Buy signal for PAOS observed on 4 Jan '24 at RM0.390 based on the MRV2 setup, a higher risk version of the original MRV1.
MRV1 triggered on 19 Dec 2023 at the closing price of RM0.405.
The support area could be established at the equilibrium support area of RM0.380. The suggested stop loss is set lower at RM0.360 to maintain a minimum risk of 10% and avoid a too tight stop loss for counters around this price range.
The target price is at RM0.495 with a 1:2 risk/reward ratio. You may align with the equilibrium resistance price area at RM0.510 or adjust the risk/reward ratio to 1:1.5 or 1:1 based on preference.
The expected holding period is about 2-3 months since the signal comes from the daily chart.
A momentum reading appeared at the equilibrium support area, showing confirmation to continue upward momentum.
This information is for discussion purposes only and is not a buy/sell call.