Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study


Friday, January 15, 2010

Adventa (7191.KU) at Buy

Maybank Investment Bank Research rates Adventa (7191.KU) at Buy based on charts for long-term target of MYR6.10; notes glove maker made major Wave 2 low of 90-sen in July 2009, with grossly oversold signals. "The stock is in a firm Wave 3 uptrend, confirmed by the positive crossover from the CCI, DMI, MACD, Stochastic and Oscillator indicators," says chartist Lee Cheng Hooi; notes stock broke all-time high of MYR3.91 and has potential to move up toward MYR4.98, then MYR6.10. Pegs support at MYR3.88, then MYR3.42, with stop-loss at MYR3.40. Stock last +3.4% at MYR4.01. (ECH)

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