Talking Stock With The Doc

This Blog has been created for the purpose of sharing my ideas on investing on Bursa Malaysia using Technical Analysis. Stock market investing is a science & TA a scientific tool used by investment professionals. TA also has its sceptics but this is an oportunity for you to follow TA based investing ideas. So welcome to my blog and may you "Live Long And Prosper".

Tuesday, July 25, 2006

Watchlist: Johor Land Consolidation & Flag


Johore Land Bhd has been consolidating in a possible Flag pattern since reaching its recent high of 1.17, close to the highs of 2002 & 2004. Volume has fallen considerably to almost negligible amounts fulfilling the requirement of the Flag pattern. Current price of 0.955 is close to support levels of 0.92 - 0.90.

A breakout has a measuring level of 0.35 (to be added to the breakout price). If breakout on high volume happens at 0.92, the Target Price is 1.27 to 1.30 the next resistance level. Assuming that interest in SJER is still high, then this consolidation has the potential for strong breakout potential.

Cut Loss is below 0.90 BUT buy only on strong volume breakout out of the Flag & not before.

posted by Dr. Siva @ 8:33 am

1 Comments:

At 2:14 am, Blogger Dr. Siva said...

Peter, there must be high volume on b/out. This is NOT a Flag breakout, no confirmation with volume. Have to wait & see next moves.

 

Post a Comment

<< Home