chongchanyau

Natwide ready to deliver strong breakout

MYX:NATWIDE   NATIONWIDE EXPRESS HOLDINGS BERHAD
a Logistic theme is going to breakout soon. Why is it so?
1. Ascending triangle . Lower high and higher low. Tested 3 times support and resistance trendline
2. Complete pullback with wide spread down back with rejection wick with low volume . In other words, it is small hammer formed. This mean No smart money is selling but inverse true; collecting while retailer are disposing to the pool of big sharks out there
3. 10/20MA has been intercrossing each other like mating snake, expecting an ejaculating burst of candle.
4. TP 0.46 as per the height of the triangle base. CL 0.335 below the trendline support. if EP is 0.36, the R/R is 4!
5. Background rotation theme play for logistic as the WFH and increasing online shopping volume will give the boost. Similar industry such as Freight and Tnlogis has started to run. (Frieght was champion in this up 16.5sen settling at 1.60.)
6. Im holding at 0.405 to be honest and planning to scale in on monday 0.355/36