PESTECH buy signal based on MRV1 setup on 29 Dec 23 at RM0.325

syafizi Updated   
I have a large number of stocks whose momentum readings are still valid during my absence, but I couldn’t find more when I returned. Weird…
The support area could be set at the most recent pivot low of RM0.275. However, this would make my target price based on the risk/reward ratio too high, and I wouldn’t want to hold that long.
I would set the stop loss to RM0.290 (which coincides with the equilibrium support area at the same price level) to adhere to the minimum 10% risk based on the price.
The target price is RM0.395. To maintain a risk/reward ratio of 1:2, you may choose to adjust this to 1:1.5 or 1:1 based on your preference.
The holding period is 2-3 months, as the signal is derived from the daily chart.
The momentum signal was triggered near the equilibrium price area and created an uptrend pattern of higher highs (HH) and higher lows (HL) in the process. A momentum signal at these price areas should be able to confirm the movement. Zoom out the chart to see.
The immediate resistance is at RM0.335 and the next resistance is at RM0.385.
The support zone is at RM0.290 and RM0.2402 follows after.
Trade closed: stop reached

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