SsteelVCP pattern spotted on Ssteel, might retest its support/resistance first before swinging up to its target.
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SSTEEL trade ideas
EASY123 Prediction @MYX SSTEELLife is simple...Trade with Simplicity!
BUY Signal = (BT-Yellow-Diamond), (White-Candle), (Green-Upward-Triangle), (White-Star)
SELL Signal = (Red-Dot), Red-Downward-Triangle)
*The trend direction: Extended (Green background) Uptrend. (Must not break the S2 to maintain the trend)
*The Bottom signal (BT) was sighted on 24-Dec.
*Price tested the lifeline (Redline) & close above it on 10-Dec.
*The Momentum signal (White-Star) sighted on 24-Dec, this shows the strong buying momentum.
*The Bell Alert was triggered on 10-Dec, an indication of a coming signal.
Prediction: The immediate hot-chase (Red-Dot, above the candle) has resulted in the pullback/correction to/nearby the lifeline (Red-line) area. It needs to break the immediate Resistance to rally to the next TP.
Preference Strategy: Swing trading (Follow the BUY/SELL Signal respectively.)
Target Price: Immediate RM0.83-88 & 0.93-96
Cut Loss: If broke below S2 Support RM0.69
*Reminder TP & CL is an individual preference & decision. No fix rule or guideline for it...Trade at your own risk.
<TradeVSA> Update on Steel Counters in KLSE!1. Ann Joo
2. Malaysia Steel
3. Lion Industries
4. YKGI
5. Southern Steel
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Southern Steel (KLSE: 5665)The dark green region is my live analyses back in 1H-2016 calling 1H-2016 to be rock bottom of Asian markets' bearish weakness of 2H-2013 to 2H-2015 which caused most people to lose most money in the most fakely bullish times (using index strength to kill broad market stocks). This mostly enacted per my live warnings, including the precision bottom.
The light yellow region is my live analyses in 2H-2016 and November 2016 calling for strong buys in steel stocks, metal stocks and raw material stocks (Refer to past track records attached below that had been time-stamped and tracked by followers worldwide). Many of my followers are already sitting on huge gains on steel/metal stocks such as USX-Steel Corp (NYSE), Angang (HKSE), Press metal (KLSE), Malaysia Steel (KLSE) and Southern Steel (KLSE).
The series of high volume flows as indicated by the dark green volumes are all impulsive buy volumes which ate up everything at the sell queues on offer. There were not much unloads each time after the big buys occurred in the market. Most of the time only naive and ignorant retail investors and day traders are getting out at low prices but smart monies continuously took over the buy positions.
Southern Steel also easily executed a gap-up with high volume recently in December of 2018, eating up everything at the sell queue on offer. This is done right after the worldwide fearful correction of December 2018. While everyone sells, the smart monies grabbed the opportunity to eat up everything on offer once again. This is a display of high confidence that the stock price is still very cheap based on future earnings this company is to continue to reap in.
Based on the entire series of volume flow, Southern Steel has yet another +100% profits upside from here. This gives Southern Steel the next target price of 4.56. This represents +608% returns from my 1H-2016 scoop-the-bottom operations, +368% returns from my November-2016 scoop the bottom operations and a +200% returns from my February-2018 scoop-the-bottom operations (for averaged up addition of buys on Steel-Metal stocks worldwide).
SSTEELUnable to break the descrending trendline again, result coming in soon in 2-3 weeks time.
Make or break for this one.
