Tuesday, June 28, 2011

Stock Watch

UOADev : Back to 2.23-2.25 level. Now, there are MANY stocks could not be analysed by using TA(if insisted, then one may called it tak-akal). One of those are newly listed IPO-stocks. Note that there are insufficient data to plot MACD or even the RSI(14). With new lows at the moment, we could not know the floor. So, as traders, we should not be buying into this one. But, in the view of investors(with longer time frame), 2.20 is a good discount from its IPO 2.60 level and it is fundamentally good stock to hold. So, buy and hold applied here. Period.

MAS : The above is a weekly chart. Reversal seen when the first green histogram shown. Buying could be at 1.45. Notice the huge selling volumes and it touched 1.34 on 30th May. The next day, the huge buying volumes were back. MACD bullish crossover soon and needs to break current resistance level before testing 1.80 level. At the moment, it is playing on few positive 'news' such as retracements of crude oil price plus recent rumour of privitisation. Sell on news, sell when RSI is high ... sell when it is nearing resistance. Sell when you need the funds.

So, I sold her at 1.62 today, RSI at 63(was at 28 when I grabbed her - in fact, RSI was below 10 when it dived on 30th May!!), resistance at 1.64(touched that today) and good news was out. Now, if we need to grab back, then technically we could wait for it to breach 1.64 resistance and buy during pullback. That is technically speaking.

Fundamentally? Hmm ... MAS just reported losing money, remember? I stalked her for a month plus now(read last month posts la). But, MAS will not collapse la. Similar to Proton. These are GLCs ... they will be bailed out, or some ministers will suggest Perodua or AirAsia for these parasites. Hmm ...

Masteel : Testing 1.28 resistance. Positive indicators. If not trading, buy and hold .... forever? This stock will still play on news and with its high beta(1.67), it is good to be used to trade. Lion's news do help to fuel the steel-related sectors. Good market sentiments could push it beyond 1.33 level. RSI at 55 level, still reasonable. Watch to sell.


No comments: