Yanlord update

I am right on my TA of my post dated Oct 21 regarding Yanlord shall move uptrend. But i did not expect that it went up so quick as i though it may take time to achieve it next week. i believe the uptrend shall intact and their next target will be 2.7 first this time.

Cheers

yanlord move uptrend

Yanlord had break 2.4 & closed 2.43. The next strong resistant is 2.48 - 2.49. Once break it will continue to chanllange august highest 2.89 & it is achiveable.

Basically the indicators of MACD n RSI both show sign of return uptrend with a reasonable good vol. Furthermore the price shall also go beyond 50 days MA that is another plus point.

Cheers

Venture - Cup and Handle Pattern

In my early post dated Oct 13, i mentioned that the venture will challange 9.55. Once break out it will then test 10 again. Till now 3pm it has finally reach above 9.55.
From the chart above, it shows that if it continue to move uptrend at 10, then a nice cup and handle shall form. This pattern has started since last year august.

All the best, venture !!

DOW is in Bearish rising wedge formation

In my previous post dated Oct 15 i mentioned that DOW had not much room of uptrend.

As from the above chart we can see it forms the bearish rising wedge formation in 3 months time. This is somehow not a very good pattern we are expecting for.

What is Bearish rising wedge formation ?

First of all, a wedge formation is similar to a symmetrical triangle in appearance, in that they have converging trendlines that come together at an apex. However, wedges are distinguished by a noticeable slant, either to the upside or to the downside.
In our case of rising wedge is considered bearish.
So be alert in our local market that may cause big fall should Dow happened to be a trend reversal.
Cheers !

Market is back in active now !

As i had stated in my previous post dated Oct 13 that venture is in its uptrend move this few days and we set a target breakout at 9.55. Till yesterday it show to me everything is in order. We are almost touching the level....Keep it up venture !

As for sti, finally the long winded index has reached 2700 again. This is still not a good moment to celebrate the next up trend move yet. As i se we will still need a strong break out signal to push it up firmly. Orelse the pattern may turn into trible top and it is not good at all. My strategy is to be more patient this moment, i understand a wrong direction move can cause big trouble. Well lets patiently wait for another 1 to 2 days to confirm the trend.

In my early post dated Oct 10 i had stated dow will reach 10000 in few days time & it does happen.What next ? It may go up further but not much room already.

Cheers

Market Status

Dow seems to reach its current peak. The momentom indicators are showing sign of weakness since August.
As in local market, some blue chip such as Noble, Olam or venture still look healthy. Bank counters does'nt look attractive to me. Creative is still in weak vol so i am afraid downtrend may still intact.
Overall our local market still weak as they are many counters transacted in weak vol this period.