Sunday, December 2, 2012

Padini(7052, Consumer Products) and others stocks are staging a rebound?

Meta Stock is one of the best investment software in the US. Over the weekend, it picked up 38 stocks which gave trading opportunities.

One of the stocks is Padini. Padini came down from the high of 2.37 on August 24, 2012 which was 98 days ago.  There were at least three rebound in between this period.  The recent top was 2.04 on Nov 20, 2012 and that was 8 trading days ago.

Last Friday, i.e. on Nov 30, 2012,  it was closed at 1.75.  The Japanese candle stick showed that there was some selling pressure for the stock when it tried to stage a rebound.

 If you were to draw a support line, you will see it touches June 11, 2012's low of 1.70. At that time, the stock staged a rebound to hit the target of 1.94 on June 21, 2012 just within 9 trading days.

This is to say, if the history repeated itself, the stock will hit 1.94 within a few days.

If you were to buy 10,000 shares at 1.75(Nov 30's closing price) and sell at 1.94(target price), you can make a profit of RM 1629.53 and your rate of return is 9.31 percent which is better than the bank.

There are many other stocks having the same pattern.


                                          The chart for Padini(7052)




1 comment:

  1. Hi there, Are you still losing? I`m using the first ever U.S.A.patented Forex striker that destroys brokers and makes cash everyday. Pls visit my Forex striker Review and discover how i earned almost $18,000 in less than a month.

    ReplyDelete