Highlights

Bursa Master

Author: BURSAMASTER   |   Latest post: Sat, 21 Nov 2020, 12:11 PM

 

MTOUCHE - MY OBSERVATION ON THE TRADING PATTERNS OF THIS POTENTIAL MOMENTUM COUNTER.

Author:   |    Publish date:


MY OBSERVATION ON THE TRADING PATTERNS OF THIS POTENTIAL MOMENTUM COUNTER.

Counter: MTOUCHE ( Code: MTOUCHE TECHNOLOGY BHD,
Telecommunications & Media, ACE Market)

 

I have been diligently following the trading pattern of MTOUCHE for the past week or so since it is in the same "stable" or connected to common person/s to some “super penny stocks” which had made a massive run-up in term of price & volume that has contributed significantly to Bursa Malaysia total daily volume

I noticed some peculiar & interesting trading patterns which suggested very heavy collections at a single price level of 0.070 for several days BUT most importantly it closed at a breakout of this 0.070 level at 0.075 on Friday, 17 July 2020.

Let's further study the collection pattern at 0.070 for the past one week days :

MTOUCHE - TRANSACTION DONE 13 TO 17 JULY 2020  
PRICE 13-Jul 14-Jul 15-Jul 16-Jul 17-Jul
0.065 0 0 3,336,100 695,700 579,000
0.070 2,228,800 13,744,900 19,446,700 62,253,600 43,385,900
0.075 39,193,000 9,012,200 219,400 695,700 1,662,000
0.080 3,375,600 0 0 0 0
T. VOLUME 44,797,400 22,757,100 23,002,200 63,464,200 45,626,900
%  AT 0.070 4.980 58.700 81.700 93.440 92.720
           
           

 



For the past week or so, market was ignited with the run up of super penny stocks which has registered gains of more than 100% in a few days and a few counters registered a more than 100% gain in a single day.

Let's us relook at a few super penny counters which are in the same "stable" :-

SUPER PENNY COUNTERS IN SAME "STABLE"  
COUNTERS DATE LOWEST PRICE DATE HIGHEST PRICE % Increase
PDZ 1-Jul 0.040 13-Jul 0.325 700
           
DGB 1-Jul 0.020 17-Jul 0.070 250
           
INIX 1-Jul 0.050 17-Jul 0.140 180
           
FINTEC 1-Jul 0.065 9-Jul 0.120 85
           
MLAB 3-Jul 0.030 9-Jul 0.065 117
           
KGROUP 1-Jul 0.060 13-Jul 0.090 50
           
XOX 15-Jul 0.060 17-Jul 0.165 250

 

All the above counters has generated huge volumes which contributed very significantly to the record high volumes on Bursa Malaysia and in the same "stable" or person/s connected somehow or rather.

TECHNICAL VIEW:

THE SUPPORT & RESISTANCE LEVEL OF MTOUCHE ARE 0.065 & 0.080 RESPECTIVELY. THE MACD IS ABOVE THE CENTRELINE INDICATING SOME DEGREE OF STRENGTH IN THE PRICE MOVEMENT. LET SEE WHETHER THE ENTHUSIASM OF MARKET PLAYERS WILL CARRY IT PAST ITS RESISTANCE OF 0.080 FORBEARING ANY ADVERSE MARKET CONDITIONS.

 

 

CONCLUSION:

  1.   LIMITED DOWNSIDE
  2.   HEAVY COLLECTIONS SEEN AT 0.070
  3.   Strong support at 0.065 with over 76 million (355 transactions) parked to buy at 0.065
  4.   I ALWAYS SUBSCIBED TO THE  BELIEVE IN LOOKING FOR COUNTERS WITH MINIMAL DOWNSIDE RISK RATHER THAN CHASING THOSE THAT HAVE MOVE UP SIGNIFICANTLY.

 

https://klse.i3investor.com/blogs/healthcare/2020-04-15-story-h1505986564.jsp

 

TheEdge Mon, Jul 06, 2020 02:00pm - 5 days ago


INVESTORS are drawn to technology stocks because of their bigger growth potential in an era of increasing digitisation, automation and artificial intelligence.

Dividends tend to be secondary as, historically, technology companies are expected to reinvest their earnings into growth initiatives to drive further expansion.

A closer look at Bursa Malaysia reveals that there are a handful of tech or tech-related stocks that offer higher yields, particularly now that fixed deposit rates are measly following the central bank’s paring of the overnight policy rate to a 10-year low of 2%.

 

https://www.klsescreener.com/v2/news/view/698273

https://klse.i3investor.com/blogs/Bursa_Master/2020-07-12-story-h1509679682-WILL_THIS_COUNTER_BENEFITS_FROM_THE_CURRENT_TECH_RUN_UP_COVID_19_PANDEM.jsp

 

LET’S SEE HOW THE SHARE PRICE MOVEMENT IN THE NEAR FUTURE FORBEARING ANY GOOD CORPORATE NEWS.

Disclaimer : The above opinion is never intended to be a BUY CALL whatsoever. I am sharing my observations ONLY based on fundamental; past history; current trading pattern; charts etc. Please make your own informed decision before buying this share or whatever share for that matter.

BURSAMASTER

 

Share this
Labels: MTOUCHE

Related Stocks

Chart Stock Name Last Change Volume 
MTOUCHE 0.08 +0.01 (14.29%) 96,578,900 

  noobtraders likes this.
 
mf SINGAPORE: Singapore reported 257 new COVID-19 cases as of noon on Sunday (Jul 19), with eight infections in the community, said the Ministry of Health (MOH).

This brings the total number of cases in the country to 47,912.
19/07/2020 3:30 PM
sensonic I WILL BUY 1000 LOT TOMORROW.
19/07/2020 9:56 PM
lextcs this touchy is same same category as mlab n netx...buyers and sellers can change in a whisker... don't TOUCHE this one.
20/07/2020 8:51 AM


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View Trading Signals and run Live Backtest
MQ Affiliate
Earn rewards with MQ Affiliate Program
 
 

563  481  588  543 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 EAH 0.03-0.005 
 SAPNRG 0.125+0.01 
 AT 0.17+0.015 
 KGROUP-WC 0.020.00 
 KANGER 0.180.00 
 ARMADA 0.29+0.02 
 KGROUP 0.0550.00 
 VSOLAR 0.0450.00 
 KNM 0.21+0.015 
 HIBISCS 0.62+0.03 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
PARTNERS & BROKERS