Today HSi hit a small pivot to have a weak bounce and STi reacted - sending many pennies up ... esp Mynamar plays.. Interestingly, 2 bluechip telco stocks Singtel & Starhub also went up by a strong 6-7c giving the STi a boost over a non performing HSi..
Actually many pennies had broken out of accumulation since 10 -11 days ago - while some pulled back somewhat, some are on a steady run like Myanmese oil/gas play Interra which is about to hit my short-term target of 50c where I expect a downward reaction.. However, as Interra was not on my watchlist previously , I am more than happy to miss its fierce run.
One Myanmese penny that has not run but was in consolidation pattern for past 15 days was Yoma and i was watching it like a hawk yesterday and today as I expected a penny run this week .. I had expected Yoma to have a late start compared to other pennies as there is an overhang of shares that has to be absorbed from the public who subscribed to right shares which was just released for trading on 2 jul or last mon..
Throughout this morning , the transacted volume was quite low , at most 500 lots per trade ...
At 1438 hrs some operator whacked 5,500lots at 38c and yoma never looked back after that despite a weak HSi , closing at dayhigh of 41.5c.. I managed to enter at 39c in 2 trades( see below order book) .... I expect a down reaction at 42-42.5c - see below chart .
Actually many pennies had broken out of accumulation since 10 -11 days ago - while some pulled back somewhat, some are on a steady run like Myanmese oil/gas play Interra which is about to hit my short-term target of 50c where I expect a downward reaction.. However, as Interra was not on my watchlist previously , I am more than happy to miss its fierce run.
Throughout this morning , the transacted volume was quite low , at most 500 lots per trade ...
At 1438 hrs some operator whacked 5,500lots at 38c and yoma never looked back after that despite a weak HSi , closing at dayhigh of 41.5c.. I managed to enter at 39c in 2 trades( see below order book) .... I expect a down reaction at 42-42.5c - see below chart .
3 comments:
Hi, just curious if you've sold or still holding on to your earlier Yoma purchase at 0.39?
Hi Steve, I have sold 200 lots ( or 2/3) of my yoma at 42c on 11 jul when it hit my reaction level at 42-42.5c bid/ask ( see yoma chart above with the orange dotted line at 42.5c and little blue arrows bouncing off that line .... ) . Regards.
Thanks Bill. It is now about the same price. Tempted to go in or do u think I should wait for further pullback?
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