Stock code: 7167
Stock name: Johore Tin Bhd
Screener: 18LC for 8 Feb 2019
Observation date: 10 Feb 2019
Observation:
a) Price & Volume:
- Price: Wide spread on upbars.
- Volume: High volume on price upbars; 1 ultra high vol (need to be caution).
b) Market Stage:
- Mark Up stage (S2) after more than 8 months of sideway movement.
c) Trading Range:
- Price was trading within a Trading Range (between Mar'18 to early Jan'19).
- As the time of writing, we can see that it is trading on an Uptrend.
d) Resistance & Support:
- Price broke the then Resistance Line (now Support Line 1) and make a pullback before start moving upwards.
- Along the way, price make few pullbacks to rest before moving up. This can be seen in the Support Line 2, 3 and now 4.
- Price is now trying to break Resistance Line 1 and is currently making a pullback below Resistance Line .
Remarks:
- We see an ultra high vol. on 27 Feb'19 and the price bar closing on the lows. This is a sign that we need to be cautious.
- Price may go sideways before going up or down. To move up, we need to see more SOS; to move down, we should see the price bar not able to close higher than the previous high.
- Those who already buy this share would need to take note and review their trading plan.
For Bahasa Malaysia version, click on the link below.
Stock name: Johore Tin Bhd
Screener: 18LC for 8 Feb 2019
Observation date: 10 Feb 2019
Observation:
a) Price & Volume:
- Price: Wide spread on upbars.
- Volume: High volume on price upbars; 1 ultra high vol (need to be caution).
b) Market Stage:
- Mark Up stage (S2) after more than 8 months of sideway movement.
c) Trading Range:
- Price was trading within a Trading Range (between Mar'18 to early Jan'19).
- As the time of writing, we can see that it is trading on an Uptrend.
d) Resistance & Support:
- Price broke the then Resistance Line (now Support Line 1) and make a pullback before start moving upwards.
- Along the way, price make few pullbacks to rest before moving up. This can be seen in the Support Line 2, 3 and now 4.
- Price is now trying to break Resistance Line 1 and is currently making a pullback below Resistance Line .
Remarks:
- We see an ultra high vol. on 27 Feb'19 and the price bar closing on the lows. This is a sign that we need to be cautious.
- Price may go sideways before going up or down. To move up, we need to see more SOS; to move down, we should see the price bar not able to close higher than the previous high.
- Those who already buy this share would need to take note and review their trading plan.
For Bahasa Malaysia version, click on the link below.
