{SWC}——ELSOFT, W-shaped bottom formation
Thank you for your continued support :)
Strategy: Bullish Chart Pattern Formation
Bias: Bullish. ELSOFT, W-shaped bottom well formed with volume today, neckline at RM0.855. W-shaped bottom is a potential trend reversal pattern, which will revere the current unfavorable trend. Furthermore, ELSOFT share price breakout from a short term downtrend line with volume as shown in the chart above.
SWC believes when ELSOFT share price breakout from neckline (RM0.855), it will attract the buying interest and towards our targeted resistance (RM0.89).
SWC expects a positive movement in near term.
If the momentum can bring ELSOFT to close the gap, the next resistance can target at RM0.93.
Support: 0.825
Resistance: 0.89, 0.93
Strategy: Bullish Chart Pattern Formation
Bias: Bullish. ELSOFT, W-shaped bottom well formed with volume today, neckline at RM0.855. W-shaped bottom is a potential trend reversal pattern, which will revere the current unfavorable trend. Furthermore, ELSOFT share price breakout from a short term downtrend line with volume as shown in the chart above.
SWC believes when ELSOFT share price breakout from neckline (RM0.855), it will attract the buying interest and towards our targeted resistance (RM0.89).
SWC expects a positive movement in near term.
If the momentum can bring ELSOFT to close the gap, the next resistance can target at RM0.93.
Support: 0.825
Resistance: 0.89, 0.93
Trade active:
Made a breakout from the neckline RM0.855 :)
Trade closed: target reached:
Done RM0.890 TP in one day time!
Congrats everyone profited :)
Congrats everyone profited :)