Friday, July 23, 2010

Waterfalls to watch

Notion : Support at 2.70.

3A : Support at 1.76, nice to trade again.

Topglove : Still a wait ... wait for 1st green in the MACD histogram. Wait for the selling volumes to decrease. Wait for the support level as 50MA(blue line) around RM6.45 - 6.50. Wait for RSI going below 30 level, if possible, or the stochastic to go below 20. WAIT ... watch Topglove-ca/cb/cc for warrant players. I shall pick Topglove-cc again.

BJCorp : That is a weekly chart of BerJaya Corp's waterfall. Looking at RM1.00 for support, looking for 1st green histogram. There is a huge increase in the selling-volumes, indication selling pressure is mounting. It closed at RM1.04, inching lower each day.

Waterfalls ... something I m more comfortable trading. With RSI showing oversold and moving to support, I m adding in MACD to be in green + a reversal candle-stick, I will move in largely in one or two of the above. Yes, TopGlove is the best FA stock I will like, so for low-risk taking, move in TopGlove, ok? 3A is uptrending since Kuok moved in. A good counter to trade. I m comfortable to buy at support level but it is NOT oversold. So, this is what I m learning at CN, to trade with trend, buy high and sell higher?? Lastly, one of the most oversold stock in KLSE is Vincent's BJCorp. I dont know about BerJaya Retail's listing as I do not read much. But, this is for a higher risk players ... and I might move in for a punt once it reaches support RM1(must confirm by a reversal candlestick).

I added Notion as someone asked me about it. As always, I have NO comment on stocks as I do not read much, I know nothing much about TA to share. But, I added here as I m writing about waterfalls. I prefer 3A, BJcorp or TopGlove that I m monitoring to move in now. Buy Notion at your own risk, technically it is still downturn and waiting for 2.70 support, wait for reversal. Good luck. (p/s : unless u treat me a nice dinner? hehe)

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