Q &A : SKP Resources 7155

by Tom Ek
(KL)

hi sifu ,

1st want to thank you for your TA on ocncash. i hv learned alot from your stock market course also.

Pls comment on skpres, i spot the bottoming tail on weekly chart but no buy signal on daily or hourly. How should i decide on buying.

I like this stock as it a uptrending & good fundamental. The strenghtening ringgit will benefit the co as well.

Thank you very much

Tom Ek

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Jan 20, 2018
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starstarstarstarstar 		Cup And Handle In 60 Min Charts Might Be Developing
by: Stephen

Hi,

I think I will do an in depth analysis on it like the rest of the stocks soon.

At the moment, I am filled with other requests from Telegram Group.

But to answer your question, the stock has broken a nice uptrend and cut through the 50 MA. Therefore, the daily uptrend is in question.

I do not know whether the sell off has finished and whether it will rebound higher to the old highs yet.

So, I look at the 60 min chart and saw some kind of cup and handle pattern.

It would be great if the stock can go back above the 60 min 50 MA and above 2.06.

That is also where it will break a longer trend line.

If stock drops below 1.95 it might continue lower.

To buy this stock right now will require a trading strategy that captures the volatility of the stock. Some kind of hit and run trading strategy instead of a trending type of strategy.

Hope this helps.

I will try and do an indepth analysis on it soon.

Stephen

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