lilonstitch

Hi Magni, are you taking off now?

MYX:MAGNI   MAGNI-TECH INDUSTRIES BHD
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4
As today (2nd June 2020), it open above RM 2.04 and staying above the Moving Average (with the condition of MA 21 > MA 65) lines. The trigger is showing squeeze on, therefore, the taking position shall progress slowly accordingly to the candle movements and squeeze movements. IF RM 2.13 break safely, then shall aim for the next level which is RM 2.255 but strategically maybe should be more caution to ensure that the entire process of passing FH is safe.
Trade active: Need a push to RM 2.255 but seems selling pressure certainly heavy.
Comment: Are you forming a cup?

Comments

rm2.13 acts as resistance level?
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lilonstitch wuming2208
RM 2.13 might be the Support 1 but I doubt that the S1 could be break easily. Therefore, what critical to me is monitoring closely to ensure that the Transition intact and the pull back is around RM 2.09 level.
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