On Friday, 12Oct, she shows a few of interesting signal :
1) reached resistance 1.80 with good VOLUME (touch for the 3rd time)
2) at this 1.80 resistance for the 3rd time is like previous 1.64 resistance, which was broken on the 3rd time.
3) and MACD is on the verge of bullish crossing.
4) this is also a Ascending triangle pattern, once break, the projected target would be RM2.
Well, I have been planning to clear my remaining qty in Aug around 1.85~1.89 if she reach in 1~2 weeks time. Well, time flies, she did not manage to reach my target within my time frame, so I have kept and change my strategy to VI.
So, next week this question will pose to myself again, should I sell at 1.89,1.93 or 2.00. Let see how the candlestick & volume during the next week and I will make a decision on this.
If really follow FA, here is a few TP by investment house.
| Analyse date | TP | Rec | Investment House |
| 9/10/2012 | 1.80 | HOLD | KENANGA |
| 13/09/2012 | 2.20 | BUY | HWANGDBS |
| 23/07/2012 | 1.69 | HOLD | RHB |
| 23/07/2012 | 1.62 | HOLD | MAYBANK |
| 23/07/2012 | 1.53 | HOLD | HLG |
| 23/07/2012 | 1.80 | BUY | CIMB |
| 23/07/2012 | 1.86 | HOLD | AMMB |
interesting analysis for this counter! in my humble point of view, CMMT is currently developing what Elliott Wave technicians call as Ending Diagonal. there is not much data available to support my hypothesis as the chart only dates back up to two years ago. nevertheless, any upside for this counter will be wedge-like/rangebound.
ReplyDeleteHi Jufri,
ReplyDeleteThanks for your comment, anyway I'm not a fan of Elliot Wave due to its subjective judgement from different people who analyse a chart. My concern
here is, if she do a breakout then I am willing to take profit around 1.93
since my entry price is 1.60.