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Earlier Market Commentary July 3rd Week Posted In Millionpreneur

Market Commentary

14th July 3rd Week

chart banner gold Earlier Market Commentary July 3rd Week Posted In Millionpreneur
 

Genting Malaysia is rumored to buy over DaMaChai, it is awarded Britain’s casino license. News is frequent but share price does not rebound to higher high, what is the reason?

Good news is bad news, bad news is good news. No news is good news. In stock investment, we must go against the norm, to digest the news in the market.

According to our long term investment experiences, news is one best “indicator”. The moment news is being published, it is the best alert signal, our mental antenna must be in full capacity and returning to the chart for analysis.

Based on the analysis using ‘Millionpreneur Forecasting Software’, using the extreme low of 1.84 to do forecasting with Price to Price technique, we observe two critical Zi Wu line price, i.e. 2.79 & 3.95. At the previous uptrend wave, it went side way when it hit 2.79, resistance level. It remains sideway for a period then only breaking through to reach higher high.

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No matter how good the news is announced, the current uptrend wave has reached 3.95, Zi Wu line resistance level. It will encounter difficulty to breakthrough and reach higher high. In other words, when the price hits 3.95 – 3.42, profit taking is a normal practice.

Based on fundamental analysis, Genting Malaysia is worth the attention. Purely based on technical analysis, we could consider cumulating position at 3.35.

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Previously, 2.90 – 3.00 is the strong resistance level before price breaking through. When it break above this resistance level, the previous resistance level becomes the strong and critical support. Therefore, 2.90 is the best buy price too.

When breakthrough 4.4, it is forecasted to be strong uptrend. Otherwise, it will range 2.90 – 4.00 where it poses little attraction.

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David Yap

Founder & Master Coach

Oriental Master Code & Millionpreneur Investment Community

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Oriental Capital Investment Limited (HK)

OrientalCap Corporation Sdn Bhd (ML)

Hong Kong +(852) 6629 7559 // Malaysia: +(60) 016 2067559

Email: enquiry@davidyap.net // Website: http://www.davidyap.net

 

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