On 16/Nov, Alwayswin111 informed me, he has also bought into Coastal and taken profit at 2.00.
I also taken partial profit around this price. Then I decided to put in some TA touch by buying back around the blue shadow area (1.80~1.82). Well, I did not manage to get and she has rebounded, luckily I still hold on to some.
Considering our KLCI dropping 13 pts in the morning, while she only drops 1 sen and fight back to positive 4.3% when CI closes only -4.8pt, this may be sending out a signal she going to challenge her previous high (2.04) again. Well, lets see this time she manage to climb till the upper line of the channel (2.08~2.09) which coincide with 100MA line also. I will offload some more, before loading her back around the lower line of the channel. After all, I would like the keep this channel for a longer period as Value Investment.
Hi Rei
ReplyDeleteCould you help to look at UOADEV.
If Market is good I would like to go in tomorrow :-
E1.44. SL1.40 T1.55 .
I am putting in very tight stops because Market is very volatile.
Coastal also looks good
111,
ReplyDeleteUOADEV seems like a good one to me, Stochastic/RSI/MACD shows positive signal. See that you really put a tight stop there. Many TA expert is predicting the repeating scenario of 2008 phenomena which this rebound would be a last one before the big big drop, so I would only put in a small position if itch hand wins again.
Hi Shawn, welcome to my blog ;)
ReplyDeleteWell, seems like the lower line of the channels wins, Coastal touch 1.82 intraday today. Lets see if this supports holds or not, if she rebound, then the chances she be climbing the channel again. Note that her q results is not so encouraging but seeing her low P/E, I believe she is an undervalued stocks.
ReplyDeleteHi Rei
ReplyDeleteI didn't trade UOADEV because of poor market sentiment.
Also on further analysis, M50 is very nearby and Macd had a bearish centreline crossover
RSI and stochastic seem to be trending down .
I feel M50 may be a strong resistance.
Maybe wait for,1.28 and see whether reversal signals appear
UOADEV may even revisit its recent low if market weakens.
What do you think.
Hi 111,
ReplyDeleteI expect you did not enter UOADEV as you should stick to your trading plan i.e. E at 1.44 since she did not touch this price, and trading vol was thin, is a NO enter.
I did see the MA50 line, since your planned E is 1.44, I presume IF UOADEV able to reach this price with vol, given such bearish condition, then MA50 should be taken out easily.
You can have a look at 20/Oct, where our KLCI also tank intraday -16pt & close -9pt while UOADEV up 12.6% breaking the 1.55 support easily.