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Hi waynekwek,
Sorry, I really can't tell u whether it will go up tomoro or next Mon, see my posts below
and my post on my chart analysis, but dyodd
waynekwek ( Date: 09-Jul-2009 23:09) Posted:
| hi richtan, I have only 3 months experience and know nothing much about TAs. So do you think China Sports will go up tomorrow? or next Monday? |
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Agreed with RichTan, emm.....really hope it is really is a bullish dragonfly doji pattern.
To be frank bullish dragonfly doji pattern is a more bullish signal compared bullish hammer pattern.
Its reliability is also higher than the bullish hammer pattern.
One more thing, if tomoro form a higher high n higher low on higher volume, there is a bullish divergence with the RSI
richtan ( Date: 09-Jul-2009 23:06) Posted:
Oh yah, forgotten tat tomoro must form a higher high n higher low on higher volume to validate the reversal
richtan ( Date: 09-Jul-2009 23:01) Posted:
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CSI today formed a dragonfly doji, which normally appears at mkt turning points.
RSI just turn up and cuts above the 30% line (bullish) but needs to be confirmed by a higher high and a higher low white candle tomoro.
If the tail is extremely long (CSI's tail is not extremely long) and at the end of a downtrend is extremely bullish.
This is just my view, dyodd |
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hi richtan, I have only 3 months experience and know nothing much about TAs. So do you think China Sports will go up tomorrow? or next Monday?
Oh yah, forgotten tat tomoro must form a higher high n higher low on higher volume to validate the reversal
richtan ( Date: 09-Jul-2009 23:01) Posted:
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CSI today formed a dragonfly doji, which normally appears at mkt turning points.
RSI just turn up and cuts above the 30% line (bullish) but needs to be confirmed by a higher high and a higher low white candle tomoro.
If the tail is extremely long (CSI's tail is not extremely long) and at the end of a downtrend is extremely bullish.
This is just my view, dyodd
Bintang ( Date: 09-Jul-2009 22:52) Posted:
| China Sports has already broken the trendline for four days in a row ,that is almost confirmed its down trend . If fact , according to the theory , if prices close below a down trendline for two days in a row , it is viewed as a valid penetration .Now setting stop loss or cut loss would be necessary at this juncture . |
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CSI today formed a dragonfly doji, which normally appears at mkt turning points.
RSI just turn up and cuts above the 30% line (bullish) but needs to be confirmed by a higher high and a higher low white candle tomoro.
If the tail is extremely long (CSI's tail is not extremely long) and at the end of a downtrend is extremely bullish.
This is just my view, dyodd
Bintang ( Date: 09-Jul-2009 22:52) Posted:
| China Sports has already broken the trendline for four days in a row ,that is almost confirmed its down trend . If fact , according to the theory , if prices close below a down trendline for two days in a row , it is viewed as a valid penetration .Now setting stop loss or cut loss would be necessary at this juncture . |
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China Sports has already broken the trendline for four days in a row ,that is almost confirmed its down trend . If fact , according to the theory , if prices close below a down trendline for two days in a row , it is viewed as a valid penetration .Now setting stop loss or cut loss would be necessary at this juncture .
I am also very positive about this counter and my target buyin is 14....heeeee....Anyway...did not buy yet because :
a) Diminishing Volume....the buying also a bit weak...
b) Company clarified the rumour.
c) The company has to delayed 2 days to release dividend....their finance dept is not familar with our CDP payment method ......strange...??
Bought Allgreen instead....heee....I am really siao ....spend so many days looking at CSI but bought AG with thought that lasted 4.587 seconds....
pilotfish ( Date: 09-Jul-2009 00:37) Posted:
Hi Bintang,
Thanks for the info, however I am still possitive with my finding for this counter. As long as no sign of negative divergence in the chart a rebounce will be expected. Usually at the the Fibonacci 's 61.2% retracement (the golden support/resistance) which is at 12.5 cts. Just a matter of time.
"One thing for such is that with a negative divergence price will come down pretty fast. So far the is no sign of price slump"
Just my view. |
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Pilotfish & Bintang,
Thanks, your comments are valuable. Wait and see. Otherwise, look for another counter.
Hi Bintang,
Thanks for the info, however I am still possitive with my finding for this counter. As long as no sign of negative divergence in the chart a rebounce will be expected. Usually at the the Fibonacci 's 61.2% retracement (the golden support/resistance) which is at 12.5 cts. Just a matter of time.
"One thing for such is that with a negative divergence price will come down pretty fast. So far the is no sign of price slump"
Just my view.
China Sports has gone down further , the Fibonacci 's 62 % retracement zone at 12 cents may be the next supporting point . This is also a point at the lower trendline of the down trend channel . If this still would not stop the falling trend , then the target would be 8 cents , I hope this will not materialize .
Some additional information which i recieved from DBSV.
China June trade balance will be out on the 10th jul
China 2q gdp out on 16jul
China June PPI and retail sales out on 17th jul
Considering all these factors, if Chinasports continue to have increased profits for this quarter a rebound could actually be very much possible in the near term.
Do keep a lookout peeps :)
Dyodd.
Hi el7888
Thanks. got u, no longer a wipsaw. However, volume goes inline with price. Should take this a normal move.
As long as the positive divergence is intact, should see a rebounce. Just a matter of time.
el7888 ( Date: 08-Jul-2009 10:04) Posted:
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See the chart below, the Head and Shoulders is formed at the top of an uptrend and when the head and shoulders succeeded to work as a reversal, the price went down and the uptrend became finished. The test was actually at 0.135 and 0.14.
dealer0168 ( Date: 08-Jul-2009 09:42) Posted:
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Actually i am hoping that it is a Bullish Gravestone Doji Pattern.
But today STI index fall have a certain impact on all stocks.
The Bullish Gravestone Doji Pattern is a bottom reversal pattern. Similar to its cousin the Bullish Inverted Hammer Pattern, it occurs in a downtrend and represents a possible reversal of trend.
Anyway let continue monitor first. |
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As I had mentioned recntly , it will PASS the H&S formation if breaking down of the neckline , then the down trend is unaviodable . But if the price could reverse up within 3 days , then the pattern would fail to form .This may be the only chance to save the scenario
Emm do see yr point. Let continue montor first.
See the chart below, the Head and Shoulders is formed at the top of an uptrend and when the head and shoulders succeeded to work as a reversal, the price went down and the uptrend became finished. The test was actually at 0.135 and 0.14.
dealer0168 ( Date: 08-Jul-2009 09:42) Posted:
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Actually i am hoping that it is a Bullish Gravestone Doji Pattern.
But today STI index fall have a certain impact on all stocks.
The Bullish Gravestone Doji Pattern is a bottom reversal pattern. Similar to its cousin the Bullish Inverted Hammer Pattern, it occurs in a downtrend and represents a possible reversal of trend.
Anyway let continue monitor first.
el7888 ( Date: 08-Jul-2009 09:05) Posted:
It breaks through 0.135 support. Confirm it is a "gravestone doji" or we call it "evening star". |
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Actually i am hoping that it is a Bullish Gravestone Doji Pattern.
But today STI index fall have a certain impact on all stocks.
The Bullish Gravestone Doji Pattern is a bottom reversal pattern. Similar to its cousin the Bullish Inverted Hammer Pattern, it occurs in a downtrend and represents a possible reversal of trend.
Anyway let continue monitor first.
el7888 ( Date: 08-Jul-2009 09:05) Posted:
It breaks through 0.135 support. Confirm it is a "gravestone doji" or we call it "evening star". |
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Hey richtan welcome back so that we can learn and exchange opinion.
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* Alert Admin |
Hi Fellow forumers.
I had mentioned tat I had decided to quit posting till those forumers tat brazenly instigate buy/sell calls, posts rumours, half-truths, posts tat incite greed and fear are banned by admin.
My stand still holds but just excuse me for once, to reappear to give support to el7888 for taking the initiative to petition admin to remove such pests for the betterment of the forum and not degrade the forum and to safeguard newbies and gullible forumers from falling prey to such undignified postings.
el7888, include me in the petition.
Bye for now tat such pests are removed and totally banned, including their ip address and hope they dun reappear using another nick, a leopard can never remove its stripes.
I will still quit if they reappear should I resume once they are banned.
I will definitely resume my postings and sharing once such pests are removed forever.
Bya again for now.
el7888 ( Date: 08-Jul-2009 04:46) Posted:
This is another example. Can we ask ShareJunction to kick this fellow out of this forum to safeguard the forumers? HE IS POSTING EVERY WHERE WITH INSTIGATED SELL & BUY. We want honest and sincere sharing in this forum only.
May be we should petition admin to remove such pests.
newtothis ( Date: 07-Jul-2009 17:22) Posted:
The buy back is fake --- Half of its buy volume is fake.
Dont buy this share it will do a fake rebound and went all the way down to $0.20.
Do Not Enter This Share "Short/Sell it" Confirmed.
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Too bad... Anyway, a good point here is that entry will be cheaper. Let's wait for confirmation.
el7888 ( Date: 08-Jul-2009 09:05) Posted:
It breaks through 0.135 support. Confirm it is a "gravestone doji" or we call it "evening star". |
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