Stock code: 3379
Stock name: Insas Bhd
Screener: 18LC for 15 Feb 2019 (www.tradevsa.com)
Observation date: 16 Feb 2019
Observation:
a) Price & Volume:
- Price: Wide spread during both downbar and upbar.
- Volume: Low during Downtrend. Gradually increase when price move up since Jan'19.
b) Market Stage:
- End of Markdown stage (S4) and beginning of Accumulation stage (S1).
c) Trading Range:
- Price was trading on a Downtrend since Jul'18 till end Jan'19.
- Price eventually broke above the Downtrend line on the 2nd week of Feb'19.
d) Resistance & Support:
- At the same time when price broke above the Downtrend line, it broke Support Line 2 (then Resistance).
- Now it has broken Resistance Line 1. The next few bars will determine price direction.
Remarks:
- To continue its upmove further, price would need to either make a pullback or move sideways.
- However, the volume on 15 Feb'19 is somewhat climatic. (www.tradingview.com/x/FSXZwzxM/)
- As such, a trader would need to be cautious if making a trade.
- For trade, we will make partial entry (look at Trading Strategy section below).
Trading Strategy:
With capital of RM10k, I will make partial entry (1/3). My trading plan as follows:
- Entry price: 87.0sen
- Stop loss: 82.0sen
- Partial entry (First RM4k): 450 lots (4.5k shares).
Stock name: Insas Bhd
Screener: 18LC for 15 Feb 2019 (www.tradevsa.com)
Observation date: 16 Feb 2019
Observation:
a) Price & Volume:
- Price: Wide spread during both downbar and upbar.
- Volume: Low during Downtrend. Gradually increase when price move up since Jan'19.
b) Market Stage:
- End of Markdown stage (S4) and beginning of Accumulation stage (S1).
c) Trading Range:
- Price was trading on a Downtrend since Jul'18 till end Jan'19.
- Price eventually broke above the Downtrend line on the 2nd week of Feb'19.
d) Resistance & Support:
- At the same time when price broke above the Downtrend line, it broke Support Line 2 (then Resistance).
- Now it has broken Resistance Line 1. The next few bars will determine price direction.
Remarks:
- To continue its upmove further, price would need to either make a pullback or move sideways.
- However, the volume on 15 Feb'19 is somewhat climatic. (www.tradingview.com/x/FSXZwzxM/)
- As such, a trader would need to be cautious if making a trade.
- For trade, we will make partial entry (look at Trading Strategy section below).
Trading Strategy:
With capital of RM10k, I will make partial entry (1/3). My trading plan as follows:
- Entry price: 87.0sen
- Stop loss: 82.0sen
- Partial entry (First RM4k): 450 lots (4.5k shares).