Ichimoku Case Study : PALM Inc. (PALM)

Palm provide one of the best case study for Ichimoku as a trend trading tool.

If you have gotten the stock back in end 2008 or early 2009, you will have ride it to the top at around $17 from somewhere between $3 or $6.

Here’s one for the bearish trade. Do note that it is used for trend trading.

Continue reading Ichimoku Case Study : PALM Inc. (PALM)

Sinovac Biotech Ltd (SVA) : Review of My SVA Trade

I was looking for a play on H1N1 and found an entry in SVA.

This trade was done with a shorter time frame in mind, hence I did not use the usual Ichimoku trend trading techniques.

One of the key things that I have done is to always have a stop-loss or trailing stop in place.

In this case, my stop was taken out on November 13 when the price goes below the high of the previous day and the trading range is getting smaller (a sign that a reversal is coming or it could just be profit taking before earnings announcement).

Trade entry:

– Date : Oct 22

– Price : 7.56

– Reason : Bounced off support at 7.06

Exit Pts

– Date : Nov 13

– Price : 9.65

– Reason : Trigger stop. Price lower than previous day’s high. Narrow trading range

Profit : (9.65 – 7.56) = $2.09 per share.

Number of Days hold : Around 3 weeks.

Note:

Having said the above, with earnings results out, SVA chart is showing that it is now above the kumo support; a bullish signal. However, the kumo is very thin and may be a very weak support.

I will continue to monitor SVA. Let’s see if it continues falling today.

2009Nov-Sinovac Biotech Ltd Ord-800x600

A Review of Trend Trading with Ichimoku on PALM

Here’s a review of how I have traded PALM using Ichimoku.

I will provide 2 set of entry and exit prices. You should be able to identify a 3rd set of entry and exit (which will not result in much profit).

1. Entry 1 (Jan 8, 2009)

– PALM gap up on news of Elevation Partners investing in it.

– The chart shows the price and Tenkan sen, Kijun sen going above the kumo

– Let’s assume we got in at the high of the day at 6.58 (Day 1)

– Subsequent days did not go below the low of Day 1, so we are not stop out.

2. Exit 1 (Feb 27, 2009)

– Tenkan sen – Kijun sen has a bearish cross

– We assume we get out at the low of the day at 7.124

– Profit = (7.124 – 6.58) = 0.544 per share

3. Entry 2 (March 23, 2009)

– Tenkan sen – Kijun sen Bullish cross

– Price also rebound off kumo support

– Get in on March 24 after the price has cleared the resistance at around 8.69 , entry price is 8.75

4.  Exit 2 (July 23, 2009)

– Tenkan sen – Kijun sen Bearish cross

– Get out at 13.71 (low of day)

– Profit = (13.71 – 8.75) = 4.96 per share

So, total profit is $5.50 per share (from the 2 trades)

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