Takeover exercise offers opportunity?

Oriental Food Industries may be bottom forming now

The chart above is captured from Chartnexus for Oriental Food on 10th November 2010.
There are two vertical lines showing the two peaks (higher high) showing an uptrend.
These two peaks are formed about six (6) months apart. [first peak on 13th January 2010 and the second higher peak on 23 July 2010]

Another set of Fibonacci Retracement lines are inserted to guage the current state of correction.
If we take the last upswing to start from 25th May 2010 (0% at 1.38) to 23.July 2010 (100% at 2.19) the current (10th November 2010)  Fibonacci Retracement level is about 38.2%.

My  guess is as follows:
1. Possibly the current level is the bottom building stage. However if this fails to hold the next  Fibonacci Retracement level is at 23.6% and it sits at 1.57 (price level)
2. If this bottom building take about six (6) months, the next peak may occur around January 2011.
3. So if you believe that this study is of any value, it will be profitable to accumulate at this level (~ 1.70) and sell your accumulation of this counter sometime in January 2011 at a higher level.
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Written by Lee Huong Sing

Take a look at AEON

The chart above is from Chartnexus taken on 2nd November 2010

The counter under review is AEON.

Malaysian Stock Market has done well this year with FBMKLCI overshooting 1500 level. With this high level it is getting more difficult to trade profitably as the risk factor gets bigger.. .
I have a look at AEON today and found that it started to trend up from 27th August 2010 starting a around 5.10 level. It went on to form a short-term double-top on 1st October 2010 and 6th October 2010 at 6.10. On 7th October 2010 a was big sell down, probably by a big investor. Since then it goes downtrend.
Checking with Fibonacci retracement at 50% the price is at 5.56. It has since pierced through and currently trading around 5.50.  The next Fibonacci retracenment of 38.2% is at 5.43.

With this analysis I believe that it is now at bottom building stage. It may be a profitable move to accumulate at this level or lower and hopefully that it turn in a profit on selling at a higher level in one or two months from now.
This is my personal view and if you trade using my view I wish you best of luck.

Lee Huong Sing