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Updated section for everyone to comment together and learn :)) Posted an hour ago :Officially started my journey on SCIB . Left Kpower yesterday at a thin profit margin. SCIB has been on a tremendous growth , and it’s order book has been fascinating and appealing to me :)) Bought 10 lots at 2.85 :)) Cheers and happy trading everybody !! Ended my investment on 17/8/2020
Good afternoon Sea , Q2 results may not be too ideal (I may be wrong and inaccurate), but I wouldn’t be too worry since MCO affected much of their operations. Hoping that the revival of mega projects in Sarawak could add some potential boost to them :))
Good evening Poh, how do you verify a bearish engulfing pattern ? Because you see at 15th and 16th July candlestick, it's a bearish engulfing pattern and sure enough on the 17th, price goes lower. I may be wrong , do share what do you thin. Cheers and thanks :))
16 and 17th cant count as the pattern, i will juz take it as normal retracement..and scib is now on retracement also.. overall it still on uptrend line so it has the high chance go higher tmr...let see ;)
Good evening Zhikang ,yep my cut loss was triggered already at 2.70 when it dropped today . Probably some bearish market sentiment. Regardless good trade and will look back into it when an uptrend momentum is signalled :)) cheers
Good evening ES Teo , sadly to say yes , my cut loss was triggered. While I do agree that SCIB is a good stock but I myself have always set a cut loss point for all the stocks I buy. No one is a god in the stock market, and we can’t predict its future movement. Let’s say that the stock has gone lower than 2.70 and stay below that level till closing , what would you say then ? Well for me, I would say I’m Glad that I had a cut loss trigerred earlier. And if it goes back to 2.70 and higher, I would tell myself that’s a good trade and I would revisit to the counter when an uptrend momentum is triggered :)) Regardless , cheers and have a great day ahead :))
Hi Liang, I monitored SCIB for few days and noticed it’s short term support is around RM 2.85 to RM2.88 ish range (I may be wrong and inaccurate) and therefore I entered at RM2.85. And based on my entry price of 2.85, I had set a 0.15 cents cut loss. For stocks that are 3 dollars and below, my cut loss is .15 cents, for stocks that are 8 and below my cut loss is .30 cents. Hope this clarifies :))
Good evening ES Teo, well for your case, your average price is low, so short term fluctuations doesn't matter. However, for my case, my average price is on the high side at that point of writing, and I am more towards a short-term trader for certain stocks in my basket. Coupled with my limited funds, I couldn't afford to average down multiple times. Therefore, cut loss is ideal for me :)) Nevertheless, I am revisiting it very soon, stay tuned !!
SCIB has been rather flat over these few days ,ranging around 2.62 ish to 2.77 ish , overall would say it’s still sustaining well :)) Hope there’s some catalyst to push up its price :))
MEDIA STATEMENT
MALAYSIA ECONOMIC PERFORMANCE IN THE SECOND QUARTER OF 2020
*GDP contracted 17.1 per cent* in the second quarter of 2020
PUTRAJAYA, 14 August 2020 – The Department of Statistics, Malaysia released the Gross Domestic Product (GDP) for the second quarter of 2020 (Q2 2020), which presents the overall performance of Malaysia’s economy.
Malaysia’s GDP contracted 17.1 per cent from a marginal growth of 0.7 per cent in the first quarter of 2020. The performance for this quarter was the lowest recorded since the fourth quarter of 1998 (-11.2%). On the production side, all sectors recorded a negative growth with the exception for Agriculture sector. Services and Manufacturing sectors were recorded a negative 16.2 per cent and 18.3 per cent respectively. Construction sector plummeted 44.5 per cent while Mining & quarrying declined 20.0 per cent. On the demand side, all final demand components declined except for Government final consumption expenditure which recorded a positive growth of 2.3 per cent. Private final consumption expenditure decreased 18.5 per cent, Gross fixed capital formation contracted 28.9 per cent, Exports dropped 21.7 per cent while Imports declined 19.7 per cent.
