Long Riverstone! Three bullish golden cross spotted! Ascending triangle is poised for a break-up. However, 0.855 resistance zone must be carefully looked out for!
AP4 trade ideas
Riverstone Long Towards 1st Targetted ResistanceFollowed up to my Post on 28th Dec 2020 regarding on Riverstones, my views and ideas on it.
Fundamental Analysis
Upcoming 2 quarters should still deliver record high profits.
High Fair Value price given by Analyst :
1) CGS-CIMB : 2.500
2) DBS-RESEARCH : 2.030
3) RHB INVEST : 2.730
4) UOB KAH HIAN : 2.990
Technical Analysis
Mentioned Strong Support at around 1.11 area on 28th Dec 2020, my own view of 1st Major Resistance Point is around 1.41-1.44. Can Take Some Profits to Protect Capital. However, fundamentally, remain extremely strong. And personally believe will towards 2nd Major and 3rd Major Resistance.
Riverstone Long at Major SupportFundamental Analysis
Upcoming 2 quarters should still deliver record high profits.
High Fair Value price given by Analyst :
1) CGS-CIMB : 2.500
2) DBS-RESEARCH : 2.030
3) RHB INVEST : 2.730
4) UOB KAH HIAN : 2.990
Technical Analysis
I think the right question to ask right now is has Riverstone bottomed? From chart perspective wise, I believe Top Glove has hit major Support Area. I would like to treat Support/Resistance as an Area rather than a Line.
We could see further downside pressure if it breaks therefore cut loss is important. I used Low of the Strong Support 1.06 - 1 ATR (0.07 for the date i drew the graph) = 0.99 (My Stop Loss Point)
RiverStone SGX (Pump And Dump, SG Style)View On River Stone (4 SEPT 2019)
This is going to be an another classic example of Pump And Dump.
Reaching $3 shall be easy.
DYODD, all the best and read the disclaimer too.
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Thank You!
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Riverstone - Opportunity to long againAfter retracing a steep 62% from it's recent swing high, Riverstone tested horizontal support at 3.52 this morning and quickly rebounded from here. With bullish divergence between price and stochastic in the making, I would long here @ 3.60 with initial stop at 3.48.
Take partial profits between 4.20-4.35 and ride the rest with a trailing stop.
(trialing stop is a must as this guy is volatile)
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
AP4 - Riverstone Ascending TriangleThe ascending triangle has formed, Riverstone heading to possible breakout. Let us await a positive trading signal at 3.80!
Riverstone - uptrend intactAfter about 2 weeks of consolidation, Riverstone formed a bullish divergence last Friday, confirmed upon the stock trading about last candle high @ 3.26 today. More upside to go. The trend is your friend!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Breakout Spotted On Affordable StocksBy using Trend Analysis, we can see that there is breakout in the 3 company while REX INTL is on a verge of breakout.
These share price per unit is very affordable and has great potential to raise further.
If judging the MACD Indicator (12 , 26) and Exponential Moving Average (15 , 30), all four of them are showing signs of uptrend.
We maybe able to predict that the price will increase further.
It may be worth to save these four stocks in the watch list and observe.
Riverstone - Ascending Triangle PatternAscending Triangle is a continuation (bullish) pattern.
Odds for this pattern is for the stock to break to the upside eventually. Long between 2.30-2.35 with a stop a few ticks below the lower triangle line @ 2.27. A break up is confirmed only when it CLOSES above 2.41.
Let's see if this trade will work out!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
SGX Riverstone Neutralstock is trading near its resistance line. Depending on the movement subsequently, if it can maintain above the resistance line then can go long, else should go short. To continue to watch
You are the disease, I am the cure !We know for a fact that the coronavirus has caused pretty bad damages to the tourism industry with Disneyland and other theme parks closing down temporarily. So are airlines being forced to halt flights in and out of China. The F&B and casinos are not spared either.
So, with diseases lurking , people wants to find a cure. That started the frenzy and crazy buying of many biotech stocks worldwide that may or may not have a direct relationship to finding the cure for the virus. Some are still in incubation stage or indirectly involved in the medical chain but traders and investors are drumming up the prices to rocket high without considering the valuations of the company.
Let's assume you bought after the breakout at around 0.99 level. It shoot up to a high of 1.30, a 30% returns in a very short period of time. This temptation drives speculators into the market and greed overcomes logic and everyone tries to fool everyone that there is a next higher price.
This post mortem analysis helps us to stay grounded to using trend line strategy. First you buy but you need to know where to take profits. At 1.24, it was the Nov 18 peak which tells you if the price does visit this or cross this level, you must be extra careful.
The circle zone are where you should take profits (last resort) or you could have place your targets at exactly 1.24 as well. Say you were caught in the frenzy and sold off at 1.16 , 2nd red candle closing price, that would gave you more than 20% profits. Every 1000 invested , you get 200 profits.
But if you are greedy and let emotions run over your logic, then when it plummet down to 1.04, you are left with barely few cents of profits if you managed to get out.
Will the price goes higher ? Possibly as it has already broke out of the bearish trend line or it might consolidates for a while unless new evidence supports it to go higher.
Thus, by combining trend line and price action, you can have your cake and eat it.
To many traders, it is not just the profits they are after but the fact that they got it correct, predicting the right direction and maximising the profits that truly makes their day. Of course, there are traders who are good at that but the majority of us are not that skilful. We must know our strength and weaknesses to play this game. If you can gain 30 profits out of 100 and out of 10 games, you win 5, in the long run, you are going to be OK. It is the consistency of winning that is the challenge.
So, keep on practising and keep the rules of trading tattoo to your heart. Always use a SL, apply appropriate risk and capital management. When greed takes over, one may increase his position unnecessarily , hoping to gain more at a shorter period of time. This is very dangerous and done in a reckless manner, it can blow your accounts after accounts.
