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TOPGLOV target hit as previously expected (Told you so)MYX:TOPGLOV has hit my second expected target of RM2.00 yesterday. First target RM2.30 and was spot on achieved in early November 2021. I started following this name since November 22, 2020 and has been posting numerous posts and warnings of it coming down. Yet I get laughed at with people saying how can a profitable company fall to RM2 from a whopping RM7+ after bonus issue? Well, look at how it fell. To me, whether the company is profitable or not, it doesn't really matter, because prices are moved by supply and demand. It doesn't matter at all if its a profitable company or not, fact is it is sliding down, the actual question you should ask is what are you going to do about it given that it is sliding down. Not sit there and continue to be in denial hoping it will make a comeback and continue to gather all possible news to support your bagholding. That's living in denial. Hope we learn a lesson from this. Expecting it to hover around RM1.80-RM2.00 for now. Wil definitely not buy this.
MYX:TOPGLOVShort
by Richkierich
Told you so (TOPGLOV chart updates)Following up with my earlier post, MYX:TOPGLOV is moving as expected towards the RM2.30 area first, with some possible support at RM2.00-RM1.80 region. Just would like to highlight that the "Dollar-cost-averaging" method only works with uptrending stocks. When you encounter stocks that are in an underlying downtrend, implementing the averaging down method will only cause more hurt than gain. P/S: I do not rely on income statements, balance sheets or market news. In my opinion, the information the charts present is sufficient to easily tell the probabilities of the stock moving in which direction.
MYX:TOPGLOVShort
by Richkierich
ANCOM (BURSA WK43 2021)First uptrend finished, price breakout the box which consolidated 1 to 2 weeks. There is two possible entry trade coming days: (1) Breakout Entry, follow the strong uptrend with volume. (2) Wait price retrace and a confirmation of rebound. Since no resistance line on top of price, taking profit target can be set above 2R unless price appear huge bear candle with high volume. Initial stop loss set at recent low 2.40 or 2.52 (short term trade). ================================================================================================================================ I am a profitable trader, here is the watchlist for BursaMalaysia Market. -TGL Engineered Excellence-
ALong
by ginlin84
EWINT (BURSA WK42 2021) Price is slightly boost up from a bearish trend since June 2021. A potential uptrend forming, it can be having two possibility entry points for us: 1. Breakout the recent higher level @0.52 and price will keep up. 2. A retrace after breakout or pressed by 0.52 resistance level, entry trade when rebound. ================================================================================================== I am a profitable trader, here is the watchlist for BursaMalaysia Market. -TGL Engineered Excellence-
E
by ginlin84
NYLEX (BURSA WK42 2021)After a long consolidation since May till Sept, price was started boost up at 15 of Sept. Stage 1 is completed, and Stage 2 - Uptrend is on going. A trade reversal retracement at 14 Oct and 15 Oct is a confirmation day. Bullish candle with volume (1.2x average volume), Stochastic golden cross at 30. Initial stop loss at 1.10 recent lower level. Target profit 1.35~1.40 with 2R if can cross up resistance line at 1.26 ============================================================================================================================================= I am a profitable trader, here is the watchlist for BursaMalaysia Market. -TGL Engineered Excellence-
MYX:NYLEXLong
by ginlin84