Patrick Stock Reading

Tuesday, February 28, 2006

Bullish and Bearish

This posting is for highlighting of a possible trend outbreak from a horizontal consolidation region. This formation is likely to be applicable to short term trend and not applicable to the four stages of chart pattern, where the bse is formed before an uptrend.

Monday, February 27, 2006

Fragrance



It retracted from it high at $0.79, to a low of $0.73 for the pasted trading sessions, and closed at $0.75 with only 45K traded today.

Setting resistance line for this counter seem difficult and every price points seem to be resistance, (at least to me) this is due to the low trading activity in this counter, however the up trending is confirmed base on the the indicators on the chart. Stochastics is moving away from the oversold zone, RSI is moving upward. On OBV and Acc/Dist, both look encouraging.

However do note, the above is history, when trading start tomorrow, it may be a total different picture...

Global Voice

Petro China


Petro China is at its low at $0.325 on 20 oct 05, it range traded and breakout on 25 Jan 06 to rallied to a high of $0.59. Price had retracted 50% to a low of $0.465. Last trading session it breakout from its retractment,currently resistance is at $0.54 and the next resistance is at $0.57-8, support is as shown.

With the news that PetroChia buys of 35% Singpaore Universal Terminal, the price is likely to move up further. Current indicators are all positive. There are two resistance that it needs to be clear, before testing new high.

As for the news, frankly see no compelling reason for a surge in price, but it's definately a positive news on it on.

Saturday, February 25, 2006

CG Tech


It trend downward since touches $0.30 on 9 Feb 06 to a low of $0.24 on 20 Feb 06. Range traded for three days with a low at $0.245. the last trading session saw the price breakout from it range trading and met with resistance at $0.27. The next resistance is $0.29. although wish to place it at $0.30. many ppls is likely to shy away from the round figure.

Note that there is some risk need consideration, the result is yet to anounce. What if the result meet expection, or below expectation? such result may reverse the direction of the price. May bet on a positive result given that the 3Q result was rather encouraging. if one is thinking of trading this counter, stop lost must be set and follow closely.

Thursday, February 23, 2006

China Sun n again

Went up yesterday from $0.60 to $0.635 and close at $0.61. Today it gap up to opened at $0.625 and was down to $0.615 before mid day break, with buy/sell at $0.620/$0.625. the gap is still open for now. there is a possibility that is will close at $0.61 or lower.

Indicators... am saving all the indicators

In General,there is a possibility that this is just a pullback. The resistance is probably at $0.645. if this resistance is tesed and not broken the down trend will pevail, if resistance broke, the testing of new high begin.

Risk taking needed.

Tuesday, February 21, 2006

China Sun again


chart - on the 10 feb indicators signal sell. Next trading day it breakdown from it trend line. followed by another session of massive sell down. although an umbrella candle appeared, the session that follows is still a sell down.

the current last two sessions - 2 candles pattern it look like a harami; it have a reversal effect in a down trend, it may range trade too. But, take a look at the candles again, it is a tweezer bottom, tweezer top/bottom both have a reversal effect.

opening price- there is no one could tells what is the opening price. but using the closing price as a guide on a uncertain market. your guess is as good as any retail investor. fund manager, expert and professional not included here, as there no fix "rules", as long as their plot ring in profit.

getting emotional is a no no in trading , some expert say so. not me, I'm bloodly new in this bloddy market. and bloodly hell, I don't vest in this counter.

While sharing my view without any emotion, and for guessing the likely trend for the next few days, I got bomdarded be it up or down. I wonder... is this group of people going to survive the hard knock when they are trading with so much emotion in it.

vested in sembmar at 2.94 and it was push down to 2.8+ should I XYZ everyone that I come in contact. I have another few counters sufferred the same fate on Monday so I must go around ABC everyone i meet?

No I didn't, I post my experience I had on china fishery. did anyone act on it, took the risk to make some kopi today. I don't know... I didn't because i'm saving my cash for the counter I'm aiming at - sembmar. When it start to cheong big...but how can I be sure that it will cheong... i don't know... just prepare for it

Sunday, February 12, 2006

Junma


Junma daily chart is not impressive. It is trending down since its high on 7 Feb 06. Near term support is likely to be at $0.24, but guess it is unlikely to hold. MACD and stochastics signalled sell. ... Unable to upload chart now. Will do it later.

Tuesday, February 07, 2006

Biosensors

Broker buy call S$1.19, TP S$1.61

Thursday, February 02, 2006

China Fishery

DBS Vickers Securities - Buy call S$1.54 with 1-year TP S$1.80.

S$1.80 ??? now trading at S$1.66...