Another potential upmove? Frontken Corporation (0128.kl)

Stock code: 0128
Stock name: Frontken Corporation Bhd
Screener: 18LC for 7 Feb 2019 (www.tradevsa.com)
Observation date: 10 Feb 2019

Observation:
a) Price & Volume:
- Price: Mixed w/ wide spread on upbar.
- Volume: High vol on upbar.
b) Market Stage:
- Price may be in 2nd round of Accumulation (S1).
- This is after 27% markup from Support 1 within 2 weeks.
c) Trend Line:
- Price is currently moving within an Uptrend line with strong Sign of Strength (green arrow).
- It's trading range is between 79.5sen (old Resistance turn Support 2) to 89sen (new Resistance level).

Remarks:
There are 2 possibilities at this point of observation:
a) Price will do a pullback before moving up. To see this, it needs to break the Resistance level.
b) Price will move sideways (2nd round of S1) before continue its up move again.

评论:

Observation date: 12 Feb 2019

Observation:
a) Price has break Resistance and closed today on an upbar with high vol.
b) Price may either continue its up move or retrace back to the old Resistance line.

Remarks:
- The next few bars will be crucial to determine price direction.
- We will do paper trading once we see an edge.

评论:

Observation date: 19 Feb 2019

Observation:
a) Price has moved above the Resistance now turn Support 3.
b) We now see price is reaching the previous high @ 99.5sen which we shall now call Resistance 2.
c) In order to move up further, price would need to either:
- Break the Resistance 2 with high volume, OR
- Make a pullback before going for the kill (or break).

Remarks:
Based on the chart setup, we will be making partial entry based on my Trading Strategy below:

Trading Strategy:
- Capital: RM10k
- Entry Price: 95.5sen
- Stop-Loss: 92sen
- Share's buy: 3,100 (Based on RM3k).

We will continue observation and monitor on our trade.