DocTS Stock Update + Hiap Teck
Well its been 3 days since my last update, so lets see whats happening with my 4 stock picks. I am also adding another stock to watch - Hiap Teck.
1) ACPI - still looking good. All signals are still +ve & there are no sell signals. Prices still above the MAV & within the rising upper Bollinger Band channel. ADX still strong. MACDH also +ve. Resistance at 1.00 is still strong so it has to overcome this to continue its bullish trend. Still a hold.
2) Jotech - is looking good. It is still riding the 7-day MAV & all signals still solid. ADX is growing stronger, BB is rising & MACDH still +ve. A breakout above the resistance 0f 1.22 will be very strong for Jotech but this will be the 4th attempt in 5 months so we'll just have to wait & watch if it will be successful.
3) Sime Engineering - still looks ok. Signals getting a little flat but no sell signals yet. Thursday's close is stradling the 7 day MAV but still above the other MAV & within the BB upper channel. The latest news is that Sime Darby will buy Ramunia & not Sime Eng, but the ultimate benefit is to Sime Eng, so overall it is still good for Sime Eng. We have no idea how the market will respond but we are technicians & this is not bad news per se & good news long term, so we will watch the signals for our next move. For now its still a hold.
4) Utama - still looks very good. All indicators are fine. ADX continues to rise & is at 30. Very strong bullish signal. MACDH still rising & prices still above the MAV & within a rising BB. Immediate resistance is 1.23 to 1.25 & at this rate it should break above this resistance soon. Stock is still very bullish. Incidentally RHB is also looking equally good.
5) Hiap Teck - is another stock that is giving good signals using DocTS. ADX especially is quite strong & bullish. Resistance at 0.91 is very strong & 4 previous attempts to breakout, the most recent on Monday, were not successful. But if it does breakout, the rise will be very strong with a Target price of 1.18 (30% gain). So watch for high volume breakout to buy.
Summary - All stocks are still within trend. No reversal or sell signals yet.
posted by Dr. Siva @ 8:37 pm
4 Comments:
Hi Doc, Hiaptek failed to crack 0.90 succesfully for the 4th time since Sept. Currently its +DI has dipped below 40% and moving towards convergence with -DI with ADX(14) moving upwards. Although these are not strong signals to confirm a retracement, I am worried with a downtrend in smoothed RSI(9). This could be the straw that's going to break the camels back after the 4th failure in breakout attempt.
Hi dragonfly, Unfortunately these indicators can change & a dip below 40% for DMI can indicate either reversal or just a minor correction. The fact that it cannot break 0.90 is of concern, but I will wait for real confirmation of reversal in trend b4 selling. This must incl confirmation by several indicators & not just 1 or 2. But your caution is noted.
Hi Doc, it's all system go for Hiaptek. I think the first waypoint is 0.97 thereafter 1.28. Very close to your analysis in this posting.
Hi Doc, it's all system go for Hiaptek. I think the first waypoint is 0.97 thereafter 1.28. Very close to your analysis in this posting.
Post a Comment
<< Home