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FCPO Identify Fake Breakout and How to Trade it?When the price is near the SnR it is where get it will get tricky...either the price want to continue the trend or reverse? The false breakout strategy : 1. Timeframe 15min 2. Identify strong valid SnR 3. Draw the zone by pick the wick and the neck. 4. If price breakout and 2nd CS close inside the zone, it is a false breakout and entry position after 2nd CS close. 5. TP for the false breakout can be the opposite SnR. Valid breakout strategy: Trend continuation 1. Use 15min and 1min chart for confirmation.
MYX:FCPO1!Education
by ArifHasbollah
MOBILIA - Breakout with no overhead resistanceOn 9/8/2021, MOBILIA broke out 0.540 with significantly higher volume than previous 14 trading days. Before the breakout, a few good signs are shown; firstly, the price volatility. Price became less and less volatile (contraction in price spread). Secondly, the volume contracted as well. The volume and price spread contract since volume surged on 23/7/21 (starting of base formation). I have seen multiple big winners in Bursa Malaysia, they all possess the same characteristics; big volume surge in the beginning of base formation, price and volume contract during base formation, high/significantly high volume during breakout at the end of base. Keep in mind, this is a new stock in bursa, hence no overhead resistance. One may say, heavy supply (heavy selling) may occur at 0.65 and 0.760 because those are the opening and highest during IPO, but in my opinion, buyers at that price already being wiped out 1st day after the IPO. No risk of heavy selling would occur soon in my opinion. Some may say, it will be in downtrend. I disagree because, looking at weekly chart, week 26/7 and 2/8 showed less participation in market (low volume). Looking at previous weeks, for this stock, in my opinion, next 2 weeks, the weekly closing price would be higher than previous weeks. One may look for quick 30-40% increase from the 0.53 price level, or maybe, can park a few hundreds ringgits for a long stretch goal of 100-200%. Remember, no overhead resistance, basically a virgin area on top. No one is there, no one is waiting to sell up there. Since people love to compare against MAs, here we go. On daily chart, last 3 days closing price is not improving, but the closing is above EMA10, EMA20, MA50, MA150, and MA200. EMA10/20 is above MA50, MA50 is above MA150 & MA200. MA150 is above MA200. Above EMA10/20, and EMA10/20 above MA50 shows that, this can be considered for quick profits (1-2 weeks). MA50 above MA150 and MA200 shows that medium term (4-8 weeks). MA50 above MA150 and MA200 is similar to Mark Minervini's approach. Price above MA150 and MA200 shows that, even for long term (more than 2 months), this stock is also can be considered. Putting Stan Weinstein approach of using RS, looking at how this stock performing against KLSE index, in daily chart, RS level is showing uptrends. Another indicator to show this stock is must buy can be held very long. I wrote a lot here, but basically, looking at price spread, price pattern, volume pattern, MAs, and RS, all are screaming; this stock is a must buy, can be held in long term. Thank you for reading, good luck, and trade at your own risk (TAYOR). P/S: My trading method is adapted based from Livermore, Minervini, and Weistein's approach. It's not a perfect approach, but it suits my style and my timing. Batting average is 47% now. Nonetheless, I strongly recommend you to read trading books and form your own trading method, regardless on how it's being based from. One thing that I learn, price pattern, MA, and volume; all great traders only used these 3 things. Works well for me! Good luck guys!
MLong
by harirzharfan19
3
DNEXSince last year we've seen tech rallies for many tech counters such as UWC, Greatech, Inari, MI, Penta and etc and most of it have achieved more than 100% of ROI if you bought it in early of 2020. The share price have been soared to so high to reflect the current earnings and attractive future prospects in semiconductor industry. If you are still looking for another potential tech counter that can bring you another 100% of ROI, why not just switch your attention to this counter, Dagangan Exchange Berhad or we called it DNEX. Yes, this counter has been skyrocketing from 0.10 early of this year to current price of 0.81, with highest price done at around 1.00+ due to their acquisition of Silterra Malaysia Sdn Bhd, cooperated with CGP from China funds to win the bid from Khazanah. Another giant company from Taiwan, Foxconn or Hon Hai, the major supplier to Apple Company joined the game by taking up 5% of stakeholding in DNEX at the price of 0.90 per unit of share after they loss the Silterra deal to DNEX. An interesting fact we can see from Bursa Malaysia, where there is a clear or obvious signal been showing to the market, for example Foxconn buying the shares of DNEX at 0.90, the market reacted immediately with gaping up of share price from 0.85 straight to 0.90+ in next trading day. Well, in this market situation where all the political uncertainties and rising of covid cases in Malaysia, panic buying is never a good thing in the market, especially in Bursa Malaysia. Worsened by conversion of company warrants that offered negative premium, the share price has been pressed down to nearly 0.65 before it rebounded to current price of 0.815. Okey, now we've know what is happening for the past few months on this share counter, let's move our sight to the latest movement of this counter where we can see the price has rebounded from 0.67 forming higher low and higher high to current price level with support zone in the region of 0.78 -0.80 which can be act as the cut loss point for short term play. However, I do not suggest for any contra trade or short term play in this counter, where we can see the price movement for the past few months, fluctuating above and below EMA 25 & 50 that caused many short term players cut loss their trade position. Hence, I would suggest to hold for long term for this counter (at least 1 year) with high expectation on their semiconductor segment (their have other segments as well like oil and IT, you can check from their website) that high possibility of turnaround of Silterra Malaysia Berhad, with technical support provided by one of the key person from Foxconn further by more and more business that will be brought in by CGP (already announced long term contract value of USD400 mil or RM1.7b, oh please, contract value RM1.7b for a company with current market capital of RM2.5b, are they kidding?! Haha) and I believed more and more contracts will be brought in by CGP and FOXCONN!!. So here is my strategy: Current Price: 0.815 Target Price 1: 0.90 Target Price 2: 1.00 Target Price 3: 1.50 (Mid - Long Term) Target Price 4: 2.00 (Long Term) Support 1: 0.78 - 0.80 Support 2: 0.70 Support 3: 0.65 Support 4: 0.56 - 0.60 (if break and close below, gg and can remove from the watchlist already).
MYX:DNEXLong
by WilliamKong91
How to trade FCPO intraday?Setup for Intraday : 1. Price near/ cross EMA200 2. Understand market structure either uptrend/downtrend/consolidation to be able to determine the SnR for the breakout. 3. Market trending confirmation by EMA14, EMA50, and EMA200. 4. Wait for a pullback when stochastic oversold/bought. 5. Make sure price reverse at least 3 candlesticks. 6. Entry when price pullback again : a) At previous support b) At EMA c) Stochastic oversold/bought again. 7. Exit a) Stoploss at the beginning price before breakout b) Target profit using Fibo Extension 1.618.
MYX:FCPO1!Education
by ArifHasbollah
2