MUHIBAH

[Trademore]

Stage has upgraded for Muhibbah. From stage 1 to stage 2. Now in stage 3. Long term investor still monitoring this counter. Slowly coming. New ceiling is at 1.00. Volume shrink in correction phase. Wait for breakout with volume or collect for long term now. Trend follower still waiting.

[swingtrader188]

I've been staying away from Bursa Malaysia for quite while until I saw a trade set-up on MUHIBBAH that is too hard to resist.
On the weekly chart, I spotted a potential double bullish divergence between price and MACD. On daily chart, MACD line is above its signal line and stoch(8,3,3) just made a bullish reversal (%K line crossed above its %D line).
On Bursa news, I noticed EPF bought MUHIBBAH shares from the open market on 3 and 4 Jun 2010. It's look like there are fundamental and technical reasons to buy MUHIBBAH.
I decided to buy MUHIBBAH at 89.5 sen today. The stop-loss will be below 26 May 2010 low at 83 sen. The initial target is 8 Apr 2010 high at RM1.14. Let's see how the trade unfold.

I sold half of my MUHIBAH shares at RM1.12 on 8 Nov 10. Still have 1/2 to ride on potential further upside. Will use Chandelier Exit to protect profit.

[swingtrader188]

MUHIBAH gapped up yesterday. A sign of further upside. However, there is no certainty. I am using Chandelier Exit(CE) to protect my profit on my remaining MUHIBAH shares. Today CE reads RM1.29.

[Trademore]

swingtrader188, you don't have to worry. Muhibah surely will go up for more profit. 

[Trademore]

Can we wait for Wave 5?



Cheers

[swingtrader188]

Trademore, I agree with you there. MUHIBAH wave 5 target is expected around rm1.60 and rm1.80 per Fib projection.

[Trademore]

Muhibah broke the resistance. Stage 2 continue. Election coming!!!