SCOMI

[swingtrader100]

Weekly chart are now showing that SCOMI downtrend could be coming to an end. Supporting this case are 3 technical clues.
1. There is a positive divergence between price and MACD - a lower price low but higher MACD in early Sep 06 .
2. Price appears to have made a higher low supported by higher closing price to previous week.
3. The MACD line just crossed above its signal line.
The stop-loss is at 0.85 and the target is 1.03 (The channel line parallel to the tentative up trendline) giving a reward-to-risk ratio of above 2.
See SCOMI weekly chart attached.

[Francis]

thanks for sharing.
 

[csong]

swingtrader100,
Great chart & analysis too - much appreciated 
And I love your blog site 

[theng]

My indicator still too high, if it can stand firm above 92c the best is 93c, may be will start moving north.

[hitchhiker]

i dont mind buying a bit high and expensive , if the stock has the ability to cut and stay above RM0.90 , with heavy volume to support , at least it will go to the top active stocks , that the operator will try to make the chart nicely and "invite" players to join the game before making the killing !

[funtrade]

Month chart doesn't seem to b compelling. Perhaps if Scomien & Scomimr making move then only consider.

[theng]

SCOMAL look very much more better than scomi.

[funtrade]

Short term yes, scomal looks better. Month chart does not confirm a true breakout yet. If short term 3rd wave probably aiming at 0.15. I will grab profit & run 1st if reach 0.15 

[funtrade]

Ah, sorry lah, last check, scomal already reached 0.15  . Somebody bought 200 lots at that price. Subsequent q at 0.135B & 0.14S.

[Maxforce]

Look like good time to accumulate - I think distribution phase has ended and accumulation phase has begun.
But since I have a different trading style, I m not buying this.
(Does not fit to my overall trading strategy)

Expected timeframe for Scomi to rechallenge the 1.00 barrier is Dec to Jan - very crude estimation done for accumulation to be completed.

Good luck and happy trading!

[Maxforce]

And so... I was partly right... and partly wrong..
Scomi today opened 0.92 closed 0.965 with an intraday high of 1.02.
Geez...

[smallcap]

Aiyo... missed up the "tip" from Maxforce oledi....... 

[funtrade]

I look at it differently. I think Scomi's sudden burst has to do with somebody being in the hospital. The market perception was probably that with the somebody in hospital, one obstacle has been reduced substantially and hence the sudden burst of scomi group counters which is related to u know who.

No doubt scomi's indicators was improving the last few days, but the burst was like more related to this unspeakable factor that no TA can predict.

I tried to catch the boat at 0.09 for scomi-ca but unfortunately the tide risen to fast, so missed it. Not dare to go in anymore when it surged past 0.11. 

[Maxforce]

Aiyo... missed up the "tip" from Maxforce oledi....... 

Eh, dont defame me ar - Maxforce dont give tips wan 

No doubt scomi's indicators was improving the last few days, but the burst was like more related to this unspeakable factor that no TA can predict.

This is actually normal during the accumulation phase - the sudden burst depending on how far the accumulation process is. But I do expect a pull back though I fear, will never see below 90c for the short term period.

I tried to catch the boat at 0.09 for scomi-ca but unfortunately the tide risen to fast, so missed it. Not dare to go in anymore when it surged past 0.11. 

The CA is more risky compared to the mother share. Check the expiry.

[smallcap]

Eh, dont defame me ar - Maxforce dont give tips wan 

The CA is more risky compared to the mother share. Check the expiry.

Haha, better don't call it "tip", should change to "value pick" 

Yes, I don't very like CA, for me is high risk low return. Those who entered CA at the beginning already burned like hell. CA seems another way for major shareholders to grab money from the small fishes.