1) If we break above 3600, a new uptrend will be formed.
2) If we break below 3480, downtrend resumes.
(I'm talking about a timeframe of 2-3 weeks)
Lian Beng broke out of bullish ascending triangle formation with high volume. I'm only afraid that the breakout will result in failure, just like the one on 26th April. Setup looks the same. BUT there's one essential difference : MACD on 26th april is on a downtrend after reaching a peak, while MACD now is on an uptrend. That should be more evidence that the breakout is genuine. Stochastics also show more upside to come.
Technical target is 0.38, based on flag between 15th May to 21st May. CIMB issued a technical target price of 0.41 too. I'll be happy to see it rise above 0.375, that will mean there's absolutely no resistance to stop it from moving higher. Should easily exceed the flag target of 0.38.
Yongnam (above) went into another ascending triangle formation. This one seems more robust in formation than the one I posted last time. Should be able to see action soon, with higher probability of breakup on the upside. Breakout target is 0.38 with higher than average volume. MACD seems like wanting to cross over soon. The charts for yongnam is very very nice.
Pac andes (above) broke out of consolidation zone and had increase everyday (even through those super down days recently) to close at 1.500 today. That's amazing! It bought me returns of over 76% already :) Too bad I only have 4 lots, but it's okay. I'm going to subscribe to the rights at 52 cts each, bring my total holdings to 8 lots.
AND SGX..give up...still cheonging after so many days. Today rose up another 55 cts. Can really huat big time if you just own 5 lots of this on 1st June, where the price is only around $7 plus plus. Now it's $9.85.
Dow futures at -33, Europe all red... I think Dow in trouble tonight. Oh, and Japan might raise interest rate in August...some macro issues to think about.
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First time that my portfolio losses went below 19k :) I just have to keep this up, I'll erase my losses soon enough! At the same time, I must know that these numbers are transient in nature and they come and go as days passes. The important thing here is that I must NOT repeat all the mistakes that brought me to these losses, otherwise history would repeat again.
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