Trading Journal

xmart wrote:



we may expect MT support to hold for now. 6680-6700 will provide some good fight for bull (0.5 fib) and it is essential ASI to break above 6700 to stay in bull trend. if rejected 6400, 6250 will provide some support, but highly unlikely with given market sentiment and September results. in a nutshell, i am expecting a super September.

good luck all!

xmart wrote:axe,

still the pattern is too early to be ascending triangle. this could take many forms. the good news is ACME had come out from MT resistance trend. making that "W" with a higher low after a downtrend is a good reversal point.

there is a big resistance at 8.80-9.00 range. breaking above 8 will trigger the target of 8.80-9.00 range. furthermore, each stock has its unique way. if you carefully look at weekly candlestick chart you may see dojis at start and end point of each rally.

CCI gave a buy signal at 7.60-7.80 level (22.08.2016) after 28.04.2014. which cannot be ignored very easily (for me)

on financial note:
this is still a loss making company. they went through a restructuring process, change management and reduced loss very well. if they produce a positive earning this will appreciate more. if they fail to return 'from loss making territory, then this technical rally might not sustained and may return to 6.5 level.

good luck.

P:S- i have collected this share from 6 to 6.60 averaging 6.20. my view might be bias but tried to give a balance view.

Yin-Yang wrote:For educational purposes:

Has 'breaking of wave 01 high from wave 3' occurred in ACME ?

PANTOMATH wrote:Thanks XM for the presentation.
REXP is good as Longterm investment.I pointed out it in REXP thread as well.

If you are a longterm trader weekly chart is not the ideal chart format.If you carefully looked at your chart in 2017 May also REXP has shown the same chart pattern in weekly chart.But it failed in few weeks.

I use quarterly chart for longterm trading. REXP is now positive in quarterly charts that's why I mentioned it in REXP thread.

I'll discuss about LT trading later.

xmart wrote:REXP


There is an interesting chart again. REXP has been on the downward channel since 2016 and indicators show that turnover occurred at 160 level. a breaking of 200 psychological barrier would ensure that down trend has also come to an end.

the breaking of 200 would open possibilities to test the immediate resistance of 220, then 245 and 265 in the coming months if the trend is strong. fundamentally if REXP could earn 50+ EPS with favorable exchange fluctuation, GSP+ etc.

BFL


Technically, BFL is forming a double bottom in the weekly chart around strong support area 115. given policy decision on maize importation, it is not possible to expect big appreciation in share price but forming of the double bottom would take BFL to 155-160 region for consolidation.

SAMP


classic chart for classic share. SAMP has completed it's 5 waves in complete Elliot cycles from 2012-2018 period in another major Elliot wave (Wave I) and then looking forward to start its 2nd wave to 450+ in 4-5 years. but excessive correction had brought the share below to 220 which is discounted since technically bottom could have been around 250.

deeper the correction, swifter the wave! so, this share probably corrected to 275-280 level once the market base established.

SCAP



interesting chart for failing wedge bullish continuation. testing of psychological barrier 6 in coming days is an inevitable and likely breaking of 6 to test 6.3 would bring 20% capital return and nearly 8-10% dividend gain. if 6.3 resistance broke successfully with the failing wedge, we could expect SCAP to test 7.50 -7.70 in coming months.

open for discussion! please..

xmart wrote:SCAP is done. REXP, BFL, and SAMP are still on the move. so let's look at any new bullish entries while our winnings run.

how about,

1. MGT
2. ASIY
3. APLA
4. TYRE

shall we discuss them?