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Strategy: Pull Back Strategy
Bias: Bullish. Retracement was observed on T+1 and T+2 after big spike on 2nd Jan 2019. Share price retraced & hit RM0.700 support before rebounded.
Interestingly, RM0.70 acts as the uptrend line support, at the same time acts as MA10 support & fibo level 0.618 support!
It closed at 0.715, Dragonfly Doji formed above MA5, which might signify short term trend reversal.
As long as the uptrend line is still intact, the overall stock price movement is positive.
Stop-loss: RM0.700
1st Target: RM0.750
2nd Target: RM0.780
Potentially 11% gain from the support zone.
Gentle Reminder: Plan your Trade, Trade your plan. Good luck in 2020 trading!
Strategy: Pull Back Strategy
Bias: Bullish. Retracement was observed on T+1 and T+2 after big spike on 2nd Jan 2019. Share price retraced & hit RM0.700 support before rebounded.
Interestingly, RM0.70 acts as the uptrend line support, at the same time acts as MA10 support & fibo level 0.618 support!
It closed at 0.715, Dragonfly Doji formed above MA5, which might signify short term trend reversal.
As long as the uptrend line is still intact, the overall stock price movement is positive.
Stop-loss: RM0.700
1st Target: RM0.750
2nd Target: RM0.780
Potentially 11% gain from the support zone.
Gentle Reminder: Plan your Trade, Trade your plan. Good luck in 2020 trading!
Trade closed manually:
On 8/1/2020, Opcom reached the cut loss zone RM0.700 due to unfavorable market condition caused by Iran-US conflict.
Stop loss is meant to be respected.
Be discipline and serious in trading.
On 9/1/2020, Opcom broke out the critical price RM0.700 and provided a chance for re-entry. The next day, in one day time, Opcom reached the target of RM0.750 :) Trade with plan :)
Stop loss is meant to be respected.
Be discipline and serious in trading.
On 9/1/2020, Opcom broke out the critical price RM0.700 and provided a chance for re-entry. The next day, in one day time, Opcom reached the target of RM0.750 :) Trade with plan :)