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My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

9/17/2013

HMI -- Spur of the moment

I was going through my homework for today and came across a counter called HMI. This counter has one of the strong percentage gain and went into the top 10 list. So it got me interested.

 

I opened up the chart for HMI and to my surprise this is a very volatile counter. It is not just the wave as a whole, even on daily basis it contain huge fluctuation. Certainly if I am into this counter, it will give me heart attack.

I first looked at what it did today which turns out to be a very strong push up-ward. Then I move to its past movements and noted that it is definitely not the first time this counter having this kind of spike.

Minus away the movement before 2003 which I would consider time needed for it to stabilize before it starts a life on its own. I think this counter is on the 3 counter wave and likely completing B, it should be going down with C.

The other view however, shows a double bottom in progress and it is completing the second bottom. Its neckline and resistance @ 0.20. This is not so likely for me as I found that the up-ward movement does not come with a 5-wave pattern. The minor counter waves overlap each other.

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