adamkhoosk

EG VCP BREAKOUT

Long
MYX:EG   EG INDUSTRIES BHD
EG breakout the 4 months VCP . After the breakout, market sentiment is bad due to rumors of full lockdown and etc.

For the entire VCP , there are 5 contraction with contraction below:

C1: ~46%
C2: ~33%
C3: ~18%
C4: ~16%
C5: ~7%

Very good entry point on 12 Jan 2021 when it break the C5 contraction. Now the price still not too far from the breakout point. For me still a low risk entry point with ~5-6% risk. Great volume and price interaction as well. Next heavy resistance will be ~0.985 region.

p/s: Also an obvious cup and handle!

Disclaimer:
The content provided is my personal experience sharing through technical and fundamental analysis point of view. The content can only be used for education purposes and NOT any recommendation for buying or selling stock. Please ask your remiser/dealer for making decision. Trade at Your Own Risk.
Comment: Congrats everyone that holding.

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NICE SHARING!
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