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Good start for mermaid !
Mermaid's volume very low today...
From the date of the post below until now , mermaid still never cross 87 cents n still staying below its 55MA . Yesterday it even broke the 10MA ,30MA n 100MA as strong support previously . Once the 100MA cut the 55MA from above , the trend may go down faster , because the dead cross would formed at the same time .
Bintang ( Date: 04-Dec-2009 20:52) Posted:
| Mermaid did not perform well this week , its share price has been contrained below the cross of the 10MA , 30MA n 55MA . Its directional movement index is negatively placed n ADX is at 14 which would be rising . Aroon indicator has shown bearish pattern which would lead to weak trend ahead in next week 's trading . I wish I have a wrong reading of the chart formation , now the chart has shown a completed H&S formation n pointing to a downside target of 57 cents . If not to materialize of this target , a quick n powerful soaring with huge volume above 55MA at 87 cents may void the above situation . |
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Hi thulasiappan ,
That u mentioned from John J Murphy 's gap explanation are those significant gaps . What I was mentioning here are those insignificant common gaps . Those gaps I was talking about were mostly at the turning points , or sometimes at their tops or bottoms , therefore there are always much more trading opportunities then others . However , there is absolutely no reason why the gaps must be filled .
Bintang .
thulasiappan ( Date: 18-Dec-2009 21:42) Posted:
According to John J. Murphy “price gaps are simply areas on
the bar chart where no trading has taken place. In an uptrend , if the prices
open above the highest price of the previous day, or in down trend, the day’s
highest price is below the previous day’s low leaving a gap or open space on
the chart that is not filled during the day”. But in the case of mermaid on the 6th Nov it opened at 0.745 and closed at 0.72. The next day it opened at 0.73 and closed at 0.815. So the 7th Nov price opened within the previous day's open and close price. If I follow John J. Murphy then there is no price gaps need to be filled. That is the reason I confused.
Bintang ( Date: 18-Dec-2009 21:02) Posted:
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Hi thulasiappan ,
Pls check the chart on 06/11/09 when the closing price was 72 cents , n the next day it started to trade from 73 cents . This was how the gap was formed . |
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Don't need to bother about laws, waves etc. Just "surround the enemy"
According to John J. Murphy “price gaps are simply areas on
the bar chart where no trading has taken place. In an uptrend , if the prices
open above the highest price of the previous day, or in down trend, the day’s
highest price is below the previous day’s low leaving a gap or open space on
the chart that is not filled during the day”.
But in the case of mermaid on the 6th Nov it opened at 0.745 and closed at 0.72. The next day it opened at 0.73 and closed at 0.815. So the 7th Nov price opened within the previous day's open and close price. If I follow John J. Murphy then there is no price gaps need to be filled. That is the reason I confused.
Bintang ( Date: 18-Dec-2009 21:02) Posted:
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Hi thulasiappan ,
Pls check the chart on 06/11/09 when the closing price was 72 cents , n the next day it started to trade from 73 cents . This was how the gap was formed .
thulasiappan ( Date: 18-Dec-2009 20:50) Posted:
Hi Bitang, In mermaid's chart I could not see any gap at 72 cents. I am confused hope you can enlighten me. Anyway Thanks for your helpful postings. |
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Not surprise if it continues to drop..Need to keep forcing out retail rights holders
Mermaid hit twice at 86 cents after its right-issues , this had formed its double top formation in short term . It had also formed a hanging man in today 's trading , falling below the shadow of the hanging man may see a downtrend to 72 cents which is a very strong support level .
Bintang ( Date: 18-Dec-2009 07:43) Posted:
Mermaid closed at 30 MA yesterday at 80.5 cents , ADX is going sideway at 13 , if it would rise after the negatively placed of D+n D- , then the downtrend would be going down faster . RSI is also showing the weakness of the trend , it may go down to fill the gap at 72 cents since some of the moving averages are already go beyond the share price .
victorian2 ( Date: 17-Dec-2009 01:21) Posted:
Bintang,
The FA explanation for this downtrend is simple. The rights issue was just concluded just a couple of weeks ago. At 64c ex-rights, BB will be collecting shares within a tight range hence trying to shake retail out of their new rights shares plus their holdings. At 80c, it's still a decent 16c premium.
It'll stay tight ranged for a while...plus 4th quarter results won't be out till February so it'll just stay ranged bound as the shaking continues..... Very typical of shares in their post rights period. But make no mistake..... when it's time to go..........it'll cheong once again. Take a good look at Genting and PSL......both had rights shares..... there are many others with rights shares still in consolidation stage...
I'm personally just avoiding these shares for now till the time is ripe... |
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Hi thulasiappan ,
Pls check the chart on 06/11/09 when the closing price was 72 cents , n the next day it started to trade from 73 cents . This was how the gap was formed .
thulasiappan ( Date: 18-Dec-2009 20:50) Posted:
Hi Bitang, In mermaid's chart I could not see any gap at 72 cents. I am confused hope you can enlighten me. Anyway Thanks for your helpful postings.
Bintang ( Date: 18-Dec-2009 07:43) Posted:
| Mermaid closed at 30 MA yesterday at 80.5 cents , ADX is going sideway at 13 , if it would rise after the negatively placed of D+n D- , then the downtrend would be going down faster . RSI is also showing the weakness of the trend , it may go down to fill the gap at 72 cents since some of the moving averages are already go beyond the share price |
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Hi Bitang,
In mermaid's chart I could not see any gap at 72 cents. I am confused hope you can enlighten me.
Anyway Thanks for your helpful postings.
Bintang ( Date: 18-Dec-2009 07:43) Posted:
Mermaid closed at 30 MA yesterday at 80.5 cents , ADX is going sideway at 13 , if it would rise after the negatively placed of D+n D- , then the downtrend would be going down faster . RSI is also showing the weakness of the trend , it may go down to fill the gap at 72 cents since some of the moving averages are already go beyond the share price .
victorian2 ( Date: 17-Dec-2009 01:21) Posted:
Bintang,
The FA explanation for this downtrend is simple. The rights issue was just concluded just a couple of weeks ago. At 64c ex-rights, BB will be collecting shares within a tight range hence trying to shake retail out of their new rights shares plus their holdings. At 80c, it's still a decent 16c premium.
It'll stay tight ranged for a while...plus 4th quarter results won't be out till February so it'll just stay ranged bound as the shaking continues..... Very typical of shares in their post rights period. But make no mistake..... when it's time to go..........it'll cheong once again. Take a good look at Genting and PSL......both had rights shares..... there are many others with rights shares still in consolidation stage...
I'm personally just avoiding these shares for now till the time is ripe... |
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Mermaid closed at 30 MA yesterday at 80.5 cents , ADX is going sideway at 13 , if it would rise after the negatively placed of D+n D- , then the downtrend would be going down faster . RSI is also showing the weakness of the trend , it may go down to fill the gap at 72 cents since some of the moving averages are already go beyond the share price .
victorian2 ( Date: 17-Dec-2009 01:21) Posted:
Bintang,
The FA explanation for this downtrend is simple. The rights issue was just concluded just a couple of weeks ago. At 64c ex-rights, BB will be collecting shares within a tight range hence trying to shake retail out of their new rights shares plus their holdings. At 80c, it's still a decent 16c premium.
It'll stay tight ranged for a while...plus 4th quarter results won't be out till February so it'll just stay ranged bound as the shaking continues..... Very typical of shares in their post rights period. But make no mistake..... when it's time to go..........it'll cheong once again. Take a good look at Genting and PSL......both had rights shares..... there are many others with rights shares still in consolidation stage...
I'm personally just avoiding these shares for now till the time is ripe... |
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Enemy is surrounded. Eventually it should go up
Bintang,
The FA explanation for this downtrend is simple. The rights issue was just concluded just a couple of weeks ago. At 64c ex-rights, BB will be collecting shares within a tight range hence trying to shake retail out of their new rights shares plus their holdings. At 80c, it's still a decent 16c premium.
It'll stay tight ranged for a while...plus 4th quarter results won't be out till February so it'll just stay ranged bound as the shaking continues..... Very typical of shares in their post rights period. But make no mistake..... when it's time to go..........it'll cheong once again. Take a good look at Genting and PSL......both had rights shares..... there are many others with rights shares still in consolidation stage...
I'm personally just avoiding these shares for now till the time is ripe...
As mermaid failed to cross the 87 cents resistance during the recent surging , to reverse the downtrend looks impossible now . The 55MA has just started to head down above the share price . The moving average may push the share price to go further down , n the short term support is at 77.5 cents .
Bintang ( Date: 08-Dec-2009 17:46) Posted:
Mermaid must to soar with huge volume crossing 87 cents , then the down trend can be reversed .
Bintang ( Date: 04-Dec-2009 20:52) Posted:
| Mermaid did not perform well this week , its share price has been contrained below the cross of the 10MA , 30MA n 55MA . Its directional movement index is negatively placed n ADX is at 14 which would be rising . Aroon indicator has shown bearish pattern which would lead to weak trend ahead in next week 's trading . I wish I have a wrong reading of the chart formation , now the chart has shown a completed H&S formation n pointing to a downside target of 57 cents . If not to materialize of this target , a quick n powerful soaring with huge volume above 55MA at 87 cents may void the above situation . |
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As mermaid failed to cross the 87 cents resistance during the recent surging , to reverse the downtrend looks impossible now . The 55MA has just started to head down above the share price . The moving average may push the share price to go further down , n the short term support is at 77.5 cents .
Bintang ( Date: 08-Dec-2009 17:46) Posted:
Mermaid must to soar with huge volume crossing 87 cents , then the down trend can be reversed .
Bintang ( Date: 04-Dec-2009 20:52) Posted:
| Mermaid did not perform well this week , its share price has been contrained below the cross of the 10MA , 30MA n 55MA . Its directional movement index is negatively placed n ADX is at 14 which would be rising . Aroon indicator has shown bearish pattern which would lead to weak trend ahead in next week 's trading . I wish I have a wrong reading of the chart formation , now the chart has shown a completed H&S formation n pointing to a downside target of 57 cents . If not to materialize of this target , a quick n powerful soaring with huge volume above 55MA at 87 cents may void the above situation . |
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As mermaid failed to cross the 87 cents resistance during the recent surging , to reverse the downtrend looks impossible now . The 55MA has just started to head down above the share price . The moving average may push the share price to go further down , n the short term support is at 77.5 cents .
Bintang ( Date: 08-Dec-2009 17:46) Posted:
Mermaid must to soar with huge volume crossing 87 cents , then the down trend can be reversed .
Bintang ( Date: 04-Dec-2009 20:52) Posted:
| Mermaid did not perform well this week , its share price has been contrained below the cross of the 10MA , 30MA n 55MA . Its directional movement index is negatively placed n ADX is at 14 which would be rising . Aroon indicator has shown bearish pattern which would lead to weak trend ahead in next week 's trading . I wish I have a wrong reading of the chart formation , now the chart has shown a completed H&S formation n pointing to a downside target of 57 cents . If not to materialize of this target , a quick n powerful soaring with huge volume above 55MA at 87 cents may void the above situation . |
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As mermaid failed to cross the 87 cents resistance during the recent surging , to reverse the downtrend looks impossible now . The 55MA has just started to head down above the share price . The moving average may push the share price to go further down , n the short term support is at 77.5 cents .
Bintang ( Date: 08-Dec-2009 17:46) Posted:
Mermaid must to soar with huge volume crossing 87 cents , then the down trend can be reversed .
Bintang ( Date: 04-Dec-2009 20:52) Posted:
| Mermaid did not perform well this week , its share price has been contrained below the cross of the 10MA , 30MA n 55MA . Its directional movement index is negatively placed n ADX is at 14 which would be rising . Aroon indicator has shown bearish pattern which would lead to weak trend ahead in next week 's trading . I wish I have a wrong reading of the chart formation , now the chart has shown a completed H&S formation n pointing to a downside target of 57 cents . If not to materialize of this target , a quick n powerful soaring with huge volume above 55MA at 87 cents may void the above situation . |
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It is up to you. We go into the market to maximise gains
This is one of the counter (which is less than $1) fluctuates a lot. So every fluctuation provides the opportunity to buy and sell. chris168 used that opportunity wisely.
Livermore ( Date: 11-Dec-2009 07:40) Posted:
In the end after you sell, it will go all the way up
chris168 ( Date: 10-Dec-2009 19:43) Posted:
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Yes, I do agree with you that it is not for everybody.
MER's share price fluctuate, bob up and down within a short span of time. These are opportunities .... at least for me .... in this case to recover the lost. |
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In the end after you sell, it will go all the way up
chris168 ( Date: 10-Dec-2009 19:43) Posted:
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Yes, I do agree with you that it is not for everybody.
MER's share price fluctuate, bob up and down within a short span of time. These are opportunities .... at least for me .... in this case to recover the lost.
Livermore ( Date: 10-Dec-2009 07:31) Posted:
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To me not advisable to overtrade in this manner. You make yourself totally confused. I am sure many who overtraded and sold and never bought back, find many of the stocks have risen so high they cannot buy back the same number of lots they sold at.I shall look at long term |
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