Could you help me to look at KFIMA chart.
My opinion. KFIMA is trading in a box range (1.45-1.68).
On Friday it closed with a doji at 1)upper boll band 2)upper range of box. 3)below price resistance
I think if it breaks 1.68 strongly , then can do a trade
E>1.68. S1..64. T1.87 with immediate resistance at 1.77
But if it is bearish on Monday.. Then we wait for pullback to 1.62-1.60
Closing below 1.62 would be very bearish i.e evening star at resistance
Indicators are very bullish at the moment.
Rei comment.....
Have you entered Kfima ?
Well she is trading in a range of 1.44~1.69, my chart showed a bid difference from you, maybe your chart did not adjust the dividend recently.
Yes, if she trade above above 1.69, there will be a technical breakout from her trading range (box). But the immediate resistance is too near 1.75. Again, her reward risk ratio is not so good. In TA point of view, she is not consider a good trade set-up. But as my previous post http://reiccs.blogspot.com/2011/10/kfima-momentum-play-value-invest.html mentioned a HOLD based on her FA. Another point of view in TA terms is MACD line has go above zero and she may be continued climbing the short term uptrend channel (retrace, up and retrace for a few time before reaching 1.75 or 1.83.)
Hi Rei
ReplyDeleteThanks for the sharing . I have not entered yet . Yes the risk-reward ratio is not good. Actually I am quite spooked by this fast run in the Market. Both FBMKLCI and Dow jones have reached F78.6% retracement and looks ripe for a pullback. But this euphoria may drive FBMKLCI to 1513 before retracement. Yes, the risks outweigh the rewards.
Maybe wait for retracement before buy.
I am also looking at Coastal E>1.99. SL1.94. T2.19
There is an immediate resistance at 2.11
Normally I am a safe player. I don't trade at resistance .. Itchy fingers la this time
Hi 111,
ReplyDeleteGood to be safe, definitely the index is showing signs of pulling back, so is best not to enter in these few days even she may reach 1500 or above, definitely a good correction will be a good time to enter again. Happy trading :)
Hi Rei
ReplyDeleteI heed your advice , wait for retracement and hence high probability trades.
Keep posting. I look forward to your posts. Not necessarily to trade but for learning purposes.
Thanks for your support, you also can recommend your friends to my blog also. With more readers like you, definitely I will be motivated to write more :).
ReplyDelete