Current chart pattern in UEM Sunrise last night is similar to Gadang (click link below).
- Price was on downtrend before being supported at RM0.655.
- It then move up and now hovering above 20MA.
- There are 2 possibilities:
a) If price hovers above RM0.69 with decreasing volume, we can expect price to move up.
b) If price breaks RM0.69, it means market is not ready to move up and may move sideways. Advise to monitor from the sideline.
- If it break the support at RM0.655, then the Downtrend continues.
Let's see how the price movement in the next few bars.
- Price was on downtrend before being supported at RM0.655.
- It then move up and now hovering above 20MA.
- There are 2 possibilities:
a) If price hovers above RM0.69 with decreasing volume, we can expect price to move up.
b) If price breaks RM0.69, it means market is not ready to move up and may move sideways. Advise to monitor from the sideline.
- If it break the support at RM0.655, then the Downtrend continues.
Let's see how the price movement in the next few bars.
