CHoffshore followed through with the breakout yesterday by closing up 0.055 today to close at 0.87 today. Target price set by brokerage firm at 0.85 had been achieved. I managed to find the brokerage house that upgraded the tp for choffshore to $1.10. It's from Kim eng, and here's the report. I might want to enter it when it retraced after a protracted upside, will update here before I enter. Probably looking at 0.815 level...if possible :)
The one I'm a bit worried about is straits asia resource.
Charting it makes me a little more comfortable. Symmetrical triangle formation. Upside or downside, not sure yet at this point. But looking at stochastic (almost touching the support level at 20%) and macd (went through peak, now forming bottom), seems like upside is more likely.
I'll be looking at whether tmr there will be a rebound to bring the price above the lower trendline. Otherwise, once trendline breaks, should be a breakout on the down side. That'll be bad. Support level 1.41, followed by 1.31.
Except yongnam, rest of the construction stocks not here not there. Probably forming base. Don't dismiss CSC and lianbeng yet...they are really consolidating and building a strong base before their next upsurge. Just did a rough calculation for lianbeng, tp is at 0.585, CSC's tp is 0.54. They will surely catch up with the leader yongnam.
Cosco almost reached my tp of $4.50. Intraday high at 4.46 before the general market sentiment took over and the price declined. I'm actually more confident of my chart reading and price objective after seeing so many of the stocks I charted cheong to my target price, haha :)
Wanted to sell yellow pages but didn't managed to fulfil my order. Never mind, tmr still got another day. Not actually in a hurry to sell, so I'll take my time. They announced that they are going to delay their AGM latest by 31 august because they are still trying to find a CEO and other independent director. The search is on...
Applied for my pac andes right issues. Accepted my allocated 4 lots and applied for another 6 excess rights, a total of $5200. Didn't know DBS charge a $2 service charge...bloody bank... They stated in the OIS that within 14 days, they will refund the rights issue not allocated to me. When will I know the results of the rights application? Well, I think they will announce within 2 weeks of 11th July. We shall see if I'm lucky enough to get the excess rights at 0.52, when the mother share is trading at around 0.905/0.910.
Dow is jittery, big ben going to speak later I think. Now at -70, europe side all red.
0 comments :
Post a Comment