The index keeps going down and we're still waiting it to bounce with the target low around 4275, which is quite close now, from there we want it to be bounced back to the high soon. But, we have no control of it, just hope for the best and put your stop losses :).
There are a lot of stocks that was affected by the BI rate hike, like property, automotive, cements, etc. One of them is TOTL, which declined sharply around 68% from its high at 1700 at the end of May and met the low at the beginning of September. We see that this stock has a chance to be back in action, as it has gone up around 40% since the low.
The volume is being accumulated and also we see that there's a cup and handle formation that might be a good shape in the stock. The recenet accumulation of the stock and the consolidation might bring a break out soon, once it has been broken out, we might see a prospective movement of the stock.
Rating: Buy on Break; Entry: 870-880, S/L: 700-710, TP: 1050-1250
Happy Investing^^
Disclaimer ON!!!
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