Stock code: MYX:5277 (FoundPac Group Bhd)
Screener: 18LC for 31 Jan 2019 (www.tradevsa.com)
Observation date: 5 Feb 2019
Observation:
a) Price & Volume:
- Price: Narrow spread with occassional wide spread on up bar.
- Volume: Very low w/ occasional high vol. on the up bar.
b) Market Stage:
- Markdown stage (S4) between mid Aug'18 - early Nov'18 (14 weeks).
- Price then enter into Accumulation stage (S1).
- Possible end of S1 (10 weeks) and entering Markup stage (S2).
c) Trend Line:
- Price moved away from Downtrend and into a Trading Range (between 20.5sen - 27.5sen).
- Price breaks Support (22.5sen) to test supply (20.5sen level) before eventually move back up to Support level.
- Price recently close above the Resistance level at 27.5sen.
Remarks:
- Based on the above observation, there are 2 possibilities:
a) If chart is ready for S2 stage, price should do a pullback with low vol. above the Resistance-turn-Support line.
b) If pullback failed, price is still consider in S1 and trade w/in a trading range (20.5sen and 29.5sen).
Screener: 18LC for 31 Jan 2019 (www.tradevsa.com)
Observation date: 5 Feb 2019
Observation:
a) Price & Volume:
- Price: Narrow spread with occassional wide spread on up bar.
- Volume: Very low w/ occasional high vol. on the up bar.
b) Market Stage:
- Markdown stage (S4) between mid Aug'18 - early Nov'18 (14 weeks).
- Price then enter into Accumulation stage (S1).
- Possible end of S1 (10 weeks) and entering Markup stage (S2).
c) Trend Line:
- Price moved away from Downtrend and into a Trading Range (between 20.5sen - 27.5sen).
- Price breaks Support (22.5sen) to test supply (20.5sen level) before eventually move back up to Support level.
- Price recently close above the Resistance level at 27.5sen.
Remarks:
- Based on the above observation, there are 2 possibilities:
a) If chart is ready for S2 stage, price should do a pullback with low vol. above the Resistance-turn-Support line.
b) If pullback failed, price is still consider in S1 and trade w/in a trading range (20.5sen and 29.5sen).