RozaniGhani-RG

20MA downward, Descending Triangle

MYX:GADANG   GADANG HOLDINGS BHD
Technically, it is not looking good for GADANG as its 20-Day Moving Average is sloping downward and its price action is below the Moving Average line.
The recent downward movement in price has brought us to the technically important level of 0.415.
Failure to find support at this level may accentuate the bearish move.
The indicator analysis on RSI is not exhibiting any extreme condition.
Watch out for the 30% and 70% levels which indicate any oversold and overbought condition respectively.

Resistance 1 : 0.440
Resistance 2 : 0.445
Support 1 : 0.415
Support 2 : 0.410

Descending Triangle identified at 3 Aug 2020.
This pattern is still in the process of forming.
Possible bearish price movement towards the support 0.410 to 0.415 within the next 16 to 21 days (ETA 19 Aug to 24 Aug 2020).

Trade active

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