STI has been consolidating in the range of 3240 to 3320 for slightly more than a month from 24th Jan till now. Probably need a catalyst from the US markets to lift it above the 3320 resistance seen currently. A break above 3320 can see it test 3400 in the mid-term. As long as 3240 remains as a support for STI, we remain bullish. A breakout above the key resistance can see focus shifting from penny stocks to mid to large cap stocks.
Thursday, February 28, 2013
Wednesday, February 27, 2013
Short Term trading Buy: Contel Corp. Share price 0.103
Contel has surged above the critical 0.100 resistance and psychological level which it has been consolidating below for about a week. Currently at 2nd Top volume. Support remains at 0.100 now. High as at now is 0.109. As long as 0.100 hold as the new support, upside to between 0.11 and 0.14 seems possible, of course with consolidations in between. Look at the gap down it has formed in April last year from the 0.15 region. Possible to close this gap quickly on high volume. For short term trades, a break above 0.11 can see it push higher to find a new resistance.
Stop loss at 0.096 nevertheless.
Monday, February 25, 2013
Trading Buy: China Minzhong. Share price 1.225.
China Minzhong has broken above the high formed last week at 1.22. Today’s high at 1.23 currently. Momentum looks strong still on recent news of Alliance with Indofood.. Next immediate target at 1.30. A break above 1.30 can pave the way to 1.35 to 1.40 in the short term. Worth a short term trade. Support would be 1.22 then 1.20.
Stop loss at 1.17.
Thursday, February 21, 2013
Breakout for GSH. Share price 0.123. Potential trade setup.
Press release on GSH today - Lippo and private equity fund, SkyVen, subscribe 395 million shares in GSH Corp for $37.5 million. Has broken above the consolidation phase of 0.110. Has been trading side since April last year till today. A clear breakout seen today on new shares placement agreement. TOP volume seen currently. Support remains at 0.11 strongly for the longer term investors. Opened at 0.122 today on gapped up.
More upside possible, immediate target to 0.130 psychological resistance level. A break above 0.130 can see it go up to 0.14 to 0.16. Note that the High in April last year was 0.158. A pretty decent gap to close.
Stop loss at 0.118
Monday, February 18, 2013
Short Term Trading Buy: Healthway. Share price 0.101.
Has been trading in the range of 0.08 to 0.100 from June 2011 till now. Have tested the 0.100 Key resistance today and cleared it. More upside certainly if it manage to stay above the new support level.
Today’s high at 0.103.. Top 5 volume seen currently. As long as 0.100 holds as the new support level, possible to head higher to 0.125 to 0.13 level. Look at the potential upside gap it can fill it manages to stay above 0.100.
Stop loss at 0.096 nevertheless.
Friday, February 15, 2013
Trading Buy: Ying Li. Share Price 0.505.
Ying Li has broken out of it consolidation phase. Now at 0.505. As long as 0.500 remains as the new support level, can see it go higher in the short term. Target 0.55 to 0.60 possible. Was trading in the range of 0.46 to 0.49 for about more than 2 weeks before breaking out today. A positive signal would be if it closes above 0.500 today.
Stop loss at 0.485
Stop loss at 0.485
Short term Trading Buy: Ipco. Share price 0.036.
Has broken out yesterday on Strong volume above the critical 0.03 resistance and psychological level. Penny interest currently seen in the market. Only for the brave hearted. Immediate resistance to cross is 0.04. A break above 0.04 can really see it go higher very quickly to probably 0.05 to 0.055. Top Volume currently seen. For those who are looking to take a longer term approach, immediate support stands at 0.03 now. If support does not hold, please consider to cut losses.
Tight stop loss at 0.033.
Tight stop loss at 0.033.
Thursday, February 14, 2013
Short Term Trading Buy: Stratech. Share price at 0.024
Has been trading below the 0.023 critical resistance level from May last Year till now. Tested a total of 8 times before breaking out today. A very short term trade to ride on the penny stocks interest.
A strict stop loss 0.021. As long as 0.023 remains as the new support level, possible to head higher to test 0.0300. A break above 0.03 can pave the way to 0.036 which was the high set in April last year. Top 30 volume seen currently.
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