I last talked about Glomac/Glomac-wa on 9 September 2009. I do not trade Glomac but i trade Glomac-wa. Here is the link to my previous on Glomac and Glomac-wa. (http://cathoon.blogspot.com/2009/09/glomac-berhad-glomac-wa.html)
Glomac-wa outperformed KLCI during the last 2 week. I bought Glomac-wa at RM0.30 on 8 September 2009 and now it is trading at RM0.375. It provides me with an unrealised profit of 25% within 3 weeks. This is really a good profit as most of the stocks in KLSE declined during the same period.
Last friday, Glomac-wa jumped 14%. I believe it was a pre-earning jump. Glomac is scheduled to released its quarterly financial report within the next few days. I expect it to be a good one and i guess most of the investors share the same view that Glomac would release a good quarterly financial result.
From both of the charts above, we can see that trading volume for both Glomac and Glomac-wa are starting to increase. What do i see here? Refering to what i said on my previous blog about Glomac/Glomac-wa, it is better that we trade Glomac/Glomac-wa by buying them when volume is thin and selling them when volume is high. I expect myself to close the trade when Glomac trading volume reaches 2 million like it was on 6th, 7th and 8th August 2009.
Last friday, Glomac-wa jumped 14%. I believe it was a pre-earning jump. Glomac is scheduled to released its quarterly financial report within the next few days. I expect it to be a good one and i guess most of the investors share the same view that Glomac would release a good quarterly financial result.
From both of the charts above, we can see that trading volume for both Glomac and Glomac-wa are starting to increase. What do i see here? Refering to what i said on my previous blog about Glomac/Glomac-wa, it is better that we trade Glomac/Glomac-wa by buying them when volume is thin and selling them when volume is high. I expect myself to close the trade when Glomac trading volume reaches 2 million like it was on 6th, 7th and 8th August 2009.
Both Glomac and Glomac-wa reach their resistance, I think a good quarterly financial would provide a significant catalyst to fuel Glomac/Glomac-wa to a greater height. From my humble opinion, i think the next resistance level would be RM1.28 for Glomac. After that, it would be RM1.46.
Ok, good luck in your trading.
GOon
My previous Glomac/Glomac-wa related post link
http://cathoon.blogspot.com/2009/09/glomac-berhad-glomac-wa.html
GOon,
ReplyDeleteYour last talked on Glomac, refer to 09/09/09 comments.
TQ
Winter chill
Thank you. I like reading your blog.
ReplyDeleteI follow you when you talked about glomac-wa and i bought it at RM0.30 and had just sold it at RM0.57 last few days. almost 100%
the best performance i have ever had.
Thank you. Thank you.