Worst over for SAAG? update

saag-chart If my wave reading is correct, the worst that can happen to SAAG is to go to previous low RM0.14. I believe so correction wave 2 (labeled blue on the chart) almost over, near to the previous low. That is  a very good correction.  Bullish wave 3 could start anytime.  Target over RM 0.40 for mid to long term holding, say several months. See the above SAAG weekly chart. click to enlarge.

The news that SAAG of RM406m power plant job awarded to SAAG should provide the break after a long downtrend. For this reason alone, there should be a short term play this week (07 dec).



For medium term holding, can wait for confirmation (up trend or breakout should tested). There are many investors stuck with it that are very eager to sell after a long period of downtrend. Can wait for correction (sub-wave 2) incase it surge up. Especially when the mid to longer term target is over RM0.40 cents.


short update : as close yesterday, the price is testing the recent low (if failed watch out for further downtrend). Potential to create bullish micro double bottom pattern but need strong confirmation by volume (as for now, the volume is weak).  Stock with very low price like this prone to be manipulated by syndicates ; not every trader's cup of tea.
saag-chart If my wave reading is correct, the worst that can happen to SAAG is to go to previous low RM0.14. I believe so correction wave 2 (labeled blue on the chart) almost over, near to the previous low. That is  a very good correction.  Bullish wave 3 could start anytime.  Target over RM 0.40 for mid to long term holding, say several months. See the above SAAG weekly chart. click to enlarge.

The news that SAAG of RM406m power plant job awarded to SAAG should provide the break after a long downtrend. For this reason alone, there should be a short term play this week (07 dec).



For medium term holding, can wait for confirmation (up trend or breakout should tested). There are many investors stuck with it that are very eager to sell after a long period of downtrend. Can wait for correction (sub-wave 2) incase it surge up. Especially when the mid to longer term target is over RM0.40 cents.


short update : as close yesterday, the price is testing the recent low (if failed watch out for further downtrend). Potential to create bullish micro double bottom pattern but need strong confirmation by volume (as for now, the volume is weak).  Stock with very low price like this prone to be manipulated by syndicates ; not every trader's cup of tea.

3 comments:

Benny said...

Free Online Technical Analysis Chart on SAAG

andy koh said...

Something wrong with this company.Directors must be sleeping.Interest of minority shareholders are not protected.I think as and oil and gas company,it's way,way too low price.Imagine from high of RM 0-39 to this level RM 0-08.OMG

Aree said...

You are right. The stocks plunged few days after it warrant conversion expired. My friend converted to share. My friend lost a lot after that.

Until today still no sign of recovering.