adamkhoosk

GHLSYS VCP PATTERN + UP TREND

Long
MYX:GHLSYS   GHL SYSTEMS BHD
Observed GHLSYS to have VCP pattern. Similar to other 3 stocks that i have reviewed previously - Supermx, Rubberex and Carepls . (link below)

Few points below to support buy in:
1) Weekly chart MA30 trendline pointing up (Represent GHL is a up trend stock)
2) Daily chart current price above MA50 and MA50 above MA200.
3) Experience 4 contraction and each of the contraction getting smaller. (C1: -41%, C2: -7.1%, C3: -8.5% and C4: -6.1%) ---- Volume transaction also observed become lower.

With current Covid 19 situation, most people are shopping online. Online transaction will be huge for this few months. This will benefit GHL since he is the lead in cashless industry.

My strategy:
Enter RM2.00/2. 01 , support set at RM1.96 (or support set at max 7% lost)
I believe market is waiting GHL to break 2.10 resistance. Once 2.10 break, it might continue rocket up.

(Reminder: QR is coming soon...)

Disclaimer: Trading view just a platform for me to record down my analysis. Buy at your own risk. :)

Comments

I like your ideas but I dont trade on MEX. Do you trade any US stocks?
Reply
adamkhoosk Marek_Pavlas
@Marek_Pavlas, Bro, thank you. As of now, i only trade stocks in Malaysia. Gonna polish well my skill first before move to US stocks.
Reply
Marek_Pavlas adamkhoosk
@adamkhoosk, OK, looking forward to that! :)
Reply
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