Patrick Stock Reading

Thursday, April 27, 2006

CG Tech , China Sky

Cg tech, it gap down today and close with a candle that look likes an inverted hammer or spinning bottom, however, I won't bet on it and would rather wait for confirmation. Gapping upward on tomorrow opening with a higher high and higher low will be confirmation of trend reversal for me. Stochastic have show some encouraging upturn, although it is not strong, but MACD yet to show a strong trend reversal signal. Think it is still anybody guess for now, near term support is at 0.32, resistance at 0.355.



China sky, a common doji appeared, it may mean an end to the trend or the market is just taking a break.

Candle aside both stochastic and MACD has yet to show +ive signal. The volume is drying up and to me alone, it’s encouraging and a positive indication. Near term support at 0.96 and resistance at 1.08

Saturday, April 22, 2006

Oil wonder

Generally if oil price goes up, companies will be hit, including individual.

Of course transportation companies will be likely to be hardest hit, but they have factor in this cost and some transferred it to consumers, may be long ago or as and when the oil price surge.

For tech counter being circle out, (in a forum) it need stronger reasons to sustain it. Across the board statement is questionable and misleading to those who are ill informed.

The highest prediction of oil price by some expert is $100 by end of 2006, others claim that it is the same level as last year, so what a good management will do?

Risk management is one important factor in a company and believes many senior managements is seriously looking at it since last year on; How oil price could affected their bottom line? Of course, contingency plan is up and really to protect their life line.

In money management, central bank took no action to stop sing dollar from strengthening. Me no expert in this area, but believes it help and will be good for our economy, ultimately those importing and export from here will be benefited. For exchange rate kick in and improve this margine for exporting and import they could buy more or cheaper.

The down side... me yet to learn about it...hehehe..

Thursday, April 20, 2006

China Sun

The alert of a possible down trend was posted on 18 April 06 and had also highlighted that there is a possibility of a fail spinning top without giving any reasons. See no reasons to find logical explaination as the market always surprise all. So no reason listed then.

Of Course history all know how to said? “Mai kay kiang. Some may “took” me” :))
Others was rather positive and happy about my guessing about this counter going down, because it always the opposite of my guess. I’m delighted too, because they gainning not lossing.

Since my down talking is making wonder for this counter, why not help the supporter to gain more and be happy. Well I'm going do just that, by talking down on this counter in particular.

Chart below display a black spinning top after yesterday closing. Today session confirmed it reversal of trend. This time round there is more reason to worried for and concerned about among traders.
1. When is the correction is setting in
2. The gap is yet to be covered, when the first spinning top appear. (many gaps infact)
3. TA had confirmed the reversal.
4. Today trading session, price movement is rather "bo buay chow". (not logical to say like that leh, whose care)
5. MACD - both lines is softening and turning down.
6. Also the guppy mma "bending" liao (not in the chart)

Nearest support is at 0.89 (just in case some kaisee trader cut lost at 0.900, so place it lower) if this support don’t hold well, given that the sentiment is highly in the standby "chicken running" mode. The next level of suport is likely to be at 0.815. (same reason, scare another kaisee anyhow cut lost) If, price were to retract to this level, well would expecting to see some range trade between 0.815 - 0.84. As to where will it go from here depend loh. If the company is not issue with the "li..cense". Haha... haha...ha... you know lah they built the factory, without the appoaval yet hor? If rejected, how? Well, we move South for party. Of course if approach then we move North without saying lor.

hm...think, I'll just add china sun into my Watch List, it will be a spetacular to see the seesaw tomorrow. 

You who trade with emotion, are risking yourself to much in the market. anyway happy trading. I'll see you at 0.815 or maybe lower loh.. ;-)

"Song, happy bo?"
Next week can count big money liao hor? Talk so, very badly on this counter, so am expecting it to cheong like mad tomorrow. No need to thank me lah, I'm just too happy to help.


Wednesday, April 19, 2006

PCA Tech

Will not be discussing TA or commenting on FA of this counter, you have to form your own view.

Generally, held a positive view on this counter and vested. The result is likely to be out around 20 April 2006. Expecting a good report from them.

For a brief view of its 1H report click link below: http://www.listedcompany.com/ir/pca/newsroom/PCAResultsBriefing7Oct05.pdf

Tuesday, April 18, 2006

STX-PO

While some hold on a bearish view on this counter, I choose to deferred and was rather positive about this; betting on the stochastic which is at the oversold zone and showing sign of up turning. MACD wise strong signal is still yet to be seen, however, inaddition to the stochasitcs, I'm betting on the hammer too.

vesting interest.

China Sun

Commenting negatively on a counter will causes some supoorter to see red, whether it is being objective or bias. Anyway for the benefit of some who have hte intention to vest in this counter, do double check its short term trend, IF you don't have the holding power.

A spinning top candle, either black or white is not of a concern, but it price moment for the current period is really matter, with the stochastics at overbrought zone and turning down..., however, did anyone encounter a fail H & S formation, believes some did, so there's a possibility that a spinning top might fail too...

NO VESTING INTEREST.

Tuesday, April 11, 2006

CDW update



Trading Halt, lately it was actively traded, guess it's more or less related to the annoncement the company is releasing soon. Chart look good, cup and handle formation. As to where the px will move, depend on the news.

Good luck to all vested. Vesting interest.

Labroy

STX-PO update

Sitting at support, if 0.85 hold well, likely to see range trading, otherwise will be expecting further movement to the south. Uptrend is the last thing in mind for now, but not impossible.

Not vested, not a buy, sell or hold call.

Friday, April 07, 2006

STX-PO

Commented on this counter on 3 Apr 2006 after the chart was posted without comment on 31 March 06

It tested the resistance at 0.89 several times before. Today the resistance was broke, and it continues to trend to a high of 0.905 before closing down at 0.885.

No significant increase in volume, in fact the volume is much lower as compare to previous session. There is a high possibility that the price will reverse from the current "trend" given that a spinning top appeared in the chart…

If the price trends downward on next trading session/s, chances are, it is likely to break it low establish on 31 march. Beware.

Not vested

star hub

Tuesday, April 04, 2006

CAO

Let try this out on paper trade tomorrow.

trading period 4 days

buy at 1.35
cut loss at 1.30 and
TP at 1.44

5.3.2006 - update on paper trade.
well, lost 6 cts

another try - this time should hv a better winning chance given that the chart is much more positive than yesterday.
buy at 1.35
cut lost 1.30
TP at 1.45

may be should monitor before placing order.

CDW


Find no update so far and wondering why px is trending upward? The most likely reason I could think of is likely due to it year end result report and investors is anticpating it.A better then expected report would cause it px to trend further, a below or even meet expectation set of result would cause this counter to reverse it current trend.

Am expecting range trading after the recent rally. Vested :(

Fragrance



Fragrance have been trending up since it ipo last year, have been in and out of this counter several times and so far so good. It is trending for sure but quietly.

It had reported a 100% profit as compare to last FY.

Today it tested it resistance for the second time at 0.82, near term support is at 0.79. However, this counter is not actively traded, as such it may not be attractive to trader.

betting on stochastics indicators %K about 75% and %D around 83% and smooth %D around 78% over brought, to me alone, it means there is more up side before it trend reverse its trend.

Vested since IPO.