Patrick Stock Reading

Sunday, October 30, 2005

Kep T & T


Kep T &T Posted by Picasa This counter went into range trade after the gap down. Its support level is at $1.01 currently and a breakdown may have a devatating effect. However, indicators are all promising across board. If risk is not a major concern, it may means loading up time. But as trader, active monitoring is necessary and cut loss must be in place to protect capital.

Alternatively, taking position and exiting regularly while waiting for a breakup; Entering at low price and exiting two or more bids above the entering price, although such gain may be trival it is still profitable while waiting. Wish all a gainful day.

Wednesday, October 26, 2005

IPC


Since it first breakout in mid May 05, it went into consolidation before the next breakout in mid July 05. Again it when into range trade before another rally in 2 Sept 05, it reaches it new high on 15 Sept 05 before decline to $0.205. It started to climb again from it low since, today it had open at $0.235 and had a high of $0.245 before closing at $0.24.

From Candlestick reading, a tweezer top is formed. Trader beware, tweezer top found in a climb tend to reverse an uptrend. Therefore it is nice to be prudent in your trading tomorrow. However, looking at short trend, uptrend is still intact, at least for another week or two.

Nearest resistant is at $0.26, this resistant level may not be strong, and may be easy to break, given that many are buying at seller price at $0.24, and buyer may push it beyod $0.26 tomorrow. Considering the tweezer formed and its' negative impact on the whole, the price may decline immediately once it touches $0.26 or $0.265.

Therefore, for swing trader, one should be looking for a lower entry price point, and an exit at $0.29 which is the next resistant level. The possibility of range trade at at $0.26 and 0.29 is high once 40.26 is broken and for those who is looking at a TP $0.30> need patient to achieve that level. Again, market sentiment is hard to predict, and could change any trend any time without consideration to whatever chart signal show on a chart, therefore there is nothing concrete here, just my little view and reading on the chart.

Have a nice and profitable tomorrow.

Tuesday, October 25, 2005

Fu Yu Corp


Was in the down trend since Aug 05. It was baten down to it low at $0.47 last week and a rebounch is taking place this week. Will this reverse it down trend since Aug?

Given that the oil price is declining, there may some hope in it. let's cross our finger, wait for the report and see how it is going to performance.

Sunday, October 23, 2005

Fibrechem


I know about a rising three method, but not a rising four method for sure... :D

Looking at the last two trading days candles on 20 Oct 05 and 21 Oct 05, this candle is know as the Bullish Engulfing Pattern. With these candles, I created another additional candle and a morning star was created (morning star is a trend reversal signal too).

When a Bullish Engulfing pattern is found in a down trend, it signal a very strong trend reversal. This reversal is going to be fast and immediate, and usually no further confirmation is needed.

Therefore, next monday rallies is expected and it wait for no one. Opening at $0.610 or higher is not going to surprise me, given that typically market will react swiftly to make the gain.

On a much conversative view, $0.595 and $0.60 may be a good entry point, but for Bullish Engulfing Pattern, market sentiment is usually very bullish, chances of getting filled is rather low. What's your moved, huh? Please refer to discliamer clause posted on the right panel.

Friday, October 21, 2005

CK Tang


It took 7 months for the cup and handle to formed from Feb 04 to Sept 04. An attempt to break out at $0.40 in Octber 04 was met with strong resistant at a high of $0.425 in Nov 04. Since, the price was range traded and decline to its' first low in June 2005 at $0.36. Range trading continue, however regain ground slowly to it first high in Aug 05 at $0.41. It went down again to a low of $0.37 in 30 Aug 05. Another shallow cup and handle was formed.

On 31 Aug it look like an attempt to shake out before breakout was started and this continue to mid Sept 05 where the breakout took place.It lasted only two days and went into consodidation about a week before another rallies that crosses to Oct 05 and at an all time high of $0.66 before retreated to $0.45 on 19 Oct o5.

For the last two trading day of this week, It is currently at it support given that the last trading day is a long white candle and a increases of volume of more then 50%, am holding a positive view on Monday with consideration on the following:

1. Some 'investor" have hubbing on the negative view on the company performance, and saying that the company property is not own by the company. It is pure rumours as far as I'm concern, and the motive is as clear; to bottom fish and accumulate.

2. Am expecting coming Q report to be positive.

3. Have visited this store and saw some renovation is taking place. It proved that the management is serious about their operation, beside creating value for the company, it is adding value to their customer as well as creating a totally different shopping environment for their customer.

4. Looking at some of the recent renovation done at it shopping floor, I'm totally impressed by it. See for yourself and judge it. (this one out of point)

Vested. This is not an inducement to buy.

Wednesday, October 19, 2005

STI

STI plunged to 66.03 or 2.9% to a low of 2,218.13 today. It was reported that the Asian stock markets, Singapore included, suffered a battering on Wednesday after the biggest jump in US producer prices in 15 years triggered concerns that higher borrowing costs will slowdown the demand for imported products.

A rebound is expected in one of the forum thread in channel news asia market talk, however, I choose to defer and would take a more cautious approach. The decline is likely to continue, as for how many days it will last no one could could predict and depend on market sentiment. let cross our finger for a better tomorrow.

Tuesday, October 18, 2005

Star Hub


Star hub, it have been in the decline for the past week and continue till Monday.

Candlestick chart reading, a Harami was formed. The real body of the first black candle has totally engulf today white candle.

Harami have top and bottm reversal, and have a tendencies of bullish view when found at the bottom of a down trend. As in this case.

With consideration to the market sentiment, futher confirmation is necessary. If the next trading is still within the initial read body, a sideway movement is likely to take place. Trading beyond the real body and a movement of price signal the confirmation of an up trend. However, we shouldn't be blind to the opposite as well, as it hold true too.

Sunday, October 16, 2005

Noble Group

Noble - The price had decline since it was traded 1.63 on sept 05 to close at 1.54 for the last two trading days on thursday and Friday. A tweezer bottom was formed. Look carefully at the chart, you'll see a cup and a handle in formed as well.

However, consider the last trading day volume the uptick is not very encouraging for the coming trading day.

To be on a safeside, one might needs a confimation before entry. Volume and a spring candle will be the confirmation signal for further rallies. On indicators, mm.. bullish view on monday.

Saturday, October 15, 2005

GES



GES since it breakout on July, from it range trading, it had strengthen from strength to strength.

On Sept 05, it reached it new high of S$0.93, before retracted and closed at S$0.910 on 14 Oct 05.

On 27 Oct 05 an EGM is schedule for the "Proposed Share Purchase Mandate". The impact may be view positively by the market. GES have a higher projection on it full year net pofit for 2006 as compare to 2005 by DBS vicker dated 19 Aug 05.

Jackspeed

Jackspeed had the cup formed recently dated 11 Oct 05. Subsequent trading day, it retracted to close at S$0.16 on 14 Oct 05, since it high on 11 Oct 05 at S$0.17. Stochastics show that it is moving downward from overbrought zone and further declince in price, if not range trading for the next few days or weeks is expected.

As for the handle we have witness a short one in the chart. However, in local context, duration for a handle to form may be short, therefore am expecting a rallies soon.

Disclaimer: The above is personal view. Author is not responsible for gain/loss base on information display here.