*Official* Genting SP

Joined
Apr 10, 2016
Messages
2,442
Reaction score
1
:s13: i was late to party bought at $1 i think was yesterday and sold 1.03 today

Now went in again 0.99 looks like good support but if it doesn;t hold we might see down side sia.. hope it push through $1 again. :D

What does your chart tell you bro :D

Weekly chart, rounding bottom, with volume confirmation, now buy and wait for $1.04 breakout. Might be consolidating during this period. Don't panic.

I later draw one proper one. But this one show illustrate the idea of a rounding bottom.

b2aiL6P.png
 
Last edited:

thegodfather

Senior Member
Joined
Apr 3, 2007
Messages
1,970
Reaction score
55
Weekly chart, rounding bottom, with volume confirmation, now buy and wait for $1.04 breakout. Might be consolidating during this period. Don't panic.

yesh i also think consolidating. i small position 10lots only :D

so sad previous i felt resistance was at 1.05 queued at 1.045 but this morning i saw losing steam so dump at 1.03.

Today quite a good trading day. YSJ broke 0.86, sold 0.875, Genting SP sold 1.03 Tempted to sell starhub but shall wait for it break 3.20 :p

Are have having a position on Noble too?
 
Joined
Apr 10, 2016
Messages
2,442
Reaction score
1
yesh i also think consolidating. i small position 10lots only :D

so sad previous i felt resistance was at 1.05 queued at 1.045 but this morning i saw losing steam so dump at 1.03.

Today quite a good trading day. YSJ broke 0.86, sold 0.875, Genting SP sold 1.03 Tempted to sell starhub but shall wait for it break 3.20 :p

Are have having a position on Noble too?

Yeap have a position in noble too.
 

thegodfather

Senior Member
Joined
Apr 3, 2007
Messages
1,970
Reaction score
55
Yeap have a position in noble too.

:s13:noble sian. made a mistake should not re-enter. As my avg is high at 0.167. It is taking forever to break 0.170

Noble as long 0.16 holds i still believe it can push for 0.17 then 0.18

PS: i am on contra for this :s22:
 
Joined
Apr 10, 2016
Messages
2,442
Reaction score
1
:s13:noble sian. made a mistake should not re-enter. As my avg is high at 0.167. It is taking forever to break 0.170

Noble as long 0.16 holds i still believe it can push for 0.17 then 0.18

PS: i am on contra for this :s22:

later t+3 no choice sell, then next day hit tp, will be damn sian one. hahah

Bro, I used to contra, now totally stop contra for 1 simple reason.

even you can predict price but you cannot predict time taken to hit your TP.
 

thegodfather

Senior Member
Joined
Apr 3, 2007
Messages
1,970
Reaction score
55
later t+3 no choice sell, then next day hit tp, will be damn sian one. hahah

Bro, I used to contra, now totally stop contra for 1 simple reason.

even you can predict price but you cannot predict time taken to hit your TP.

YES you are right. on and off. it depends... for swing trades its really really hard to contra. machiam need all the stars to be aligned. Thats why for contra i just sell when i make profit.

My broker offers me T+5 but even so i know what you meant by last day force to sell and next day up while you cut and lose $$ :(
 
Joined
Apr 10, 2016
Messages
2,442
Reaction score
1
Weekly Chart:

download%2B%25281%2529.png


- Reversal from long term down trend as we can observe that there is a rounding bottom forming awaiting breakout.

- Breakout? Bullish confirmation comes when the pattern breaks above $1.04 that marked the beginning of the decline at the start of the pattern.

- Ideal pattern? High at the beginning of the decline, low at the end of the decline and rising during the advance. From the weekly chart we can see that there is an increase in volume on the advance and most likely during the breakout as shown in the chart.

Daily Chart:

Genting%2BSing%2B1st%2BWave%2BFlag%2BPennant.png


-On 18 November 2016, price broke out due to a bullish pennant pattern that had formed that led to a surge of price to $0.99. Pattern is supported with decline of volume.

download%2B%25282%2529.png


-On 7 December 2016, price broken out again due to another pennant pattern that had formed and led to a surge of price and came down as it hit resistance at $1.04, theoretically one can expect the price to hit $1.09 as price objective can be calculated by adding the length of flag pole to the breakout point.

Conclusion:

-Bullish Bias.
 

Sinkie

Greater Supremacy Member
Joined
Jan 20, 2009
Messages
86,040
Reaction score
20
Weekly Chart:

download%2B%25281%2529.png


- Reversal from long term down trend as we can observe that there is a rounding bottom forming awaiting breakout.

- Breakout? Bullish confirmation comes when the pattern breaks above $1.04 that marked the beginning of the decline at the start of the pattern.

- Ideal pattern? High at the beginning of the decline, low at the end of the decline and rising during the advance. From the weekly chart we can see that there is an increase in volume on the advance and most likely during the breakout as shown in the chart.

Daily Chart:

Genting%2BSing%2B1st%2BWave%2BFlag%2BPennant.png


-On 18 November 2016, price broke out due to a bullish pennant pattern that had formed that led to a surge of price to $0.99. Pattern is supported with decline of volume.

download%2B%25282%2529.png


-On 7 December 2016, price broken out again due to another pennant pattern that had formed and led to a surge of price and came down as it hit resistance at $1.04, theoretically one can expect the price to hit $1.09 as price objective can be calculated by adding the length of flag pole to the breakout point.

Conclusion:

-Bullish Bias.

Shorting at open :D

Pls prepare to take profit first
 

strangerjun

Greater Supremacy Member
Joined
Mar 25, 2008
Messages
96,255
Reaction score
5
Trade counter trend ah? Gap down sia!

Daily chart become cup and handle?

:s12::s12:
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ Forums. Forum members and moderators are responsible for their own posts. Please refer to our Community Guidelines and Standards and Terms and Conditions for more information.
Top