Bullish bias emerged above the Cup and Handle pattern . As such, the stock may head north to test the next resistance of 0.875. Meanwhile, a reversal to below 0.47 would negate this expectation.
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@Syiraazuar, steel sentiment currently bearish. Support on the chart is seen at 0.47, followed by 0.435. Price movement below 0.33 implication will be Bearish for the share
RozaniGhani-RG
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My expectation at least must hit 0.725, but most likely sideway around 0.700.
ellynacci
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@RozaniGhani-RG, Thank you. Maaf ye, your marking of Elliot Wave mungkin ada kesilapan. EW Rule: Wave 4 cannot overlap wave 1. I assume period from Dec to April is a major Wave 4 correction and Rules of Alternation applies during this period (since Wave 2 is simple). However, I agree 0.70 could be the hurdle on the way up 👍
RozaniGhani-RG
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@lilysaari, yup. Wave 4 overlap with Wave 1 is actually wave correction, therefore Wave 5 is almost overlap with Wave 3. I still self study.