SILKHLD: 24 February 2014, Monday, 11.51pm Singapore Time
Chart courtesy of Chartnexus.com
Some die hard fans of Donovan Norfolk Ang's Market Analysis specially requested for the technical analysis of SILKHLD. Since there are numerous strong requests, so here you are:
Helicopter Don is raining money once again.
Attached above is the chart of SILKHLD. The 2 PINK RECTANGULAR BOXES represent the collection/accumulation zones by the big hands and smart money dealing with this stock. Collection Zone 1 occurred in entire 2011 followed by a mark-up on improved fundamentals. Further collection/accumulation were executed at Collection Zone 2 as highlighted above.
Collection Zone 2 spanned across entire 2012 and 2013. This would enable subsequent up-moves to be sustainable. This is why the furious pump-up at the start of 2014 for SILKHLD is to be sustainable for more pump-ups until target above is reached.
SILKHLD will now start to enter initial stage of distribution. From current point of 67.5cents, this stock will execute another upthrust to 96cents. Based on the price structure above of SILKHLD, Big Hands are still in this stock and have not exited yet. Hence, the next further upthrust to hit 96 cents will come. This price satisfaction zone of 96cents will roughly coincide with the ORANGE RESISTANCE LINE of the Up-Channel as charted above.
From current point of 67.5cents to the target of 96cents, this represents an upside of +49.8% profits without any leverage.
For those who have no chance to trade SILKHLD, well, just treat this as a revision of materials and a delve into Donovan Norfolk Ang's precious thought processes.
Helicopter Don is raining free money once again...
Donovan Norfolk Ang Technical Rating:
Bullish
with upside of +49.8% from here towards 96cents target
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