Wednesday, November 13, 2019

Penguin: Pushing higher over the past 2 months. Can there be more upside from here? Price 0.71


Just about 2 months back, we saw Penguin breaking the key 0.56 resistance level..


We had been trading below that level for about 4 months so any bullish move above could be a good signal of more upside to come..


Buyers managed to defend that level and it became a good support base for them to push higher..


Indicators were also pointing towards an uptrend taking shape nicely for this counter..


Hence, some target were drawn as seen below, to 0.65 first… see what I mean,




In about 2 week, we started pushing higher and target at 0.65 was nearing..


Target was reiterated again to 0.70 with the uptrend still intact..


There were some profit taking along the way but buyers were still holding well and not allowing price to push lower to where it was the previous week…


We call this forming higher highs daily which is a good sign of strength and momentum.


Short term moving averages were also bullish..




Fast forward to where we are now, we have seen some slight consolidation below 0.700 resistance over the past 3 weeks..


Support was shifted higher at 0.65 and that’s where it held on well..


The thing is, we have been awaiting further upside with a potential breakout above the 0.70 for the uptrend to continue..


Seems like we are seeing some bullish actions returning again over the past few days…


Which can see price pushing higher…


Looking at another 12% gain from new revised target at 0.80 now..


Quite a good run over the past 2 months indeed, but is it over?


Remains to be seen, but for now, looking good with it holding above 0.70 support… See where we are now…






Thursday, November 7, 2019

UMS: A decent upside reversal caught! Price 0.855. Is it over?


Just about 2 weeks back, we saw UMS heading towards the 0.700 psychological resistance level…


It had been trading below this key resistance for about 5 months so any move towards it bullishly will be something to note.


Our alerts were set and we were expecting some potential move up but just not sure when..


There were also some signs of the uptrend starting to form up and hence some targets were drawn…


That firm bullish move indeed came on 24th Oct 2019.. and targets were reiterated as seen…


All the way to 0.80 first…




Over the past week, we have seen our first target at 0.80 hit and there were some profit taking…


This is normal given the spike up we have seen.


But eventually, we managed to get pass 0.80 too and 2nd target to 0.90 was on tracked..


It then tried to hold above the new 0.80 support last week and target were reiterated as seen below…


Buyers were seen coming out on dips near 0.80…





Over the past few days, we have pushed higher, breaking temp 0.85 resistance as well..


Seems like it is taking a breather for now as we near the 0.90 firm resistance…


Still in watch list for now as we see if we can attempt a move above 0.90


Any bullish price actions spotted may give way to the next phase but for now, some consolidation expected with profit taking near 0.90…


Watching..


See where we are below….





Monday, November 4, 2019

Rex Intl: A good rebound caught! Price 0.113. Some upside possible before consolidation again.


Just 2 weeks back, we saw Rex Intl approaching the key 0.100 resistance cautiously..


This level was definitely one to watch as we had been consolidating below this level for more than a year..


Any firm bullish price actions near it would be very interesting for further upside to continue..


More importantly, there were also some signs of strength from the trend indicators as we head towards 0.100,


Hence, a potential break out was expected and targets drawn,


See what I mean below..


All the way to 0.120 which was another key resistance to watch… Looking at about 18.1 % gain from this target as seen from the chart below..




The firm bullish move indeed came last week after some profit taking near 0.100…


Sellers were out to take profit and hold down prices initially but they just could not hold on any longer when buyers just cleared out the levels from 0.100 – 0.103 fast..


Targets were reiterated again as it happen last week…


All the way to 0.120…


There was still some room to go for the upside though we may experience some slight profit taking along the way, near 0.110…





Over the past few days, we have broken the 0.110 temp resistance as well…


Looks set to head towards 0.120 where some good selling can return again..


Would be good for those who have rode the upside to protect any profits…


and also look to book profit as it approaches 0.120


Quite a good run seen and may still be playing out per current prices based on target drawn 2 weeks back… watching!