Technical Analysis Of George Kent (Malaysia) Bhd

Just like Superman (Clark Kent), this stock George Kent seems to be soaring high into the sky like it's brother. After going up 30,000 feet, will it continue to move higher?

All indications seem to point to a bullish bias.

A stock that is in an uptrend tends to go higher and higher and higher surprising many people. Anyway, let's take a look at what the charts are telling us.

Technical Analysis Of George Kent (February 19 2018)

Much has happened since I last look at George Kent. But true to trend following, this stocks still remains bullish and in an uptrend. Each stock will have its own behavior and this is one that trends higher slowly. Going up a few days and then going back down.

Can be quite frustrating for the investor but nevertheless is interesting for the swing trader. They can buy low and sell higher a few days later. Which is why some rallies needed to be sold a bit early for the swing trader.

George Kent is still above its rising 50 MA and 200 MA and therefore the mid to long term investor in this stock should still remain bullish.

There are quite a lot of swing trade setups in this stock. The latest ones were ascending triangles, 50 MA support and break a short term trendline which you can see clearer in the 60 min chart. All these presents a swing trading opportunity albeit a short one to the sharp eyed trader.

For those who invest, stay put till the trend changes. For those who trade, try to look for swing opportunities selling them a few days later.

Technical Analysis Of George Kent (January 29 2018)

The chart above is the daily chart of George Kent.

It had been in an uptrend for a very long time. With the stock staying above the rising 200 MA, this stock is in a bullish state for the long term.

If you look carefully at the volume which is below the price, you will see lots of volume spike in this stock. This tells us that the stock is being accumulated by investors. There is lots of buying interest in the stock which is why it keeps going higher and higher and higher.

Volume is extremely important to spot a stock that will shoot up higher. That is why you should pay attention to unusual volume in your stock. Combine it with the fact that a stock is in an uptrend, you will get a recipe for a winning stock.

I explain more about how volume affects stock in Chapter 3 of my Trading Course.

Recently, the stock broke out of two small ascending triangles in the daily chart.

This gave short term and mid term traders an opportunity to buy and participate in its ride up. Mid term investors should stay bullish on this stock as long as it trades above the daily rising 20 MA and 50 MA.

Next, let us have a look at the weekly chart of George Kent.

The stock has more than met its weekly measured move target. I usually try to take some profits when a stock meet its measured move in the daily chart or even the 60 min chart. But since this stock is in an uptrend, investors can be a bit slow to take profits.

There is no sign of trend change in the daily chart so trend followers and longer term investors should continue to stay bullish on the stock. It is almost impossible to catch the exact top in a stock but some trend following method will help you to capture the majority of a move.

Even in the weekly chart, we can see the presence of a weekly ascending triangle. Some will see it as a break above a weekly box. It does not matter. Those continuation patterns gave long term investors an opportunity to add to the stock.

For those who are holding this stock for the long term, you will need some kind of trend following system to capture the uptrend moves. As long as the stock stays above the rising weekly 20 MA and 50 MA you should be bullish. Be cautious if it starts to drop below any one of them.

Let me now cover the short term picture by looking at the 60 min chart of George Kent.

The last continuation pattern in the 60 min chart was a 60 min box breakout. The stock met its 60 min measured move target and hence the correction. As long as George Kent can stay above this 60 min box, then we can assume that the stock will continue to drift higher.

Alternatively, you can use the 60 min rising 50 MA to capture the short term trend of the stock.

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