Stock Watch w44: TEKSENG

TEKSENG is technically forming ascending triangle for 2 months now, the strong resistance level is 0.85. If this level broken with a high volume, more potential upside is coming. The projected profit target is 1.05. Expect price may be resisted at 1.00 level. The downside to this is that day to day volume is diminishing and bearish Stochastic crossover was confirmed on Friday. If breakout fail, stop loss level is 0.76.

KLSE 2014 Oct27-Oct31 w44 Stocks Focus

Good day! This week's stock focus:

                   Return  Entry  Profit Target Stop Loss  Strategy
TEKSENG  23%    0.850   1.05              0.760         Ascending triangle

NIHSIN       36%    0.465   0.635            0.390         Pennant

IFCAMSC   18%    0.540   0.640            0.465         Trend following, breakout from resistance

 

TEKSENG is technically forming ascending triangle since early September, the resistance level is 0.85. If broken, more upside is coming.

 

Nice pennant is forming in NIHSIN, bullish Stochastic crossover on Friday. More upside is coming on next week.

 

Strong resistance 0.50 finally broken for IFCAMSC, time to ride up the trend. A risky strategy, but will work providing next week is a bullish week. 

 

DJIA rebounded stronger than expected for the past week, most probably KLSE will follow suit. Pace will definitely slow down as many bullish stocks are reaching short term resistance where profit taking activities will definitely be kicking in.

KLSE 2014 Oct20-Oct24 Stocks Recap

KLCI enjoyed a good week, rose 25 points to reach 20 day Moving Average of 1818. I would say next week will be a good week as well, as it seems that DJIA is undergoing a better bullish recovery than expected. A note of caution is that the bullish trend will probably be slow in next week as all stocks will meet with MA resistance.

SMRT open at 0.61 on Monday, reaching intra day high of 0.73, realistic profit taking price is 0.705, with a handsome profit of 15.5%!

ELSOFT reached intraday high on 1.53 on Friday. Realistic selling price is 1.50. Profit is 17%!

SCICOM price closed at 1.88 on Friday (3 days low healthy volume consolidation), currently on track to reach profit target of 2.00.

MYEG opened at 3.51 gapped up on Monday, closed at 3.75 on Thursday with a profit of 6.8%.

Congratulations for those who traded SMRT, ELSOFT, and MYEG! While patience is needed for SCICOM.

KLSE 2014 Oct20-Oct24 w43 Stocks Focus

This week's stock focus:

                   Entry     Profit Target Stop Loss  Strategy
SMRT        0.59       0.635             0.51           Trend following
ELSOFT    1.28       1.36               1.10           Trend following

SCICOM    1.82      0.56               1.63           Trend following

MYEG        3.46      3.65               3.10           Trend following

As DJIA started to rebound,  I expect next week will be a rebound week for KLSE. The "fundamentally good" stocks such as SMRT, ELSOFT, SCICOM and MYEG are good bets for short term rebound. Happy trading!

KLSE 2014 Oct13-Oct17 w42 Stocks Focus

This week's stock focus:
                   Entry     Profit Target Stop Loss  Strategy
MBSB        2.63      2.89               2.51            Merger happening between CIMB, RHB Cap and MBSB, TP price is 2.89.
IFCAMSC  0.495   0.56               0.435          Trend following
Since DJIA continue its downward spiral, it is better to hold the buying until Wednesday, it is to observed whether US markets have calm down, for a better probability of these stocks will continue their up trend. Happy trading!

KLSE 2014 Oct7-Oct10 w41 Stocks Focus

This week's stock focus:
                   Entry     Profit Target Stop Loss  Strategy
MCLEAN    0.24      2.26               0.200       Bounce off 20 day Moving Average, challenging new high
DNEX         0.335    0.365             0.310       Bounce off 50 day Moving Average
Most of the counters suffered downtrend for more than 1 month now, so  I decided its time to spot for stocks that will technically bounce of Moving Average and with modest returns. Caution is required trading in next week's market as it is still in consolidation mode

KLSE 2014 Sep29-Oct3 Stocks Recap (1)

SCICOM open at 1.94 on Monday, reaching a high of 2.08, but forming a shooting star at the end. Realistic case is to exit on 2.01, with a modest return of 3.6%

SYCAL open at 0.475, but high selling pressure prevailed, forming dark cloud cover pattern. Any chance of going up failed.

KSSC opened at 0.735 and closed at 0.795. Profit target reached with a 8.1% return.

BJCORP opened 2cents higher than previous Friday's close, the plan is to wait for flag formation on Tuesday or Wednesday. So no trade for BJCORP.

Congratulations for those who traded SCICOM and KSSC. Expect next week to be another volatile week in KLSE. Please trade with caution

Market Corrections is Happening

KLCI and all indices across the board (FBMACE, FBM70, FBMSCAP) are on correction mode. Please trade with cautious next week.