Stock code: 5257 Stock name: Carimin Petroleum Bhd Screener: 18LC for 4 Feb 2019 (tradevsa.com) Observation date: 5 Feb 2019
Section A Observation: a) Price & Volume: - Price: Narrow spread. - Volume: Low. b) Market Stage: - Accumulation stage (S1) between early Mar'18 - end Nov'18 (34 weeks). c) Trading Range: - Price trade within between 22sen & 35.5sen (Support 1 & 2). d) Resistance & Support: - Price tried to break Support 2 (then was Resistance) 2 times. - In Peak B (early Oct'18), vol. is higher than the Peak A (mid Apr'18).
Remarks: - Based on the above observation, price is ready to enter into Markup stage (S2).
Section B Observation: a) Price & Volume: - Price: Wide spread. - Volume: High (not climatic). b) Market Stage: - Markup stage (S2) from early Dec'18. c) Resistance & Support: - In Peak C (early Dec'18), price broke Support 2 (then was Resistance) with vol. higher than Peak B. - After that, price make a pullback above the Support 2 with low vol. This is a good SOS. - Price encounter UT and fall back to Support 2 line. Notice 2B reversal on 21 Dec'18. - Price eventually move up and make new high. This process repeat itself when it hit Support 4 (then Resistance).
Remarks: - Based on the above observation, price already in full gear for S2. - Currently, price is retracing (pullback). If the pullback succeed, we will make an entry.