Disclaimer

Disclaimer - I'm too dumb to be an expert thus all the contents of this blog are just my random thoughts and may be incomplete or contain any informational errors. It is certainly not recommendation to buy or sell. You'll be responsible for your own decision. Please consult your investment consultants before making any investment decision. Also the author may or may not have position in the counters that mentioned in this blog.

Tuesday, 19 August 2014

Symphny - 2nd Wave in the making?


Chart : Symphny daily chart as of Aug 19 2014 (source: ChartNexus)

Symphny share price spiked from around 12 sen to peak at 30.5 sen immediately after it announcement of the propose RTO by Ranhill Energy end of March this year. The share price has seen retreated and hovering around 22 sen lately. After the 1st Wave, the counter took a long time to consolidate. Today the counter rose 2.5 sen or 11% to close at 25 sen with significant volume. There could be the sign of the start of second wave. Immediate horizontal resistance is at 27 sen, if the counter can break this resistance then there is a good chance the 2nd Wave will come and bring the stock to test its previous peak of 30.5 sen. Stay tune and ready to ride the wave!


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