KLSE Energy Sector - Battle of the fastestA higher float stock price action are generally slower compared to a lower float stock. We pick few energy stocks (some leader and laggard) to illustrate the price action across the H4 timeframe over 2 years timeline. We also include the WTI & Brent Crude Oil price to show the sector momentum.
How we get the balance float:
We use pickastock.info to get the NOSH (ie Shares issued)
Next we use bursamarketplace.com to calculate % owned by funds, institutions, etc. The balance unutilized is what we called float (or balance float)
Balance floated shares = NOSH x balance unutilized %
Based on our stock pick in Energy sector, following is the list from lightest to the heaviest.
CARIMIN 56M float shares
WASEONG 142M float shares
MYX:DAYANG 215M float shares
MYX:SERBADK 405M float shares
MYX:ALAM 754M float shares
MYX:VELESTO 1449M float shares
MYX:SAPNRG 4130M float shares
Based on our observation, higher float shares (SAPNRG, VELESTO) tends to move slowly compared to its lower float shares (CARIMIN, WASEONG). This play significant role during sectoral play for better short-term gain. This however discount any stock-specific sentiment (ie project award, court action, etc) as that would result to individual stock demand surge/purge. As a rule of thumb, stocks with float < 500M can provide good price action.
KLSE
GENTING - Bull run likely in progressElliott Wave Theory suggests that:
Genting has probably completed its Major Correction (A-B-C) since its inception back in 2003 & is currently primed for a Wave 3 bullish impulse
Buy on Uptrend Channel Breakout (BULL)QES ~ very BULL
3 days confirmed stand above uptrend channel (very bullish)
Yesterday test previous resistance 0.35. Resistance turned into the support area. Can set main support at 0.35.
Today breakout neckline resistance.
FA - Healthy
Valuation - not yet too overvalue compare to other technology stock
Unisem suppliers - Recently be awarded a lot of order from Unisem
News - Technology supply chain shortage (international giant tech company request tsmc taiwan to increase production to 200% haha
BursaMYX:BURSA
Inverse HnS
Slow Turtle Buy(B) use for BOB
FiFT +ve recharge
MCDX+ Spike +ve
SL: Below 8
MSM rebounding upMSM, a lower low and higher high form,
buying strength can found at 0.57-0.6 solid green bar.
setting a low target for this first, 0.69, 0.75.
RiskReward ratio = 2
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Pertama buying interest remain positivePERTAMA very strong buying, 3rd attempt to break out the resistance.
Price action and volume , showing buyers' power increase.
And it bounce up from a supporting moving average line.
Risk reward ratio = 1.75
TP = +10%-20% or more
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ARBB second attempt push up higherAfter a long time of sideways and accumulation,
Volume is pushing in the last 2 hours before trade ends.
Expecting a breakout will come very soon.
Rish & Reward = 2
TP 1 = 0.315
TP 2 = 0.40
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INARI resistant breakoutINARI strong buying broke out resistance level.
Price action and volume, showing buyers' power increase.
Risk reward ratio = 2.8
TP = +12% or more
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LUXCHEM selling power decreaseExpecting a rebound from bottom of the uptrend tunnel (if this is the support).
Risk reward ratio = 4
TP = 20%+
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SamChem Resistant breakoutSAMCHEM has almost reached previous high.
Volume increase and last bar close show that buyer interest increase.
TP will be 20%++
Risk & reward ratio : 1.5
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PMBTECH strong buyingPMBTECH very strong buying, getting ready to break out the resistant.
Price action and volume , showing buyers' power increase.
And it bounce up from bottom of uptrend tunnel.
Risk reward ratio = 3.2
TP = +15% or more
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KLSE looking for major downtrendHello Traders
Here is quick analysis on KLSE. I'm projecting major downtrend if breaking Lower level
Kretam continue on it uptrend with positive buyingKretam very strong buying broke out previous resistant.
Price action and volume , showing buyers' power increase.
And it bounce up from bottom of uptrend tunnel.
Risk reward ratio = 2
TP = +12% or more
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SOLARVEST continue with the uptrend ride!Second entry chance at the low level.
Target price move high up and the trailing stop moving up accordingly.
If anyone still holding since RM1.40, congrats!!
I'm expecting next TP around RM2.70
SOLARVEST TP RM2.10Price is entering the uptrend tunnel again @ RM1.40.
We can see volume is building up, and RM1.40 is previous key level resistant.
1st TP RM 1.60, if the price can break out @ this previous high, the next TP we looking at is RM 2.10.
Risk reward ratio 3:1
TP 2.10
SL if lower than 1.1
Magnum is at resistant, building upward momentumLast close at resistant level,
Price stay above the uptrend supporting MA.
Expecting this time will be a real breakout.
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Perfect Low Risk entry for Kenanga? Last close at resistant level,
Bar price action and the volume, showing buyers' power increase.
And it always stay above the uptrend supporting MA and tunnel.
I'm expecting this time will be a real breakout.
Risk reward ratio = 3
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Reaching 2018 highest!!OrnaPaper is in a very good swing position, and it has reached 2018 highest.
Recently a lot packaging company going up.
With more online sales, box packaging demand increase.
Now is at 2018 high and ceiling of the uptrend tunnel, I'm expecting it break up higher.
Aiming at RM2.
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Esafe reach support and reboundEsafe, tested the downside for a few times,
looks like the selling force is weak.
setting a low target for this first, 0.315, 0.355.
RiskReward ratio = 1
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Volume building up, will it break up higher?Afujiya, maybe we can put in our stocklist,
Looking at the volume are slowly building up and selling pressure is decreasing.
Maybe we will see price go above 0.5-0.535.
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Disclaimer
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CHGP high possible breakoutBoth green lines are support resistant zone.
The volume and price building up nicely and follow the uptrend tunnel nicely.
Selling pressure towards 0.48 are gone.
Risk reward ratio : 1.8
Parkson about to break the Trendline. Aim for RM0.40Waiting for Daily Candle to close above the Trendline.
P.s : Big Buying Volume
Elsoft possible breakout higher, TP 0.75Elsoft possible to breakout higher. PRICE NOW 0.64
Today volume and price increase. Selling momentum decreases forming a divergence in momentum.
Red line indicates the downtrend line, price are ready to cross up the red line soon.
RISK REWARD RATIO - 1:2.3
TP 0.75
2nd TP 0.9
CL 0.59
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