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Saturday, November 15, 2008

5056 ENGTEX / 综合指数 2008年 11月 14日 / Composite Index 14/11/2008




5056 ENGTEX By Zhuge Liang


Bollinger Mid Band & Rising Volume Support
:
#1 Bollinger Middle Band : ENGTEX prices breakout Bollinger Mid Band in late Oct 08 and stayed consistently above, Therefore the Mid BB act as the immediate price support. Next support seen @83 sen.

#2 Rising Volume : ENGTEX prices consistent with the rising monthly average. The present traded volume is only about 50% of the price drops further 2 months back. Any additional volume will bring prices to immediated target 93 sen. Next target seen RM1.00

MACD & Stochastics : Faltering somewhat due to weak mkt sentuments but neverheless still in bullish mode.

What went most unnoticed about ENGTEX prices are the obvious support off low prices.

How many RED candles do you see from the ENGTEX charts for the past 10 sessions? NONE ..... therefore supporting ZL's observations in the stock low prices support. Whenever ENGTEX open below previous closing price, buying support prevent any severe price discrepancies in this stock. Since Red candles denote bearishness, what about ENGTEX's greenies? Naturally it is a healthy issue.

Support...............0.83 / 75 / 70
Resistance.......... 0.95 / 1.00 / 1.20

Cutloss................ 0.68 sen

Target................. 0.93 / 98 / 1.18

Recommendations : Buy on dip towards target 1.00 >>> 1.20


综合指数 2008年 11月 14日 By Zhuge Liang


如图中箭头A所示,综合指数一度上探887点的胜图自动费氏线的阻力,惟综指最终还是未能突破此阻力水平,这表示887点继续的成为综指接下来的阻力线。综指当前的支持水平则落在800点的胜图自动费氏线,而T2这下降趋势线也有望成为综指的动态支持线。

如图所示,布林频带(Bollinger Band)收窄23%,这表示综指目前依然是处于一个横摆巩固的格局里。一般上,综指将继续的处于这巩固的走势,直到布林频带重新开始打开为止。

如图中箭头B所示,马股成交量增加18.6%,使到成交量再度超越40天成交量移动平均线(VMA),这表示并不是所有的投资者都作壁上观,市场还是有一定的交投量。

如图中C圈所示,随机指标(Stochastic)跌破了30%的水平,这意味综指的短期走势还是属于弱势中。无论如何,由于布林频带目前是属于收窄中,这意味这综指并未确认形成一个短期跌势,因为当布林频带收窄时,随机指标的讯号只是反映短期走势的情绪,综指是要等待布林频带重新打开,我们才能确定综指新趋势的方向。

总的来说,目前综指将继续的维持在横摆巩固,酝酿着一个新的趋势,通常综指横摆越久,综指在布林频带打开是的爆发力就越大。


Composite Index Daily Technical Analysis 14/11/2008 by Zhuge Liang

As indicated by A, the KLCI tested the 887 WinChart Automatic Fibonacci Retracement on Friday, but failed to break above the 887 level, and therefore, the 887 resistance remains intact. Support for the KLCI is at 800 Fibonacci Retracement, while the T2 line is the dynamic support for the KLCI.

As shown on the chart, the Bollinger Bands Width is still contracting (-23%), suggesting the KLCI is still in its consolidation stage. Generally, as the Bollinger Bands Width contracts, the market direction is unclear. In other words, the KLCI is gearing for a new direction, and the new direction shall be revealed once the Bollinger Bands Width re-expands.

As indicated by B, total market volume increased 18.6%, with the volume returned to above 40-day VMA level. This shows that the market participation is still at a healthy level.

As circled at C, the Stochastic breaks below 30% level by margin, suggesting the KLCI is turning weaker. But since the Bollinger Bands Width is still contracting, the signals from the secondary indicator are usually less significant.

In short, the KLCI is still at consolidation, while preparing for a new move. Generally, the longer the consolidation, the expansion of the Bollinger Bands Width signal would be clearer, thus producing a more precise signal for the new direction.

HAPPY TRADING & GOODLUCK2ALL

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