it was enable correction kick in and most likely ended on 11/Nov/15. New uptrend(wave 3/3/5/3/3) were developed and start on 12/Nov/15, which is break away from triangle formation, I am anticipate likely it should test strong resistance at $0.550, break above it will bring price to $0.570/$0.600/$0.650 and possible of $0.780. Immediate support is at $0.475/$0.445. I will take the loss if prices close below $0.475 because it is 1st indication of weakness. Prices close below $0.445 need reassessment on the wave count.
Technical Justification
Elliot wave
Wave 3/3/5/3/3 is overall wave structure, the mail wave degree is Wave 5/3/3 which is showed at the technical chat below and the target for the wave structure is ($0.500/$0.600)/ ($0.780/$0.570)/ $0.650.
Let unfold the smaller wave degree wave 3/3/5/3/3, it is wave 3 of 3 in the wave 5 internal wave structure .
Chart Pattern
Triangle formation breakout just happen and it should heading to the $0.610
I did Wave count on Escream March this year pls check the link at below
http://klse.i3investor.com/blogs/KLSETA/72970.jsp
KLSE Technical Analysis Stock Forum
Jason has launched KLSE Technical Analysis on Telegram Channel as an avenue to disseminate stock & financial markets news; Technical analysis and give members real time update on my trade plan. KLSE Technical Analysis on Telegram Channel will also ease my burden from multiple postings to numerous chatting groups on Telegram, All the groups will remain & continue to be chatting groups as they are now.
To JOIN you need to install telegram either on your mobile phone or desktop.
Aniways Messenger can’t access Telegram Channel. Click the link below to join.
Click the link below to join the KLSE Technical Analysis on Telegram Channel
https://telegram.me/KLSETA
DISCLAIMER:
Price with volume breakout on 27th of Oct '15 which was an indication of buying interest increased, but profit taking was take place on following day, it was enable correction kick in and most likely ended on 11/Nov/15. New uptrend(wave 3/3/5/3/3) were developed and start on 12/Nov/15, which is break away from triangle formation, I am anticipate likely it should test strong resistance at $0.550, break above it will bring price to $0.570/$0.600/$0.650 and possible of $0.780. Immediate support is at $0.475/$0.445. I will take the loss if prices close below $0.475 because it is 1st indication of weakness. Prices close below $0.445 need reassessment on the wave count.
Technical Justification
Elliot wave
Wave 3/3/5/3/3 is overall wave structure, the mail wave degree is Wave 5/3/3 which is showed at the technical chat below and the target for the wave structure is ($0.500/$0.600)/ ($0.780/$0.570)/ $0.650.
Let unfold the smaller wave degree wave 3/3/5/3/3, it is wave 3 of 3 in the wave 5 internal wave structure .
Chart Pattern
Triangle formation breakout just happen and it should heading to the $0.610
I did Wave count on Escream March this year pls check the link at below
http://klse.i3investor.com/blogs/KLSETA/72970.jsp
KLSE Technical Analysis Stock Forum
Jason has launched KLSE Technical Analysis on Telegram Channel as an avenue to disseminate stock & financial markets news; Technical analysis and give members real time update on my trade plan. KLSE Technical Analysis on Telegram Channel will also ease my burden from multiple postings to numerous chatting groups on Telegram, All the groups will remain & continue to be chatting groups as they are now.
To JOIN you need to install telegram either on your mobile phone or desktop.
Aniways Messenger can’t access Telegram Channel. Click the link below to join.
Click the link below to join the KLSE Technical Analysis on Telegram Channel
https://telegram.me/KLSETA
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.
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