Technical Update: Dayang Enterprise Holdings Berhad (5141)
DAYANG flashed the first warning sign when it formed a 2-day candlestick pattern, bearish engulfing, on the March 18.
The stock then broke the parabolic curve pattern this morning (March 19). What a stock breaks a parabolic curve pattern, it has three retracement targets. Simply put, the stock will reverse to 50%, 62% or 78% based on the inception of the rally.
Based on technical analysis, the retracement targets are T1 at 1.12, T2 at 0.975, and T3 at 0.775.
$DEHB.KL #FBMKLCI #KLCI #BursaMalaysia
The stock then broke the parabolic curve pattern this morning (March 19). What a stock breaks a parabolic curve pattern, it has three retracement targets. Simply put, the stock will reverse to 50%, 62% or 78% based on the inception of the rally.
Based on technical analysis, the retracement targets are T1 at 1.12, T2 at 0.975, and T3 at 0.775.
$DEHB.KL #FBMKLCI #KLCI #BursaMalaysia