Instaco (0069)

[johorphang]

End-Day Review & Analysis 24 May

VIVOCOM prices dipped to its decline-low of 30.0 sens on moderate selling and then rebounded to close the day unchanged at 31.0 sens.

Total volume increased marginally to 36.11 M shares.

As at the close today, the chart-picture has altered slightly to a neutral setting.

Two attempts to break below the 30.0 level were made over the last four sessions failed with prices rebounding marginally.

As such, we can consider the 30.0-31.sen level as the immediate chart-support level.

The immediate term trend would turn negative if they are violated in the next few sessions.

The Quantitative Algorithm signal finished the day negative.

 

[johorphang]

Mid-Day Review & Analysis 25 May

VIVOCOM closed the morning down one sen
at 30.0 as light selling-interests continued to dominate trading.

Total volume was low at 14.48 M shares. Bulk of morning trades were done at 30.5 sens where 13.93 M shares changed hands.

Technically, we are at the fourth-wave of the Elliot-wave count and this is confirmed by the Quantitative Algorithm trading signal.

The fourth-wave is a correctional or price adjustment phase following a strong upward move.

The bullish fifth-wave would come into play once this negative fourth-wave distribution process is completed.

Over the last five trading days, three unsuccessful attempts were made to break below the 30.0 level.

Good buying-support appears to be parked at the psychological 30.0 level.

If prices can stay at 30.0 or higher till the early part of next week, we can safely conclude that
the correctional fourth-wave has ended and those who needed to sell have done so.

With this kind of negative scenario, technical traders would say that at 30.0 sen, prices are in an oversold position and is a safe buying level.

In trading, things can change dramatically over a short period, from very bullish to very bearish.

Only people who can adapt quickly would benefit from the changes.

A technical price rebound from 30.0 could easily take prices higher to test it immediate resistance at the 33.0-34.0 levels .

In short, we have to patiently wait for clearer trading signals over the next few days to make a trading decision.

 

[johorphang]

Mid-Day Review& Analysis 27 May

VIVOCOM rose on a technical rebound after ten days of losses and closed the morning 1.5 sen higher.

Volume was moderate at 19.58 M shares. Buyers dominate the scene by taking sellers on 69.8% of the trades.

Is this the end of the 10-day old downward trend or is this just a knee-jerk reaction to a grossly over sold position?

Based on chart interpretation, what we are seeing now is the fourth-wave of the downward cycle, which is minor technical price rebound.
The last and fifth-wave is usually a downward wave that would mark the end of the bearish cycle.

The Quantitative Algorithm closed the morning in positive convergence and has yet to give a buy-signal.

 

[johorphang]

Mid-Day Review& Analysis 27 May

VIVOCOM rose on a technical rebound after ten days of losses and closed the morning 1.5 sen higher.

Volume was moderate at 19.58 M shares. Buyers dominate the scene by taking sellers on 69.8% of the trades.

Is this the end of the 10-day old downward trend or is this just a knee-jerk reaction to a grossly over sold position?

Based on chart interpretation, what we are seeing now is the fourth-wave of the downward cycle, which is minor technical price rebound.
The last and fifth-wave is usually a downward wave that would mark the end of the bearish cycle.

The Quantitative Algorithm closed the morning in positive convergence and has yet to give a buy-signal.

 

[johorphang]

 

[johorphang]

Mid-Day Review & Analysis 31 May

VIVOCOM edged higher to close half sen higher at 30.0 as buyers
turned aggressive on rumors of an impending announcement of a price moving news.

Total volume for the morning amounted to 17.57 M shares.

Bulk of the trades were done at 29.5-30.0 levels.

Buyers continued to show good buying volume support at the close this morning.

The Quantitative Algorithm signals are in strong positive convergence and are about to trigger the short-term buy signal.
Triggering of the buy-signal at close today would give confirmation of a minor trend reversal.

 

[johorphang]

http://www.financeasia.com/News/425100,nuclear-ipo-gets-strong-reaction-in-shanghai.aspx

 

[johorphang]

http://www.bernama.com/bernama/v8/bu/newsbusiness.php?id=1251259

 

[johorphang]

Mid-Day Review & Analysis 1st June

VIVOCOM ended a holiday-type of trading unchanged at 29.5 sens after thin trading.

News of MOU signing with China Nuclear had limited bullish impact as stale-bull liquidation continued in a small way judging from the extremely low volume of 7.45 M shares this morning.

Technically, we are still in congestion trading with prices hovering around 28.5 to 30.5 range.

This situation may persist for a while before a significant breakout occurs.

A break-out in either direction would determine the course of the immediate term trend.

Since prices are at the tail-end of the recently developed downward trend, prices are more likely to move up than down.

Based on the Quantitative Algorithm signal at close today, the sideways consolidation pattern would continue to expand.

 

[johorphang]