Get started

Ecrl

HSS in the cross-road (HSS Engineers; 0185.kl)Observation (14/4): HSS Engineers is one of the construction Companies that is involved in the newly revised ECRL project, overseeing the Designing & Engineering aspect. The stock has been on an Uptrend since early of this year. Based on analysis at the following Pointer: A) Price was moving within a Trading Range with very low vol. B) Price enters Mark-Up stage (S2) and move within the Uptrend range. We can see as of 12/4, price did a pullback with the closing within the Uptrend range. Conclusion: At present, price is facing strong resistance at RM1.29. It did a pullback on 12/4. There are three (3) possible scenario for this stock: a) In order for price to move up further, it needs to have either a strong SOS (i.e. Spring or Line Change) with high vol. b) Price may trade within RM1.15 - RM1.29 (taking a short rest) before moving up. During this time, vol. is crucial. c) If price break below Trading Range level at RM1.15 with high vol., we consider there is no interest to push price further, hence beginning of Mark-Down phase (S4). Read my earlier comment on HSS Engineers by clicking on the link below (Bahasa Malaysia version).
MYX:HSSEB
by mdalifalwi
Will it Rally for an Up Move? (Prestar; 9873.kl)Observation (12/4): Prestar Resources is one of the construction Companies that is involved in the newly revised ECRL project, supplying guardrails for the project. Just like Benalec, the stock has been on a Downtrend for a long time. Based on analysis at the following Pointer: A) Price break above Resistance (68sen). However, the next bar price close lower with a long upper tail and Ultra High Vol. This means alot of selling pressure around this price level as those who bought this stock are trying to cut their losses or break even. B) Price eventually moved lower till it is supported at 62.5sen. We can say that SM is testing the for any sellers on the downside. As vol. is low, we can say that supply has dried up at this point. C) Price then make another attempt to move higher; this time it closes on the low with a long upper tail and Ultra High Vol. Again, Supply is still strong at this pricing area. Conclusion: There is abundant of supply every time price tries to go higher. This can be seen on 11/3 & 12/4 where both trading dates have Ultra High Vol.; we can also see the recent bar (12/4) unable to close higher than the previous high (11/3). There is also not many SOS since 11/3. In order for price to move higher, it would need to move sideways with low vol. or form a long chart pattern. The next few bars will be crucial to determine price direction.
MYX:PRESTAR
by mdalifalwi
A Downtrend Continuation? (Benalec Holdings, 5190.kl)Observation (12/4): Benalec Holdings is one of the construction Companies that is involved in the newly revised ECRL project. Although the price may seem cheap for "investing", we can see that the stock has been on a Downtrend for a long time. Based on analysis at the following Pointer: A) Price close higher than the last high with ultra high volume. However, price close lower than the previous high. B) Price tries to move above the high in A but failed. It end up closing on the low. Volume is ultra high as well. C) Price again tried to move above the high in B but not able to reach it. It closes lower than B. Conclusion: As prices high and its closing price keeps going lower, we can interpret it as SM still has no intention to move the price higher. The next few bars is crucial to confirm our interpretation. If it continues to close lower, more downside coming soon; if it moves sideways, there is possibility it will move up.
MYX:BENALEC
by mdalifalwi