K_S_AbdHamid

Iris in Imminent Falling Triangle Breakout

MYX:IRIS   IRIS CORPORATION BHD
22 views
1
Iris had started forming a Bullish Falling Triangle pattern on somewhere in Mid Jan '21.
Eventhough they had been awarded with goverment project ( NIIS ) in March, the pattern keep intact.
Recently the triangle band had become narrowed. I anticipate that Iris had done it's final pullback and ready to breakout from the pattern.
Currently:
1) it had reached the 0.205 support line which was created during its uptred pullback (more than 1 yr ago).
2) If we look at its lower low price line (a) and compare with its RSI (a') , we can see that the RSI is pointing up which show that eventhough it is making lower low but it is gaining more strength and hopefully will become a momentum for Iris.

Disclaimer: This is NOT a Buy / Sell call. This analysis is for learning purpose only.

Comments