Sunday, 20 November 2011

Momentum play HIBISCS follow up

On 16/Nov, I was commenting that the support 0.695 able to sustain, then there can be a momentum play, indeed the next day, she able to reach above 0.725 (which is 16/Nov high) but the white candle comes with low volume. I come to realise that there are bearish divergence shown in MACD & Stochastic. Anyway, anything in the future is uncertain, maybe she still trends up while the CI drops :).

I went to the RHBINVEST marketchat Ipoh on 19/Nov and the chartist expert (cum fundamentalist) was recommending this stock for a trading buy.

So, ONLY if itch hand wins, I may consider picking her up around 0.65~0.72 and with a small position as currently KLCI did show a very uncertain situation and pointing toward a bigger drop. So, if a position is long, then the plan is to take profit around 0.81 due the the bearish divergence issue.

So, time will tell, how she perform in these few weeks. I will do a continue follow up on her around Mid/Dec.




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5 comments:

  1. alwayswin11111/21/2011

    Hi Rei
    I highlighted you on Moolah's blog. Wanted to share something good with others.
    Keep up the good work.

    ReplyDelete
  2. Rei11/21/2011

    Hi 111,

    Thanks for recommending my blog ;)
    Wow ! today E&O drop 6% , hopefully you didnt enter any long position.

    ReplyDelete
  3. alwayswin11111/21/2011

    Hi Rei
    Luckily I took your advice , made some money from KFIMA . Bought around 1.60 sold 1.70. Thanks for your help.

    ReplyDelete
  4. Rei11/21/2011

    Good to hear you are profiting too.

    ReplyDelete
  5. Rei11/21/2011

    Overall regional market is getting worse (Dow dropping 187pt at the point of writing), I think we may need to stay aside and watch how low the index can go.

    ReplyDelete

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