Ivory Momentum Play Dec11 Followup

As per my previous post for momentum play, as at today, she still manage to rebound from my Stop Loss Level at 0.94, thus I still can hold on to this stock to see whether this trade will bring me a profit or not.

Though Ivory did show a Inverted Hammer today & Stochastic at oversold and she seems to start to show some sign of rebound, I'm expecting she will start her upward movement tomorrow. But as of my writing now,  Europe & US market is in very RED, so the upward movement may have to wait :(

If the scenario become worst, for Momentum Play, discipline is important, once she close below 0.94, I have to cut her off as per my initial trading plan.

IVORY - Momentum Play

FA  :
For Momentum Play based on technically Analysis, as long as she is in Profit & there are news catalyst should quite enough.
Announcement on 11/Nov/11
IVORY PROPERTIES GROUP BERHAD ("IVORY" OR THE "COMPANY")
(I) PROPOSED PDA;
(II) PROPOSED JOINT VENTURE;
(III) PROPOSED RIGHTS ISSUE;
(IV) PROPOSED BONUS ISSUE;
(V) PROPOSED PROVISION OF FINANCIAL ASSISTANCE;
(VI) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND
(VII) PROPOSED AMENDMENTS.

TA:
MA       : 20MA is trending up, Price above all monitored MA line.
MACD : Going to bullish cross-over.
Stochastic : Trending up but yet to over sold.
Vol           : Above avg.
Entry at 1.01, Stop loss 0.94 & Profit =1.17