KCTrader7

GRANFLO - POSSIBLE CUP AND HANDLE?

MYX:GRANFLO   None
DISCLAIMER
THIS IS NOT AN INVESTMENT ADVICE, TRADE AT YOUR OWN RISK & OPPORTUNITY !!!

Looks like it is forming a possible handle for the cup and handle formation. However still have to monitor for few more days. It has formed an inverted hammer after three days of retracing, so let's see whether is this the end of a retracement. Banker chips are at 50% with RSI at 54.

R: 0.685, 0.73(52WH & ATH )
S: 0.6

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Comment: *UPDATE*
Please click on the play button to new load bars as I don't know how to update a new picture

For today's closing, it dropped to 0.585 but rebounded back up to 0.605. Short term wise bearish cross is detected too. For now I would avoid and wait for next trading day to see its performance. Banker chips are reducing to less than 50% too. Overall I still don't recommend an entry yet until the chart looks better.