Being in the market at all times is not the key to profits. Being in the market when there is a clear, unconfused technical signal during a strong market, and the trader's judgment is not swayed by emotion, is a method for trading success. No matter how good the fundamentals and technicals are, stocks will have a high risk of failure during weak markets.
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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