bought Krisenergy at 0.162( current price of .156, SL:.143-.142 TP .19[in 1 month],.25, .33)
this means i am in 4 trading positions ( beyond my threshold)
Bullish Breakout spotted in Accordia golf, Thai Bev and a weak uptrend for Sheng Shiong.
Elaboration
Krisenergy. for the longest time, been eyeing Krisenergy ( SK3 : SGX). Fundamentally, the counter has increasing production of oil, reduction in operating cost and oil rigs off the coast of Thailand coming online; downsides are that they have been plagued by low oil prices (last FY they were at 20+ USD per barrel compared to 50+ USD per barrel in 2014), and also the creditors reducing their revolving loan facilities. with oil prices recovered to 2014 prices and increased oil production with more oil rigs coming online, it points to increasing profitability with the sole issue of creditors pulling back the money when they need it most. Taking cue from the gap up, hopefully signalling a reversal, i took the plunge (quite recklessly) , while heading to work as i saw the price shoot up from .159 to .16 to .168 in a short few seconds. later the day, the prices retracted back to opening price and today there was hardly any action. if we look at trade ideas, SMA 20 is turning up, and using it as the dynamic support, we can actually TP at .19 in the 20 odd days time frame, afterwhich if it proves otherwise to drop it. so now just need to wait for more activities in this counter. hopefully the it trades in my favour and i get away richer.
Bullish Breakouts
Thaibev was a tip-off from my NS friends and the good people of STG fb group. the consolidation period where there was a tight grouping of sma 5,10,20, plus the higher green volume, and a longer timeframe uptrend were strong indicators of a bullish breakout waiting to occur! after waiting for some time in it, it finally break out of the 89c to 91c hovering range. now waiting for it to break and sustain abv the 96c point where it will test new highs. this bullish breakout will run for some time it seems. stay tuned.
Accordia Golf Trust has been accumulating for sometime and even across the XD period. in fact the XD was a good mask by the big boys to hide their buying tracks. after the bullish breakout there were some retracement, take the opportunity to be vested! if you look at the MACD histo the sharp gradient points to a high probability run, hopefully for sometime!
Sheng Shiong has been in my portfolio for awhile, bought it as a break out trade, only to be tricked by the false breakout. but seems like now it is going to swing upwards, albeit a bit weakly as he accumulation has not been strong. i bought it at 89.5c, it cld be my long position as it gives increasing dividends, and have some china bets, if which successful will be very good for the counter.
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