Foreword
Recently with the stress at work easing up a bit, i am participating a lot more in the market action. I do feel that technical analysis while allows us to screen potential stock quickly, does have the weakness of being manipulated by those who play the game well. retrospectively i need to adopt a bit more due diligence.
Counter Action
YZJ SGD. Contra-ed and was stopped out. FA-wise I did the background check on this counter, that the FA was doing good with shipping rates very high now. and with the other competitors bankrupted, YZJ looked poised to secure a even larger chunk of business.
TA-wise, the counter built-up before the $1.6 region and looked like a nice point to enter for a breakout play. I entered on 30 Aug for the breakout play, only to be stopped out by the placement at $1.53 per share, which pulled the share down significantly.
Retrospectively, i realized this was a manoeuvre made by vested parties to increase the private placement price. lesson learnt was to actually do a check on the pending corporate action to see how it can affect price and your punt. though this was suppose to be a buy on growth, it ended pretty quickly which i was quite happy.
Golden Energy. BOUGHT in the 45-45.5c range, this is pure speculative. Spotted a reversal trend in this counter playing out. with strong bullish volumes and weaker bearish volumes. together with nice chart patterns, i made an entry. so this play is ongoing right now in the green. if it play out well, i do see it hitting 50c soon. . I will assess again once it hits my TP, whether to sell or to scale-up.
Active counters
Golden Agri Resources. I have held this for sometime on the pretext of bottom-picking for my value/growth counters. I have since witnessed a false breakout but i have not been stopped out as i played with a very small position for GAR.
TA-wise, for those observing, i see a possible big move coming real soon, where the price will test the earlier resistance at 42c, before heading higher again. If the bulls are successful, i do foresee a move up above the 42c resistance (where i will standby to scale-up).
FA-wise, this counter is a function of palm oil, and with palm oil being weak for some time already, i do think there is a large safety margin to hold onto this counter.
Guocoland. a value/growth counter , This counter has exceeded my expectations for the moment, and i have even scaled-up once at the 2.2-2.21 range.
TA-wise , this counter has gone parabolic, there might be a big move down which i will guard with a trailing SL, but otherwise i will try to look out for some pull backs/ consolidations to scale-up on as i have reached a nice buffer of >15% buffer.
FA-wise, the company has increased its dividends from 5c to 7c ( +40%) and their nav has increased, while the PE is still quite low. The property sector outlook is also quite positive, so looking for somemore gains for this counter.
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